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LIC or the Life Insurance Corporation of India is one of the most trusted financial organisations in the country. In recent times, the company has been in the news for the partial sale of its stake to private players. Although most famous in the insurance sector, it has only a moderate presence in the mutual fund market. However, its management team has in recent years decided to expand the fund and has declared its goal to reach an AUM of ₹1 lakh crore by FY27.
LIC Mutual Fund, which has an AUM of ₹25,104 crores, offers 38 schemes in a variety of categories, including 16 equity, 11 debt, and 4 hybrid mutual funds. Learn about the details of the LIC MF programme, compare historical results, and invest in the best LIC mutual funds. Consider investing in mutual fund plans that match your investment goals, risk tolerance, and fund alternatives.
Given the huge amount of trust it enjoys among retail investors and the years of experience they have in the financial markets, LIC is one of the most interesting players in the mutual fund market as of now.
| Founding date | April 20, 1994 |
| AMC incorporation date | April 20, 1994 |
| Headquarters in | Churchgate, Mumbai |
| Name of the sponsors | Life Insurance Corporation of India |
| Trustee organisation | LIC Mutual Fund Trustee Private Limited |
| MD and CEO | Mr. Raj Kumar |
| Chief investment officer | Mr. Marzban Irani |
| Compliance officer | Mr. Mayank Arora |
RS
Rahul Singh
Fund Manager since Sep 2015 (8 years)
YP
Yogesh Patil
Fund Manager since Mar 2013 (11 years)
MI
Marzban Irani
Fund Manager since Aug 2016 (7 years)
KD
Karan Desai
Fund Manager since Oct 2018 (5 years)
RP
Rupali Pandit
Fund Manager since Oct 2018 (5 years)
BK
Bhupesh Kalyani
Fund Manager since Feb 2017 (7 years)
RS
Raju Sharma
Fund Manager since May 2017 (6 years)
AR
Alok Ranjan
Fund Manager since Feb 2019 (5 years)
Investing in the LIC Mutual Fund can be easy if you use your Angel One account. All you need to do is follow these steps:
Step 1: Log in to your Angel One account by entering your mobile number and validating the OTP. If you do not have an account with Angel One, you can open a demat account in a few minutes by submitting the required documents. Next, enter your MPIN.
Step 2: Determine which fund is best suited for your needs and risk profile. You can explore different funds on the Angel One app and consider factors such as past performance, tax implications, the sectors and companies the fund invests in, potential returns, risk level, ratings given by reputed agencies, and expense ratio.
Step 3: Once you have selected the fund(s) you want to invest in, open your Angel One account, go to the Mutual Funds section, and search for the chosen fund.
Decide whether you want to invest through a lump sum or monthly SIP. Enter the amount you want to invest and choose your preferred payment method, with UPI being the recommended option. If you choose the SIP route, you can set up a mandate for future instalments. Finally, place your order and complete the transaction.
Remember to be careful when choosing the fund(s) as this can be a long-term investment.
You can learn more about each fund on the Angel One app.
Investing in LIC Mutual Funds through Angel One is a streamlined and entirely digital process, ensuring a hassle-free investment experience. To initiate your investment journey, it is imperative to complete the KYC process, for which you’ll need to furnish the following essential documents:
Angel One simplifies the KYC verification process, granting you swift and efficient access to LIC Mutual Funds, whether you’re a new or returning investor. Our user-friendly platform is designed to make your financial goals attainable. You can anticipate your KYC verification to be finalized in just 48-72 business hours, paving the way for you to embark on your mutual fund journey.
| Name of the Fund | Sub Category | AUM (₹in crore) | Minimum Investment (₹) | CAGR 3Y (%) | CAGR 5Y (%) |
| LIC MF Small Cap Fund | Small Cap Fund | 170.59 | 5,000 | 35.85 | 20.6 |
| LIC MF Infra Fund | Sectoral Fund – Infrastructure | 116.11 | 1,000 | 35.84 | 19.9 |
| LIC MF Banking & Financial Services Fund | Sectoral Fund – Banks & Financial Services | 284.1 | 3,000 | 26.3 | 14.59 |
| LIC MF Midcap Fund | Mid Cap Fund | 206.28 | 5,000 | 24.15 | 15.32 |
| LIC MF Long Term Value Fund | Value Fund | 96.11 | 1,000 | 23.12 | 13.96 |
| LIC MF Large & Midcap Fund | Large & Mid Cap Fund | 2197.93 | 1,000 | 22.35 | 16.33 |
| LIC MF Dividend Yield Fund | Dividend Yield Fund | 89.82 | 5,000 | 21.82 | – |
| LIC MF ELSS | Equity Linked Savings Scheme (ELSS) | 955.94 | 500 | 21.39 | 14.52 |
| LIC MF Focused 30 Equity Fund | Focused Fund | 128.72 | 5,000 | 20.49 | 13.27 |
| LIC MF Nifty 50 Index Fund | Index Fund | 225.28 | 5,000 | 20.41 | 13.18 |
**All data as of October 4, 2023.
Selection Criteria: The funds chosen have demonstrated the highest Compound Annual Growth Rate (CAGR) over the past 3 years.
This fund is categorised as a small cap fund, which primarily focuses on investing in stocks of small-cap companies. It currently manages Assets Under Management (AUM) of ₹170.59 crore. The expense ratio for this fund is 1.53%, indicating the annual expenses incurred by investors. Over the past 3 years, it has shown an average compound annual growth rate (CAGR) of 35.85%. The minimum investment amount for this fund is ₹5000.
LIC MF Infra Fund falls under the Sectoral Fund – Infrastructure category, focusing on investments in infrastructure-related sectors. The AUM for this fund is ₹116.11 crore, with an expense ratio of 1.47%. Over a 3-year period, it has delivered a CAGR of 35.84%. The minimum investment requirement for this fund is ₹1,000.
Categorised as a Sectoral Fund – Banks & Financial Services, this fund concentrates on investments in the banking and financial sectors. It manages an AUM of ₹284.1 crore and has an expense ratio of 1.54%. Over the last 3 years, it has provided an average CAGR of 26.3%. The minimum investment amount for this fund is ₹3,000.
LIC MF Midcap Fund operates as a mid cap fund, focusing on mid-sized companies’ stocks. With an AUM of ₹206.28 crore and an expense ratio of 1.58%, it has delivered a 3-year CAGR of 24.15%. The minimum investment threshold for this fund is ₹5,000.
This is a value fund aiming to invest in undervalued stocks for the long term. It manages an AUM of ₹96.11 crore and has an expense ratio of 1.62%. Over the past 3 years, it has shown a CAGR of 23.12%. The minimum investment amount for this fund is ₹1,000.
Falling under the large and mid cap fund category, this fund invests in both large and mid-sized company stocks. It manages an AUM of ₹2197.93 crore and has an expense ratio of 0.81%. Over a 3-year period, it has provided an average CAGR of 22.35%. The minimum investment required for this fund is ₹1,000.
This is a dividend yield fund, which focuses on stocks with a history of paying dividends. It manages an AUM of ₹89.82 crore and has an expense ratio of 1.45%. Over the last 3 years, it has delivered an average CAGR of 21.82%. The minimum investment amount for this fund is ₹5,000.
LIC MF ELSS is an Equity Linked Savings Scheme (ELSS) designed for tax-saving purposes. It manages an AUM of ₹955.94 crore and has an expense ratio of 1.29%. Over a 3-year period, it has shown an average CAGR of 21.39%. The minimum investment required for this fund is ₹500.
This is a focused fund that concentrates its investments in a limited number of carefully selected stocks. It manages an AUM of ₹128.72 crore and has an expense ratio of 1.57%. Over the past 3 years, it has provided an average CAGR of 20.49%. The minimum investment amount for this fund is ₹5,000.
LIC MF Nifty 50 Index Fund operates as an Index Fund, closely mirroring the performance of the Nifty 50 index. It manages an AUM of ₹225.28 crore and has an exceptionally low expense ratio of 0.2%. Over a 3-year period, it has delivered an average CAGR of 20.41%. The minimum investment required for this fund is ₹5,000.
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