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. 

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. 

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).

Top 10 LIC Mutual Funds Schemes –

Fund Name
Category
Risk
1Y Returns
Rating
Fund Size (in Cr)
LIC MF Large & Mid Cap Fund – Direct Growth Equity Very High 4.09 4 1,690
LIC MF Infrastructure Fund – Direct Growth Equity Very High 12.77 4 82
LIC MF Index Fund – Sensex Plan – DirectGrowth Other Very High 1.87 3 50
LIC MF Index Fund – Nifty Plan – Direct Growth Other Very High 1.34 3 54
LIC MF Large Cap Fund – Direct Growth Equity Very High -1.11 4 644
LIC MF Tax Plan – Direct Growth Equity Very High -0.35 3 391
LIC MF Flexi Cap Fund – Direct Growth Equity Very High -4.01 2 387
LIC MF Children’s Gift Fund – Direct Solution Oriented Very High -2.21 2 13
LIC MF Equity Hybrid Fund – Direct Growth Hybrid Very High -2.75 2 423
LIC MF Debt Hybrid Fund – Direct Growth Hybrid Moderate 2.73 3 62
LIC MF G-Sec Fund – Direct Growth Debt Moderately Low 1.77 4 55
LIC MF Banking & PSU Debt Fund – Direct Growth Debt Moderately Low 2.94 2 1,302
LIC MF Short Term Debt Fund – Direct Growth Debt Moderately Low 2.42 2 215
LIC MF Savings Fund – Direct Growth Debt Moderately Low 3.55 2 1,246
LIC MF Bond Fund – Direct Growth Debt Moderately Low 0.40 2 103
LIC MF Arbitrage Fund – Direct Growth Hybrid Low 4.34 2 30
LIC MF Liquid Fund – Direct Growth Debt Moderately Low 3.66 4 5,804
LIC MF Banking & Fina Serv Fund – Dir Growth Equity Very High -4.49 1 56
LIC MF Overnight Fund – Direct Growth Debt Low 3.52 4 334
LIC MF Ultra Short Term Fund – Direct Growth Debt Moderately Low 3.40 2 65
LIC MF Balanced Advantage Fund – Dir Growth Hybrid Very High - - 1,173

LIC Mutual Fund Asset Mgmt Co Ltd – Key Information

Mutual Fund Name LIC Mutual Fund
Founded on  20th April 1994
Sponsor Name Life Insurance Corporation of India
Er LIC Mutual Fund Trustee Pvt. Ltd
Whole-time Director and Chief Executive Officer Mr Dinesh Pangtey
Chief Information Officer Mr Saravana Kumar A
Chief Compliance, Financial Officer & Company Secretary Mr Mayank Arora
Fund Accountant Standard Chartered Bank

Fund Services,

Ground floor, 90 MG Road,

Fort,

Mumbai – 400001.

Custodians Standard Chartered Bank,

Securities Services,

CRESCENZO, 3rd Floor, C-38/39,

G-Block, Bandra Kurla Complex,

Bandra (East),

Mumbai – 400051

Registrar and Transfer Agent KFintech Private Limited Unit: LIC Mutual Fund Asset Management Ltd

Karvy Selenium Tower B,

Plot No 31 & 32, Financial District,

Gachibowli, Nanakramguda,

Serilingampally,

Hyderabad 500008.

Internal Auditors for LIC Mutual Fund (Schemes) M. M. Chitale & CO., Chartered Accountants
Statutory Auditors for LIC Mutual Fund (Schemes) S. R. Batliboi & CO. LLP, Chartered Accountants
Registered Office Industrial Assurance Bldg., 4th Floor, Opp. Churchgate Station, Mumbai – 400 020.
Contact Information 1800 258 5678

service_licmf@kfintech.com

LIC Mutual Fund Asset Mgmt Co Ltd – Top Fund Managers

Mr 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.  

Mr 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. 

Mr 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. 

Mr 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. 

Frequently Asked Questions About LIC Mutual Fund

1. What is LIC Mutual Fund?

– 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.

2. Who is the Director of LIC MF?

– LIC Mutual Fund is headed by Mr Dinesh Pangtey, Whole-time Director and Chief Executive Officer.

3. Who are the top fund managers of LIC MF?

– Mr Yogesh Patil, Mr Sanjay Pawar, Mr Marzban Irani, and Mr Jaiprakash Toshniwal are some of the best fund managers at LIC Mutual Fund.