New Managers Appointed for Reliance Vision Fund.
New Managers Appointed for Reliance Vision Fund. Can we Expect a Revival?

Reliance Vision Fund was launched with a bang in October 1995 and provided outstanding returns in the initial years. The returns were consistent and highly rewarding until the great depression in 2008 but later on, the performance of the scheme slipped pass many of the peers in the negative as well as positive market conditions. Several rating agencies have downgraded the ratings for the scheme following the under-performance. 
Looking at the continuous downtrends of the scheme, Reliance Mutual Fund has appointed new fund managers for Reliance Vision Fund. Does it mean that the bad days are over? Can investors expect the same performance that was witnessed years ago? Let’s find out what lies ahead for this feeble performer in the large and mid-cap category of mutual funds. 

What Went Wrong for Reliance Vision Fund?

In the last few years, the large and mid-cap stocks have been facing volatile market conditions which have disallowed the fund from matching the expectations of the investors. The fund was previously managed by Mr Ashwani Kumar who maintained an aggressive portfolio that was unable to deliver consistent gains in the neutral market conditions. Since inception, Reliance Vision Fund has maintained impressive trailing returns above 18% but in the last 10 years, it went down to a single digit. It seems like the investment strategy of the fund manager was unable to match with the objective of investment. After giving enough opportunities to Mr Kumar, Reliance Mutual Fund has changed the manager for Reliance Vision Fund. 

Who Are the New Fund Managers for Reliance Vision Fund?

The old and highly anticipated large and mid-cap fund will now be managed by two experienced fund managers at Reliance Mutual Fund.

1. Ms Meenakshi Dawar:
She has been recently appointed as the fund manager of Reliance Vision Fund in May 2019. Apart from this, she has been already handling the portfolio of Reliance Value Fund and Reliance Capital Builder Fund for last 1 and 2 years, respectively. Ms Dawar has plenty of experience in the asset management business as she was previously associated with IDFC Mutual Fund and was handling the equity investments for the AMC. Ms Dawar is highly qualified for handling the large and mid-cap as she holds a PGDM degree from IIM Ahmedabad. 

2. Mr Sanjay Doshi:
He has an impressive track record in the asset management industry. Mr Doshi has more than 11 years of experience in the capital market. He also handles the investment for Reliance Power and Infra Fund. Mr Doshi is an ACA, MBA (Finance), and CFA. He has also been appointed as a fund manager of Reliance Vision Fund in May 2019.

What can be Expected From Reliance Vision Fund?

After the appointment of new managers, it would be interesting to see how the performance of the scheme alters. Every manager has a different strategy and due to new assignments for the post, the returns generated by the scheme in the past are irrelevant. It would be interesting to watch how the new managers recover the lost reputation of Reliance Vision Fund in the category of large and mid-cap mutual fund. Both the newly appointed managers are highly experienced and qualified to take the performance levels to what it was 10 years ago. However, the equity market will be equally responsible for the upcoming trends of the scheme as the market is expected to remain strong in the upcoming market conditions. 

Is it Right Time to Buy?

The fund managers are new and they might take a little bit of time to settle down and mould the portfolio according to their investment strategy. The current portfolio of the scheme looks decent and is not very aggressive for a large and mid-cap scheme. To make any purchase, SIP is the recommended mode of investment as lump sum investment made at current levels can be quite risky. Long term gains can be expected at the cost of moderate to high-risk factor. Fresh investments must be done after taking suggestions from a financial expert.
New Managers Appointed for Reliance Vision Fund.
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New Managers Appointed for Reliance Vision Fund.

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