A shareholder speaks on a mobile phone while attending the annual general meeting of Reliance Capital in Mumbai September 27, 2011. India's Reliance Capital Ltd is in advanced talks to sell stake in its asset management company to Japan's Nippon Life, two newschannels said on Tuesday, citing its Chairman Anil Ambani. REUTERS/Danish Siddiqui (INDIA - Tags: BUSINESS)
| DANISH SIDDIQUI/Reuters
Reliance Capital Asset Management Co, which tops the India 20, Institutional Investor's annual ranking of the largest Indian fund managers, saw its assets decline last year. So has the industry at large.
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