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Reliance firm to manage ESIC funds

MUMBAI:Reliance Nippon Life Asset Management on Thursday announced it has received a mandate from the Employees’ State Insurance Corporation (ESIC) to manage its funds.

Mumbai, October 11

Reliance Nippon Life Asset Management on Thursday announced it has received a mandate from the Employees’ State Insurance Corporation (ESIC) to manage its funds.

“We are particularly proud to have received this mandate, which is a reaffirmation of our strong investment processes and consistent track record of delivering returns,” said Sundeep Sikka, Executive Director and CEO, Reliance Nippon Life Asset Management.

The total investment of ESIC as on March 31, 2017, stands at Rs 59,382 crore. The asset management company is a joint venture between Reliance Capital and Japan’s Nippon Life Insurance. The fund manager received the mandate from ESIC after a competitive technical and financial bidding process. — PTI

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