Indian mutual funds win 22 performance awards in Gulf region
28 Mar 2007
Mumbai:
Indian mutual funds have bagged as many as 22 performance
awards across various categories in the Gulf region,
with Reliance Mutual Fund leading the show with the
highest number of awards.
Reliance Banking Fund Growth Plan bagged the best fund
award for three-year return in the equity banking segment,
while Reliance Growth Fund was named as best equity
funds in three-year as well as five-year return categories.
The awards were presented at the `Lipper Fund Award
Gulf 2007' ceremony in Dubai for recognising best performing
funds registered for sale in the Gulf States.
In the ranking by global fund tracker Lipper Inc, Franklin
Templeton was named the overall best fund house among
all mutual fund companies doing business in the Gulf
region while HDFC was selected as the best company in
the mixed-assets categories in terms of three-year returns.
Reliance funds have bagged the best fund awards in six
categories, while the country's largest fund house ICICI
Prudential managed to get just one award.
Franklin
Templeton took the second slot with five awards, followed
by HDFC and UTI with three each and DSP Merrill Lynch
and Birla Sunlife MF two awards each.
Reliance MF said in a statement that it has bagged awards
across six sectors for their consistent and outstanding
performance across three and five year time periods.
