Like the fabled Ambani obsession for size and scale, this AMC launched in 1995 believed in increasing its asset base to emerge as the largest private sector mutual fund in 2006. The AMC topped the charts for months on the assets it managed. It went through a blitzkrieg to launch several funds during the 2004-07 bull run with the focus only on raising large sums through NFOs. The NFOs launches further witnessed huge sums raised which could ride the markets during the bull run, but failed to sustain after the markets crashed. Fund performance by its funds has been found wanting, especially equity schemes. However, credit needs to be given to this AMC for the manner in which it has managed to sail through the past five years where it has been more into fund redemptions with investor exit than fund management. The silver lining this year was the 26 per cent stake taken by Nippon Life in Reliance Capital, the sponsor of the AMC. The AMC’s ability to navigate through the markets during bull runs is a plus for it and any change in the way the markets fare in the coming months may see a revival in its business.