Reliance to become most profitable Mutual Fund Company

Reliance MF (Mutual Fund) has overtaken HDFC MF to become the India's most profitable mutual fund company.

For the last financial year 2010-11, PAT (Profit After Tax) of Reliance MF stood at Rs, 261 Crore, While that of HDFC MF was Rs. 242 Crore. On this period Reliance AMC’s ( Asset Management Company) PAT rose by as much as 34% the fiscal 2010- 11, whereas HDFC MF's profit increased by about 16% only. This is AMFI’s (Association of Mutual Funds in India) data.

The Net Profit of other MF’s was,
Franklin Templeton -  Rs 97 crore (for fiscal year ended September 2010).
Birla Sun Life AMC -  Rs 85 crore,
SBI AMC - Rs 79 crore
ICICI Prudential AMC - RS 72 crore
DSP AMC - Rs. 47 crore,
Tata AMC - Rs. 17 crore
Kotak AMC - Rs 11 crore).

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