To judge the Indian mutual fund industry by assets under management, the most recent fiscal year was not a good one. Reliance Capital Asset
How the Ranking Was CompiledInstitutional Investor’s sixth annual ranking identifies India’s top 20 fund managers by assets. New York–based Senior Editor Jane B. Kenney and Mumbai-based Contributing Editor Niraj Bhatt compiled the ranking from questionnaires filled out by the institutions themselves. II refined these data through follow-up e-mails and telephone calls. When official data were unavailable, II obtained figures from web sites and other public sources. All figures are in millions of dollars as of March 31 of the respective year, converted from rupees, when necessary, using the exchange rate on those dates.