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Reliance Capital Asset Management:26% Acquired By Nippon

Nippon Life Insurance Company has proposed to acquire 26% stake in Reliance Capital Asset Management Limited (RCAM). The acquisition shall result in change in the controlling interest of the company.

The unit holders of Reliance Mutual Fund have been given an option to exit at the prevailing NAV without paying any exit load. This option will be open from August 6, 2012 to September 4, 2012.