LIC Mutual Fund

LIC Mutual Fund

LIC, the most trusted name in the field of insurance, launched its mutual fund wing on 20th April 1989. Due to its reputation and size, it quickly became a favourite with investors. It is an associate company of the Life Insurance Corporation of India. 

Life Insurance Corporation (LIC) of India was founded on 1st September 1956, soon after the Indian Parliament passed the Life Insurance Corporation Act in June, 1956. Presently, LIC is the largest state-run insurer in India, offering services to customers through 2,048 branches, 113 divisional offices, 1,381 satellite offices, 113 divisional offices, and 8 zonal offices. 

Best LIC Mutual Fund

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LIC Mutual Fund has consistently maintained an above-average CRISIL rating and is one of the most acclaimed fund houses in the Indian asset management sphere. It offers funds across categories like equity, debt, exchange-traded fund, hybrid, and liquid. The company also provides Portfolio Management Services. View More

Due to its world-class corporate governance structure, LIC has gradually emerged as investors’ preferred Investment Manager. Presently, the company has an enviable track record of offering 24 equity, 32 hybrid, and 40 debt funds. Indian and foreign investors can invest in LIC mutual fund schemes both online and offline.

LIC Mutual Fund’s revenue from operations grew from INR 390,294.89 thousand in 2019-20 to INR 429,597.61 thousand in 2020-21. In the same period, its profit grew from INR (21,726.24) thousand to INR 59,388.56 thousand. Moreover, its basic and diluted EPS (Earnings Per Share) has increased from INR (2.03) in 2019-20 to INR 5.42 in 2020-21.

LIC Mutual Fund is headed by Mr Dinesh Pangtey, Whole-time Director and Chief Executive Officer. Mr Mayank Arora is the Chief Compliance, Financial Officer & Company Secretary. The name of the Trustee Company of LIC AMC is LIC Mutual Fund Trustee Private Ltd. While LIC of India holds 49% stake in the Trustee company, LIC Housing Finance Ltd. holds 35.30%, and GIC Housing Finance Ltd. holds 15.70%. The Board of Directors includes Shri. Bishnu Charan Patnaik (Nominee Director), Shri. Rammohan Nilkanth Bhave (Independent Director), Shri. Thomas Panamthanath (Independent Director), Shri. Ashok Paranjpe (Independent Director), and Shri. Amit Pandit (Independent Director).

LIC Mutual Fund Key Information

  • Founded on
  • 20th April 1994
  • Name of the Mutual Fund
  • LIC Mutual Fund
  • Sponsor Name
  • Life Insurance Corporation of India
  • Compliance Officer
  • Mr Mayank Arora
  • Auditor
  • M. M. Chitale & CO., Chartered Accountants
  • Custodian
  • Standard Chartered Bank, Securities Services, CRESCENZO, 3rd Floor, C-38/39, G-Block, Bandra Kurla Complex, Bandra (East), Mumbai – 400051
  • Registrars
  • Registrar and Transfer Agent
  • Address
  • Industrial Assurance Bldg., 4th Floor, Opp. Churchgate Station, Mumbai – 400 020.
  • Telephone Nos.
  • 1800 258 5678
  • E-mail
  • service_licmf@kfintech.com

LIC Mutual Fund Managers

Yogesh Patil

Mr Yogesh Patil, MBA (Finance), joined LIC AMC in October 2018 as a Fund Manager and quickly moved ranks to become the Head of Equities in April 2021. He has more than eighteen (18) years of experience in the buy and sell side of the Indian equity markets. He manages some of LIC’s top-performing funds like LIC Large and Midcap Fund, LIC Equity Hybrid Fund, LIC Tax saver Fund, LIC Multicap Fund, and LIC Large cap Fund. Before joining LIC MF, Mr Patil worked at Canara Robeco AMC as Senior Fund Manager and Sahara Mutual Fund as Equity Research Analyst.

Sanjay Pawar

Mr Sanjay Pawar, B.Com, MBA (Finance), joined LIC Mutual Fund in December 2017 as a Senior Dealer in Fixed Income. In September 2020, he was promoted as a Fund Manager in Fixed Income. Mr Pawar has over thirteen (13) years of experience in liquidity management and fixed income instruments like Govt. Sec, State Development Loans, Treasury Bills, and Non- SLR Products. Before joining LIC MF, he worked as Fixed Income Dealer with Taurus Mutual Funds, Assistant Team Manager with Edelweiss Securities Ltd., and Senior Research Analyst (Fixed Income Instruments) with CRISIL Limited.

Marzban Irani

Mr Marzban Irani, PGDBM, B.Com (H), joined LIC Mutual Fund in August 2016. He is associated with LIC MF as the Chief Investment Officer – Debt. Before joining LIC MF, he worked for TATA Asset Management Ltd, as a Senior Fund Manager, PNB MetLife India Insurance Co. Ltd as the Vice President Investments, and Mirae Asset Global Investments (India) Pvt Ltd as the Head of Fixed Income. At LIC MF, Mr Irani manages funds like LIC MF Banking & PSU Debt Fund, LIC MF G-Sec Long Term Exchange Traded Fund, LIC MF Short Term Debt Fund, etc.

Jaiprakash Toshniwal

Mr Jaiprakash Toshniwal, CFA, MS Finance, B.Com, joined LIC Mutual Fund as a Senior Equity Research Analyst in February 2021 and was promoted as Fund Manager and Senior Equity Analyst in September 2021. Before joining LIC MF, he served IndiaFirst Life Insurance Company Limited as Equity Research Analyst, Taurus Asset Management Company Ltd as Equity Analyst, and ULJK Securities as Research Analyst. His special interest are in the field of Portfolio Management, Equity Research, Financial Analysis, Investment Banking, and Financial Modelling.

Saravana Kumar Ananthan

Mr Saravana Kumar Ananthan is the CIO at LIC Mutual Funds and oversees some of LIC’s most substantial mutual funds. He holds an MBA in Finance from the Indian Institute of Management and a CAIIB degree from the Indian Institute of Bankers.

In 2007 he also completed the Management Development Program on Financial Markets at Merrill Lynch New York and was a visiting faculty at the Institute of Financial Management Research. Mr Saravana Kumar has been associated with companies such as Trust Investment Advisors Pvt Ltd., Tata AIA Life Insurance, ICICI Bank, SBI Mutual Funds, and UTI Mutual Funds.

Amit Nadekar

Mr Nadekar did M.Com, CA and MMS – Finance and has the experience of working at Alchemy Capital Management Pvt. Ltd., Apar Research, Raymond Limited, and First Global Securities.

Karan Doshi

Mr Doshi is a Bachelor of Engineering, MMS (Finance). Before joining the LIC Mutual Fund, he worked at Subhkam Ventures Pvt. Limited as an equity analyst.

Shri Raj Kumara

Shri Raj Kumar joined LIC MF as a full-time director in April 2017. Raj Kumar, an industrial market veteran, has more than 32 years of experience and has risen to the ranks of the Life Insurance Corporation of India from Bhopal area manager to operations manager. Shri Raj Kumar is responsible for the organization’s equity, debt, hybrid, solution-focused, ETFs, and index funds.

Rahul Singh

At Tata Mutual Fund, Mr Singh serves as the Chief Investment Officer for Equities. He has been investing for more than 23 years. Mr Singh previously worked for Citigroup Global Markets India and Ampersand Capital Investment Advisors LLP.

Sachin Relekar - Fund Manager

Mr Sachin Relekar is a fund manager of LIC MF Tax Plan, a share-based savings plan that offers tax benefits. He is a former student of the Jamnalal Bajaj Institute of Management Studies, with over 17 years of experience as equity research and business development analyst. Mr Sachin Relekar joined LIC Mutual Fund in 2012 after working at Tata Asset Management Limited in 2007.

How to Invest in LIC Mutual Funds?

Investments in MF LIC schemes can be made directly or through one of the distributors of LIC appointed. Applications for the allocation of LIC MF units can only be submitted in the prescribed form. You can also invest online on the official website of LIC or through 5Paisa. Investing in LIC Mutual Funds is quite comfortable and easy following these steps: View More

Step 1: You simply need to log in to the 5Paisa platform and compare all the given LIC plans and mutual funds.

Step 2: Based on your preference, you can select a SIP or a lump sum investment.

Step 3: Enter the amount you want to invest and make the payment by clicking on the Invest Now button.

Step 4: It takes 3-4 business days for the payment to be processed, after which the investment appears in the investment portfolio.

Top 10 LIC Mutual Fund to Invest

  • Fund Name
  • Min SIP Investment Amt
  • AUM (Cr.)
  • 3Y Return

LIC MF Large & Mid Cap Fund – Direct Growth is an Large & Mid Cap scheme that was launched on 25-02-15 and is currently under the management of our experienced fund manager Yogesh Patil. With an impressive AUM of ₹2,551 Crores, this scheme's latest NAV is ₹36.604 as of 12-04-24.

LIC MF Large & Mid Cap Fund – Direct Growth scheme has delivered a return performance of 43.4% in the last 1 year, 19.7% in the last 3 years, and an 15.3% since its launch. With a minimum SIP investment of just ₹5,000, this scheme offers a great investment opportunity for those looking to invest in Large & Mid Cap funds.

  • Min SIP Investment Amt
  • ₹5,000
  • AUM (Cr.)
  • ₹2,551
  • 3Y Return
  • 43.4%

LIC MF Nifty 50 Index Fund – Direct Growth is an Index scheme that was launched on 01-01-13 and is currently under the management of our experienced fund manager Jaiprakash Toshniwal. With an impressive AUM of ₹295 Crores, this scheme's latest NAV is ₹132.1874 as of 12-04-24.

LIC MF Nifty 50 Index Fund – Direct Growth scheme has delivered a return performance of 30.1% in the last 1 year, 16.2% in the last 3 years, and an 13.2% since its launch. With a minimum SIP investment of just ₹5,000, this scheme offers a great investment opportunity for those looking to invest in Index funds.

  • Min SIP Investment Amt
  • ₹5,000
  • AUM (Cr.)
  • ₹295
  • 3Y Return
  • 30.1%

LIC MF Banking & Fina Serv Fund – Dir Growth is an Sectoral / Thematic scheme that was launched on 27-03-15 and is currently under the management of our experienced fund manager Jaiprakash Toshniwal. With an impressive AUM of ₹289 Crores, this scheme's latest NAV is ₹20.735 as of 12-04-24.

LIC MF Banking & Fina Serv Fund – Dir Growth scheme has delivered a return performance of 26.1% in the last 1 year, 15.2% in the last 3 years, and an 8.3% since its launch. With a minimum SIP investment of just ₹5,000, this scheme offers a great investment opportunity for those looking to invest in Sectoral / Thematic funds.

  • Min SIP Investment Amt
  • ₹5,000
  • AUM (Cr.)
  • ₹289
  • 3Y Return
  • 26.1%

LIC MF Flexi Cap Fund – Direct Growth is an Flexi Cap scheme that was launched on 01-01-13 and is currently under the management of our experienced fund manager Amit Nadekar. With an impressive AUM of ₹942 Crores, this scheme's latest NAV is ₹95.6661 as of 12-04-24.

LIC MF Flexi Cap Fund – Direct Growth scheme has delivered a return performance of 36.3% in the last 1 year, 17.4% in the last 3 years, and an 13.7% since its launch. With a minimum SIP investment of just ₹5,000, this scheme offers a great investment opportunity for those looking to invest in Flexi Cap funds.

  • Min SIP Investment Amt
  • ₹5,000
  • AUM (Cr.)
  • ₹942
  • 3Y Return
  • 36.3%

LIC MF Aggressive Hybrid Fund – Direct Growth is an Aggressive Hybrid scheme that was launched on 03-01-13 and is currently under the management of our experienced fund manager Karan Desai. With an impressive AUM of ₹502 Crores, this scheme's latest NAV is ₹192.7916 as of 12-04-24.

LIC MF Aggressive Hybrid Fund – Direct Growth scheme has delivered a return performance of 30.3% in the last 1 year, 13.2% in the last 3 years, and an 11.3% since its launch. With a minimum SIP investment of just ₹5,000, this scheme offers a great investment opportunity for those looking to invest in Aggressive Hybrid funds.

  • Min SIP Investment Amt
  • ₹5,000
  • AUM (Cr.)
  • ₹502
  • 3Y Return
  • 30.3%

LIC MF ELSS Tax Saver – Direct Growth is an ELSS scheme that was launched on 01-01-13 and is currently under the management of our experienced fund manager Amit Nadekar. With an impressive AUM of ₹1,021 Crores, this scheme's latest NAV is ₹145.4101 as of 12-04-24.

LIC MF ELSS Tax Saver – Direct Growth scheme has delivered a return performance of 35% in the last 1 year, 18% in the last 3 years, and an 16.2% since its launch. With a minimum SIP investment of just ₹500, this scheme offers a great investment opportunity for those looking to invest in ELSS funds.

  • Min SIP Investment Amt
  • ₹500
  • AUM (Cr.)
  • ₹1,021
  • 3Y Return
  • 35%

LIC MF S&P BSE Sensex Index Fund – DirectGrowth is an Index scheme that was launched on 01-01-13 and is currently under the management of our experienced fund manager Jaiprakash Toshniwal. With an impressive AUM of ₹78 Crores, this scheme's latest NAV is ₹147.1594 as of 12-04-24.

LIC MF S&P BSE Sensex Index Fund – DirectGrowth scheme has delivered a return performance of 26.5% in the last 1 year, 15.7% in the last 3 years, and an 13.2% since its launch. With a minimum SIP investment of just ₹5,000, this scheme offers a great investment opportunity for those looking to invest in Index funds.

  • Min SIP Investment Amt
  • ₹5,000
  • AUM (Cr.)
  • ₹78
  • 3Y Return
  • 26.5%

LIC MF Gilt Fund – Direct Growth is an Gilt scheme that was launched on 01-01-13 and is currently under the management of our experienced fund manager Marzban Irani. With an impressive AUM of ₹47 Crores, this scheme's latest NAV is ₹59.3073 as of 12-04-24.

LIC MF Gilt Fund – Direct Growth scheme has delivered a return performance of 7.5% in the last 1 year, 5% in the last 3 years, and an 7.6% since its launch. With a minimum SIP investment of just ₹10,000, this scheme offers a great investment opportunity for those looking to invest in Gilt funds.

  • Min SIP Investment Amt
  • ₹10,000
  • AUM (Cr.)
  • ₹47
  • 3Y Return
  • 7.5%

LIC MF Short Duration Fund – Direct Growth is an Short Duration scheme that was launched on 01-02-19 and is currently under the management of our experienced fund manager Marzban Irani. With an impressive AUM of ₹84 Crores, this scheme's latest NAV is ₹13.9853 as of 12-04-24.

LIC MF Short Duration Fund – Direct Growth scheme has delivered a return performance of 7.3% in the last 1 year, 5.6% in the last 3 years, and an 6.6% since its launch. With a minimum SIP investment of just ₹5,000, this scheme offers a great investment opportunity for those looking to invest in Short Duration funds.

  • Min SIP Investment Amt
  • ₹5,000
  • AUM (Cr.)
  • ₹84
  • 3Y Return
  • 7.3%

Closed NFO

Frequently Asked Questions

What are the latest scheme names launched by The LIC Mutual Fund?

The LIC Mutual Fund has lately introduced a change in scheme and program names effective July 1, 2022, as per the following:

Existing Scheme Name – Revised Scheme Name

  • LIC MF ETF – Nifty 50 – LIC MF Nifty 50 ETF
  • LIC MF ETF – Nifty 100 – LIC MF Nifty 100 ETF
  • LIC MF ETF – Sensex – LIC MF S & P BSE Sensex ETF
  • LIC MF Index Fund – Nifty Plan – LIC MF Nifty 50 Index Fund
  • LIC MF Index Fund – Sensex Plan – LIC MF S & P BSE Sensex Index Fund
  • LIC MF Gsec Long Term ETF – LIC MF Nifty 8-13 yr G-Sec ETF

Are there any tax advantages to investing in LIC mutual funds?

Investments in certain LIC investment funds, like ELSS or RGESS, are for tax benefits. It is essential to read the terms and conditions of the MF invested in carefully.

What are the risks involved in LIC mutual fund investments?

LIC Mutual fund investments are subject to certain risk factors. Investment funds include market risk, meaning there is no guarantee that the Investment Fund’s objectives will be achieved. The NAV of the shares issued under the program may rise or fall depending on the capital markets’ factors and forces. The past performance of the Fund is not indicative of the future performance of the Fund’s arrangements. The program’s name is in no way indicative of the program’s quality or its prospects and returns. No promised/guaranteed return is offered to investors in the program.

What does SWP - Systematic Withdrawal Plan in LIC mean?

The SWP in LIC is a facility given to Shareholders to regularly withdraw funds from the Plan by issuing a single instruction. An SGP allows investors to redeem a fixed amount/number of shares – a minimum of 50 and their multiples – at specified intervals. An investor must have a minimum balance of the specified amount. The default SWP date is the 2nd of every month. The frequency of the SWP is monthly. The charging structure in effect at the time of the request applies to all rates specified therein.

Is it mandatory to link bank details with the LIC mutual fund?

To protect participants’ interests from fraudulent check cashing, current SEBI regulations require investors to indicate the participant’s bank name and account number in their LIC request/redemption request. Be responsible for any loss resulting from fraudulent check cashing and for any delay/loss during transport. In the absence of such information, applications are subject to rejection.

What is the indexing context for LIC mutual funds?

Indexation in LIC means adjusting the purchase price of your assets to highlight the effects of inflation. Capital gains are taxed accordingly.

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