Growing Reliance

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Even by Indian market standards, Reliance Mutual Fund (RMF) has been growing fast. The amount of capital controlled by the country's biggest asset manager stood at $20.5 billion as of December 31, according to the Association of Mutual Funds in India. That's more than double the $9.9 billion figure of the previous January and even 34% up on the June 2007 figure of $15 billion. As a result, RMF is some distance ahead of its nearest rival in terms of assets, UTI Asset Management, which manages $14

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