Reliance Banking Fund, which had an asset under management of Rs. 2,816 crore as of June 30, 2017, is one of the flagship funds of Reliance Mutual Fund. Started on May 26, 2003, the Reliance Banking Fund's net asset value (NAV) has grown from Rs. 10 to Rs. 263.24 on August 4, 2017, delivering a compound annual growth rate (CAGR) of 25.52 per cent over 14 year. It means investor's wealth has doubled in every 2.8 years. For example, if an investor had invested Rs. 4 lakh in 2003, his corpus would have turned over Rs. 1 crore in less than 15 years.
Reliance Banking Fund is a sector fund focused on the banking and financial services sector. This is an open ended equity fund having no entry and exit barriers. The fund aims to generate superior return through active fund management. The fund has outperformed its benchmark, Nifty500 Banks Index, by nearly 450 basis points since its inception.