What is the new name of Reliance's small-cap fund & why it is changed?
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Last year, Nippon India hiked its stake in Reliance Mutual fund from 26% to 75%. Thus, it became the largest shareholder in the fund.
After becoming the largest shareholder of Reliance Mutual Fund, Nippon Life Insurance of Japan rebranded the AMC by dropping the word Reliance from Reliance Nippon Asset Management Company. Nippon Life Insurance has invested around Rs8,000 cr in the Indian fund house since 2012.
So, the schemes remain the same, just that the names have been changed to reflect Nippon’s prominence in the AMC.
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