LIC MF aims to be amongst top 10 over the next five years
LIC Mutual Fund, aims to be amongst the top 10 mutual fund houses over a five year period.
“We want to increase penetration of mutual funds and focus on SIPs. We are strengthening our team and market positioning,” says TS Ramakrishnan, MD & CEO LIC MF. Ramakrishnan points out that few big distribution partners are closely observing their scheme performance and expects them to start selling their products soon. Currently the fund house has an AUM of Rs 17,817 crore as of March 2022 and ranks 22 in the 43 player MF industry.
While the fund house is looking to boost its digital presence to reach out to new investors, it has also recently opened branches in two tier and three tier centres like Varanasi, Indore, Gurugram, Ludhiana . It will also open branches in Vijayawada & Noida soon.
On competition coming from new age fintech players like Zerodha , Paytm and Orowealth who plan to enter the mutual fund space Ramkrishnan believes new players expand the market and reach out to new potential investors.
