Reliance Capital Singapore unit crosses $1 bn asset under management

Last Updated: Fri, Feb 01, 2013 11:20 hrs

Mumbai, Feb 1 (IANS) Reliance Capital Asset Management Singapore, a unit of Reliance Capital, Friday said the company's AUM (assets under management) has crossed a significant milestone of $1 billion-mark.

"The $1 billion in AUM is a significant milestone for the company in its Singapore operations. It reinforces our belief that India will continue to be an attractive investment destination for foreign investors," said Sundeep Sikka, chief executive officer, Reliance Capital Asset Management.

"We see these AUMs growing multi-fold in next few years, and Singapore will play a larger role in expanding our international reach and footprint," Sikka said in a statement here.

Reliance Capital Asset Management Singapore offers a well-rounded portfolio of fixed income, equity and alternate funds to its overseas investors.

Reliance Capital Asset Management, a unit of Anil Ambani-led Reliance Capital, altogether manages nearly $2 billion in AUM from global investors across various funds, with a portfolio of long only, hedge and Shariah-compliant funds.

The company has plans to double its AUM from international operations in the next three years, and the AUMs in Singapore are likewise expected to double in the next two years.

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