Growing Reliance
As head of risk for India's biggest asset manager, Lav Chaturvedi has a difficult job. Not only has Reliance Mutual Fund's capital doubled to $20 billion in the past year, but hedging is tricky at the best of times in a nascent derivatives market. By Joe Marsh
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
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