LIC Mutual Fund – Review, Fund Managers, KYC Process, Top Funds, Fees & more

So, in this article, we will talk about each of the details of this premier Mutual Fund Company – LIC Mutual Fund AMC.

LIC is a name that hardly anyone wouldn’t know about in India. It is known for its insurance products for years and it is also quite popular amongst mutual fund investors. 

With great ratings from CRISIL for its asset management company, it is providing ample schemes and investment products to the investors. 

The firm is one of the most trustworthy financial service providers and has a very loyal customer base who invests in mutual funds as well.

We will guide you about the process of registering with LIC Mutual Fund AMC, KYC process, and the documents you would require for the same. 

Then the article will discuss the fund managers who are the pillar of the fund house and provide the fund management services to the clients.

In the later section of the article, we will talk about the fees and other charges which this firm takes for rendering the services. 

Then we will compare the funds according to different metrics like NAV, highs, and Lows of the last 52 weeks, the performance of the last 5 years, and others.

About LIC Mutual Fund

LIC Mutual Fund AMC was established in the year 1989. It is a subsidiary company of the premier LIC Group of Companies. 

It is incorporated to explore the investment market and also set financial ethics in it. With a loyal clientele, LIC Mutual Fund AMC is one of the top-rated AMC in the country at present. 

It is having more than 60 mutual fund schemes to invest in. These schemes are having different underlying assets and a mix of assets which make them appealing for all types of investors with different risk appetites.

While the company provides a lump-sum investment option, there are also short-term fund schemes available with them. 

There are SIP investment options as well where you can invest in mutual funds every month. 

SIP investment is one of the best ways to invest as you can invest small amounts monthly and generate income on them.

The LIC Mutual Fund AMC has a very high standard and financial ethics which help them secure the foundation and have a loyal customer base. 

It also has joined hands with Nomura Group which is a Japanese firm to offer better mutual fund services to the clients.

Different fund managers are handing multiple groups of asset classes that are analyzed and used for investment. 

Some of the top mutual funds of the AMC are LIC MF Arbitrage Fund, LIC MF Banking, and PSU Debt Fund, LIC MF Banking and Financial Services Fund, and others.

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Why Invest in LIC AMC?

If you are looking for reasons to invest with LIC Mutual Fund AMC then here are a few to satisfy your query –

Brand in the industry

LIC is a brand in India and investing in its mutual fund schemes can be beneficial. Often popular mutual funds help you achieve more profit than the other ones.

LIC provides a gamut of financial services and thus it is regarded as one of the top mutual fund companies as well.

Huge experience

With brand value comes experience. The LIC Mutual Fund AMC has experienced more than most of the fund houses in the country.

It is one of the oldest financial service providers in the country and thus you can imagine how much experience it holds.

This helps them create schemes for the investors that will help generate great returns.

Efficient Fund Managers

Fund managers who run any asset management company are like the pillars of the firm.

In LIC Mutual Fund AMC, the fund managers are having years of experience in research analysis of financial and money market.

This helps them choose the right fund for the right investor and the right duration. This in turn creates wealth for the investors easily.

Loyal Clientele

LIC Mutual Fund AMC having a loyal clientele helps them keep the NAV of the schemes at the top.

Since the investors keep on trading the schemes and invest in them, the funds remain active and thus generate better returns.

Multiple Schemes

There are an array of mutual fund schemes that you can invest in. The fund house provides multiple schemes which include equity schemes, hybrid schemes, debt schemes, and others.

This helps the investors to diversify their investment in the right manner.

Secured Investment

With LIC, your investment is secure and this can be treated as one of the most important features as well as the benefit of the company.

The clients have faith in the LIC group and so in LIC Mutual Fund AMC.

They know that this firm is not going to run away with their invested amount. Moreover, it is a SEBI registered Asset management company.

How to Invest in LIC Mutual Funds?

Investing in LIC Mutual Fund AMC is hassle-free. If you want to invest in LIC Mutual Fund AMC then you can just follow these steps –

1. Create your account on this website. You need to enter your details like name, address, occupation, and other details.
2. You need to upload certain documents like the AADHAAR Card, PAN Card for verification purposes.
3. Once upload the documents, your profile would be created and then you can start investing. However, KYC needs to be complete before you can invest.
4. For investing you need to first select the investment duration. This is the time for which you want to invest the money. For instance, say you want to buy a house after five years. So, you need to save and invest for these five years. Choose the duration of investment as five years.
5. Similarly, choose the amount of risk you want to take for your investment. You might take high risk, moderate risk as well as low risk. This depends on your risk appetite.
6. Then you have to select the LIC Mutual Fund AMC from the list of all the AMCs.
7. Under LIC Mutual Fund AMC, select the scheme you want to choose for investment.
8. Do thorough research about the scheme before choosing the same. Compare different mutual fund schemes of LIC Mutual Funds.
9. Then select the scheme and enter the amount you want to invest.
10. You also need to choose the type of investment – One-time or SIP.
11. Then proceed to make the payment by using online banking or other payment applications.
12. The funds will get reflected in your account within 3-4 working days.

LIC AMC – Fund Managers 

The fund managers who are the backbone of the fund house and strive for providing better returns on investment to the investors are mentioned below –

Sachin Relekar

Mr.Relekar has been a part of the LIC Mutual Fund AMC for 8 years now and he is taking care of the LIC MF Tax Plan.

He is having 17 years of experience in the field of finance and equity research and business development and joined LIC Mutual Fund AMC in the year 2008 and before that he used to work for the Tata Asset Management Limited in 2007.

He is currently handling Rs.227 crores of assets also takes care of both equity and debt funds and did his MBA from the Jamnalal Bajaj Institute of Management which is one of the top institutes for management studies.

Marzban Irani

With more than nineteen years of experience in the field of research of equities and stock market and managing funds, he is one of the most sought after fund manager in the LIC Mutual Fund AMC.

He has around Rs.265.96 crores of assets under his management and has worked in multiple companies as research analysts, fund managers, and in a similar position. He looks after the LIC MF Bond Fund and other similar funds.

Rahul Singh

Being an alumnus of the premier management institute of the country that is IIM Lucknow, he is one of the most celebrated fund managers of the firm. He is having more than 23 years of experience in the field of equity research and fund management.

He worked in different companies that are well known for financial services like Tata Asset Management Company. Here he worked as the Chief Investment Officer in the equities section.

Then there is Ampersand Capital where he was a managing partner and similar profiles are under his belt.

At LIC Mutual Fund AMC, he manages over Rs. 8800 crores of assets. The funds he mainly deals in are G-sec Long Term ETF and others.

Yogesh Patil

With an MBA degree from the premier Symbiosis Institute of Business Management and 16 years of experience under his belt, he is another applauded fund manager of LIC Mutual Fund AMC.

He is looking after Rs.160.1 crores of assets at present in LIC Mutual Fund AMC.

He manages the funds which include the following LIC MF Banking and Financial Services Fund, LIC MF Index Nifty Fund, LIC MF Debt hybrid Fund, LIC MF Index Sensex, and others.

Saravana Kumar Ananthan

He is the current Chief Investment Officer of LIC Mutual funds and looks after the funds like LIC MF equity, LIC MF MIP, LIC MF Children’s Gift Fund, LIC MF Index Sensex Fund, and many others.

Mr. Saravana is one of the most senior fund managers with more than 25 years of experience in the market and his studied MBA from the premier IIM and also has many other degrees and course certificates in the same niche under his belt.

He is very efficient when it comes to choosing the right schemes for the right investor.

Shri Raj Kumar

He is another one having more than 32 years of experience and working as a whole-time director of the firm. Under him, there is an asset worth Rs.24475 crores.

He is one of the most sought after fund manager in the industry. The fund which he looks after is equity funds, hybrid, and debt funds as well.

There are also solution-oriented funds, ETFs, and indexed funds.

LIC Mutual Fund – Key Personnel

The key personnel of the LIC Mutual Fund AMC is as follows –

• Shri Dinesh Pangtey is the Whole-time Director of the firm and also the CEO.
• Shri M.R. Kumar is the Nominee Director of the firm.
• Siddhartha Mohanty is another Nominee Director of the firm.
• Shri Kailash Kumar Bang is the independent director.
• Then there is Shri Satisk K. Kamat who is also an independent director.
• Shri Sanjay A. Muthal is also an independent director.

How to do KYC Check for LIC Mutual Fund? 

The KYC is important for every investor before they start investing. With LIC Mutual Fund AMC, you can complete your KYC process within a blink of an eye –

• Open the LIC Mutual Fund website
• Login to your account
• Arrange the documents which you will require for verification purpose. The list will be given below.
• Self-attest the photocopies of the documents and then upload.
• Once you upload, the KYC will be done for your account.

Documents Required to Invest in LIC AMC

The documents which you will require for KYC are as follows –

• PAN Card
• AADHAAR Card
• Voter ID
• Passport

These above-mentioned documents are required as identity proof. You can upload any one of these four as your identity proof.

For the address proof, you can use any one of the below-mentioned documents –

• Electricity Bill
• Phone Bill
• Rental Agreement
• Others as mentioned on the website.

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LIC Mutual Fund Fees or Charges

Details of LIC AMC Fees

LIC Mutual Fund AMC charges very reasonable fees for investing in mutual funds with them. As you can see in the table above, there is no entry load or fees for investing in the fund. 

There is a fee for withdrawing the fund through which ranges from 0.5% to 2%. However, if you compare the funds given in this table, there is only one with a 2% exit load. 

The minimum investment required for most of the funds like LIC MF Arbitrage Fund, LIC MF Banking, and Financial Services Fund, LIC MF Banking and PSU Fund, LIC MF Bond Fund, and all others are only Rs.5000. 

There is only one fund within these ten funds where the minimum investment is Rs.10000 and that is for LIC MF Government Securities Fund. 

For most of the funds, the exit load is 1% which is very nominal.

Best Performing LIC Mutual Fund

Details of Best LIC Mutual Funds

Let us now compare the top ten funds according to the performance of 1 year. The fund’s return was amazing as you can refer to the table. 

The fund which performed the best in the last year is LIC MF Large and Mid-cap fund. It has a size of Rs.862 crore is the underlying asset value and the return is generated in a year is 13.90%. 

Then there is LIC MF Index Fund – Sensex Plan with 28 crores of assets and it returned 12.30% to the investors. 

The next is the LIC MF G-Sec Fund with 70 crores of assets and the return was 11.60%. 

By comparing the funds’ performance, you can understand which fund is performing in the market and you can then choose wisely amongst the funds.

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Top 10 LIC AMC Funds 

Details of Top LIC Mutual Fund Schemes

When you compare mutual fund schemes, AMCs the most important metric is 5-years return and 3-years return. 

Here in this section, we will check the same for the funds of LIC Mutual Fund AMC. 

According to the five years return, the top three funds are LIC MF Arbitrage Fund which is a growth fund. 

Then there is another growth fund that is LIC MF Index Fund – Sensex Plan and then there is LIC MF Index Fund – Nifty Plan. 

All three funds returned great returns in the previous few years. The 5-years return varied from 78.66 % to 34.74% for all the ten top funds. 

The range itself is huge and even the least return is huge according to the market average.

Best LIC Mutual Fund – Portfolio

Details of Top LIC AMC Portfolios

According to the market value of the fund, the top fund of LIC Mutual Fund AMC is LIC MF Savings Fund. It is a growth fund with a direct investment plan. 

The fund has a market value of Rs.45000 crores and the Net Asset Value of the fund is Rs.1337759.17 crores. The fund got ‘AAA’ ratings from CRISIL. 

The next is LIC MF Banking and PSU Debt Fund which is a growth fund as well. It has a market valuation of Rs.30098.97 crores and the Net Asset of Rs.1904998.05 crores. 

The top ten funds of LIC Mutual Fund have a market value ranging from Rs.122.59 crores to Rs.45000. All these funds have triple ‘A’ ratings.

LIC Mutual Fund Schemes NAV

Details of Top LIC Funds NAV

Now coming to the metric which is required to understand the volatility present in the fund. So, we check the 52 weeks highs and lows of the fund’s NAV. 

According to that, the more volatile fund was the LIC MF Equity Hybrid Fund with a 52 week high of Rs.127.98 and the low was Rs.86.78. 

Then there was LIC MF Debt Hybrid Fund which is another growth fund. The fund topped at Rs.66.77 and the low in 52 weeks was Rs.57.19 which suggests the volatility was moderate. 

The other funds in the list had moderate to low volatility as depicted by the 52-week highs and lows.

LIC AMC Customer Care Details

Details

The customer care of LIC Mutual Fund AMC can be reached using the email id – service@licnomuramf.com. You can also call them on the given phone number on the table. 

You can visit their office on the 4th Floor of the Industrial Assurance Building which is opp. To Churchgate Station in Mumbai. 

The customer care executives are helpful and try to understand your query and then solve it properly.

LIC AMC – Important Links

Conclusion – LIC AMC

To conclude, we can say the investing with LIC Mutual Fund AMC can be a great decision. Multiple numbers of schemes suit the investment goal of different investors. 

The charges of investing are also pretty low. The process is really easy and that’s all an investor would want from the AMC. 

The fund managers are prudent and they are always seeking great opportunities for providing better returns to the clients.

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