Indian mutual fund industry to reach Rs 20 lakh crore by 2020: Reliance

Reliance Capital Asset Management foresees India's mutual fund industry to grow to Rs 20 lakh crore by 2020.

The group ascribes the anticipated growth to regulatory changes and shift in investors' savings pattern.

Reliance Capital Asset Management has about 12 percent market share in the mutual fund industry, which is pegged at Rs 7.53 lakh crore at present, making it the second largest fund house in the country.