Overview: LIC Mutual Fund AMC
LIC Mutual Fund, established by India’s premier and most trusted brand Life Insurance Company (LIC) has a diverse portfolio of about 64 mutual fund schemes invested in equity, debt, hybrid and tax-saver funds (ELSS).
Funds Offered by LIC AMC
LIC Asset Management Company (AMC) provides various investment options such as SIP (Systematic Investment Plan), Systematic Transfer Plan, and short-term and long-term investment plans. Its current Asset under Management (AUM) surpasses Rs. 14 crore.
Aiming to ‘be a trusted partner in wealth creation and a mutual fund of choice’, LIC Mutual Fund has earned a high CRISIL (Credit Rating Information Services of India) rating and emerged as a preferred AMC amongst the investor fraternity. LIC Mutual Fund functions with the firm belief that systematic investment discipline, high standard of financial ethics and corporate governance will lead to consistent performance of the fund as well as achievement of the financial goals of the investors.
Sachin Relekar, Yogesh Patil, Marzban Irani, and Rahul Singh are the Fund Managers of LIC Mutual Fund who look after different types of Mutual funds and endeavor to create value for its investors by adopting innovative and robust investment strategies, catering to all segments of investors.
Funds Offered by Life Insurance Company
Equity Mutual Funds by LIC
Equity Mutual Funds by LIC create a corpus and invest it in different companies that have profitable opportunities. A major portion of the corpus is allocated to equity-related securities while the remaining is invested in debt-related securities.
The following are a few Equity Mutual Funds by LIC-
- LIC MF Large & Mid Cap Fund
- LIC MF Large Cap Fund
- LIC MF Tax Plan
- LIC MF Infrastructure Fund
- LIC MF Index-Nifty Plan
Debt Mutual Funds by LIC
Debt Mutual Funds by LIC are aimed at generating regular income for investors by investing in bonds, corporate debentures, etc. These funds tend to meet the short-term goals of investors who have a relatively shorter investment horizon and are willing to get higher returns.
Here is a list of a few Debt Funds offered by LIC-
- LIC MF Banking & PSU Debt Fund
- LIC MF Government Securities Fund
- LIC MF Liquid Fund
- LIC MF Savings Fund
- LIC MF Bond Fund
Hybrid Mutual Funds by LIC
Hybrid Mutual Funds by LIC aim to increase the value of your investments through capital appreciation or by establishing a respectable level of returns. The fund managers of Hybrid Mutual Funds analyze the markets, study different sectors of the economy and then decide which funds you should invest in.
Given below are a few Hybrid Funds by LIC-
- LIC MF Debt Hybrid Fund
- LIC MF Equity Hybrid Fund
- LIC MF Unit Linked Insurance
- LIC MF Arbitrage Fund
- LIC MF Children’s Gift Fund
Fund Managers for LIC Mutual Fund
- Mr. Sachin Relekar
Currently working as the Chief Investment Officer, Mr. Sachin Relekar is an alumnus of Jamnalal Bajaj Institute of Management Studies. He has over 17 years of work experience in Equity Research and Business Development. With LIC, he handles fund management of the LIC MF Tax Plan.
- Mr. Marzban Irani
Prior to LIC, Mr. Marzban Irani was working with Mirae Asset Management Company as a Fund Manager. At present, Mr. Irani oversees the debt portfolio as the Fund Manager of LIC Mutual Funds. He holds a Post Graduate Diploma in Business Management from Chetna’s Institute of Management & Research.
- Mr. Yogesh Patil
With over 16 years of experience in the Indian Equity Market, Mr. Yogesh Patil is one of the leading names in capital marketing. He currently manages LIC Multicap Fund, LIC Equity Hybrid Fund, LIC BFSI Fund. He was previously working with Canara Robeco Asset Management Company Limited as a Senior Fund Manager.
- Mr. Saravana Kumar Ananthan
Employed as the Chief Investment Officer at LIC, Mr. Saravana Kumar Ananthan is an MBA in Finance Indian Institute of Management and has completed his CAIIB from the Indian Institute of Bankers. Mr. Saravana has over 25 years of professional experience and brings along proven expertise in the area of investment management.
How to Invest in Mutual Funds via Paisabazaar.com?
Step 1: On Paisabazaar.com, select the ‘Mutual Fund’ option.
Step 2: If you are a registered user, log in onto the platform using your mobile number and password/OTP. Or create a new account.
Step 3: Choose ‘Invest’ > ‘Explore All Funds’ on the left sidebar.
Step 4: Select the LIC Mutual Fund of your choice. Now, all the details of the fund including NAV, risk level, etc. will appear.
Step 5: Enter the amount you wish to invest, select the investment type – SIP or Lumpsum, and click on the ‘Confirm & Add to Cart’ option.
Step 6: You can complete the payment using net banking of major Indian banks. The mutual fund units will be allotted to you within 5 working days.
The mutual fund units will be allotted to you within 5 working days. If you’re not KYC Compliant, you will need to complete your KYC before investing in mutual fund schemes.
How to Complete Your KYC Check for LIC Mutual Fund
KYC (Know Your Customer) is a one-time customer identification process and a mandatory compliance requirement for investors who wish to invest in Mutual Funds. It has been made compulsory by the capital markets regulator SEBI (Securities and Exchange Board of India) for mutual fund investments in order to curb fraudulent activities.
If you’re a first time customer, you need to get your KYC Check before investing in Mutual Funds.
The KYC Process can be initiated and completed with any of the following SEBI-registered intermediaries:
- The Fund House (Asset Management Company)
- KYC Registration Agency (KRA) such as CAMS, Karvy, CSDL (Central Depository Services Limited) Ventures, NSDL (National Securities Depository Limited) and NSE-owned (National Stock Exchange) DotEx International Limited
To complete your KYC online, follow these steps-
Step 1: Visit the website of a fund house or any of the above-mentioned KRA’s website and create an investor account by filling in your personal details and your Aadhaar-linked mobile number so that you can verify the account using that OTP.
Step 2: Upload self-attested copies of your Identity Proof and Address Proof.
That’s all. Your eKYC process is done!
Documents Required for Mutual Fund Investment
Here is a list of official documents required to validate the identity and address of an investor:
1. Identity Proof
- Aadhar Card
- PAN Card
- Driving License
2. Address Proof
- Aadhar Card
- Driving License
- Recent Utility Bill
- Rental/Lease Agreement
Frequently Asked Questions
Q. What is an Asset Management Company (AMC)?
A. AMC is an organization that manages the pooled funds from numerous investors and invests them in various financial securities to generate returns.
Q. What is Net Asset Value (NAV)?
A. Net Asset Value measures the performance of an individual mutual fund scheme of an AMC. In essence, it is the market valuation of the securities the fund has invested in. So, the NAV per unit is derived from dividing the total market value of all the invested securities by the total number of units issued. Since the number of unitholders and valuation of securities changes every day, the NAV of a mutual fund also changes accordingly.
Q. What is Expense Ratio?
A. Expense Ratio refers to a small amount of fee charged by Asset Management Companies annually to manage investors’ assets. It covers the operating and managing cost incurred by the AMC. It is a percentage of the total assets invested by the investor.
Q. What is Entry Load?
A. When an investor purchases units of a mutual fund scheme for the first time, s/he is charged a small amount of processing fee by the Asset Management Company which is known as an Entry Load.
Q. What is Exit Load?
A. When investors redeem their investment from a mutual fund scheme, s/he is charged a small amount of processing fee which is known as an Exit Load. It is also charged when investors choose to switch between different mutual fund schemes of a specific AMC.
List of Best Performing LIC Mutual Fund Schemes
|Fund Name||Category||Latest Nav||1 year Return||3 year Return||AUM (Cr)|
|LIC MF Banking & Financial Services Fund – Direct Plan||Sectoral/Thematic||11.85||19.2||5.15%||7.76|
|LIC MF Banking & Financial Services Fund – Regular Plan||Sectoral/Thematic||11.32||18.1||2.37%||52.26|
|LIC G-Sec LTE Fund – Regular Plan||Index Funds/ETFs||19.72||16.1||7.41%||76.77|
|LIC MF Large Cap Fund Direct Plan||Large Cap Fund||29.34||13.2||9.88%||40.32|
|LIC Bond Fund Direct Plan||Medium to Long Duration Fund||53.65||12.9||6.37%||79.21|
|LIC Tax Plan Direct Plan||ELSS||73.65||12.2||11.61%||11.79|
|LIC Bond Regular Plan||Medium to Long Duration Fund||51.72||12.1||6.35%||191.92|
|LIC MF Large Cap Regular Plan||Large Cap Fund||27.6||12||6.53%||240.55|
|LIC MF Banking & PSU Debt Fund Direct Plan||Debt Fund||25.93||11.6||8.30%||207.13|
|LIC MF Banking & PSU Debt Regular Plan||Debt Fund||24.79||11||7.81%||243.56|
|LIC Tax Plan Regular Plan||ELSS||69.04||11||8.31%||210.37|
|LIC MF Equity Hybrid Fund Direct Plan||Aggressive Hybrid Fund||111.29||10.6||7.50%||82.22|
|LIC MF Large & Mid Cap Fund Direct Plan||Large & Mid Cap Fund||16.1||10.2||11.31%||75.44|
|LIC MF Equity Hybrid Regular Plan||Aggressive Hybrid Fund||104.58||9.6||5.14%||265.33|
|LIC MF Large & Mid Cap Regular Plan||Large & Mid Cap Fund||15.21||9||9.11%||392.82|
|LIC MF Debt Hybrid Fund Direct Plan||Conservative Hybrid Fund||59.17||8.8||6.11%||2.71|
|LIC MF Debt Hybrid Regular Plan||Conservative Hybrid Fund||56.24||7.8||5.30%||68.61|
|LIC MF Multicap Fund Direct Plan||Multi Cap Fund||50.09||7.5||7.67%||19.21|
|LIC Liquid Fund Direct Plan||Liquid Fund||3,502.09||7.2||7.07%||8,971.03|
|LIC Liquid Regular Plan||Liquid Fund||3,477.28||7||6.97%||1,439.13|
|LIC MF Multicap Regular Plan||Multi Cap Fund||47.77||6.6||3.90%||260.07|
|LIC Index Sensex Direct Plan||Index Funds/ETFs||73.6||5.5||11.80%||5.93|
|LIC Index – Sensex Regular Plan||Index Funds/ETFs||71.05||5||9.38%||13.31|
|LIC MF Savings Plus Direct Plan||Low Duration Fund||29.84||4.5||6.35%||594.18|
|LIC Index Nifty Direct Plan||Index Funds/ETFs||64.91||4||10.38%||12.39|
|LIC MF Savings Regular Plan||Low Duration Fund||28.47||3.9||5.82%||727.4|
|LIC Index – Nifty Plan Regular Plan||Index Funds/ETFs||62.69||3.4||7.76%||15.36|