Reliance MF bags mandate for ESIC funds

Reliance MF bags mandate for ESIC funds
NEW DELHI:
Reliance Nippon Life Asset Management (RNAM), has received a mandate from the Employees’ State Insurance Corporation (ESIC) to manage its funds.

Total investment of ESIC stands at Rs 59,382 crore. The fund house was awarded this mandate after successfully fulfilling an independent competitive technical and financial bidding process.

It already manages mandates from Employees’ Provident Fund Organization (EPFO), The Coal Mines Provident Fund Organisation (CMPFO) and The Pension Fund Regulatory and Development Authority (PFRDA).