In catch-up game, LIC MF aims to enter big boys' club in next 5 yrs

LIC AMC, which has been stuck with fixed income schemes for long, has filed for three new schemes in the debt equity and money market spaces and has 26 schemes running now

LIC Mutual Fund, having missed the growth bus in the past three decades of operations, is on a catch-up bid and has set a target of crossing the Rs 1-lakh-crore-AUM-mark in the next five years.
 

The past few years have seen the 43-player mutual fund industry growing at an exponential pace both in terms of Assets under management (AUM) and number of folios.
 

The AUM jumped 14 per cent on-year in June 2022 to Rs 37.74 lakh crore, while the number of folios grew to an all-time high of 13.55 crore, according to the latest Amfi data.
 

Biggest player SBI