Nippon India Mutual Fund (NIMF) is one of India's leading mutual funds, with Average Assets Under Management (AAUM) of Rs 2,04,370.79 Crores (Oct 2019 - Dec 2019 QAAUM) and 88.78 lakhs folios (as on December 31, 2019).
NIMF which is one of the fastest growing mutual funds in India, offers investors a well-rounded portfolio of products to meet varying investor requirements and has presence in 300 cities (as on March 31, 2019) across the country. NIMF constantly endeavours to launch innovative products and customer service initiatives to increase value to investors.
About Nippon India Mutual Fund
Nippon India Mutual Fund (NIMF) has been established as a trust under the Indian Trusts Act, 1882. Nippon Life Insurance Company(NLI) is the Sponsor and Nippon Life India Trustee Ltd (NLITL) is the Trustee.
Nippon India Mutual Fund has been registered with the Securities & Exchange Board of India (SEBI) vide registration number MF/022/95/1 dated June 30, 1995. Nippon India Mutual Fund (NIMF) was earlier known as Reliance Mutual Fund. The name of Mutual Fund was changed from Reliance Mutual Fund to Nippon India Mutual Fund effective September 28, 2019 . NIMF was formed to launch various schemes under which units are issued to the public with a view to contribute to the capital market and to provide investors the opportunities to make investments in diversified securities.
The main objectives of NIMF are
To carry on the activity of a mutual fund as may be permitted at law, and formulate and devise various collective schemes of savings and investments for people in India and abroad, and also ensure liquidity of investments for the unit holders;
To deploy funds thus raised so as to help the unit holders earn reasonable returns on their savings; and
To take such steps as may be necessary from time to time to realise the effects without any limitation.