On March 31, 2011, LIC Mutual Fund Trustee Company Private Limited and LIC Mutual Fund AMC executed a joint venture with Nomura Asset Management Company Limited after Nomura acquired 35% of the fully paid-up equity share capital of LIC Mutual Fund AMC and the Trustee Company.
LIC Mutual Fund Trustee Company Pvt. Ltd. was renamed LIC NOMURA Mutual Fund Trustee Company Pvt. Ltd. In contrast, LIC Mutual Fund Asset Management Company Ltd. was renamed LIC Nomura Mutual Fund Asset Management Company Ltd. In May 2016, the company was renamed LIC Mutual Fund Asset Management Limited following Nomura’s exit.
Overview of LIC Mutual Fund
LIC Mutual Fund was constituted as a trust on April 20, 1989, under the provisions of the Indian Trusts Act, 1882 (2 of 1882), with LIC of India as the Sponsor & Settler and LIC Mutual Fund Trustee Private Ltd. as the Trustee. The Mutual Fund was registered with SEBI on May 9, 1994. Through its Board of Directors, LIC Mutual Fund Trustee Private Ltd. discharges its obligations as trustee of LIC Mutual Fund.
LIC Mutual Fund offers diverse equity, debt, hybrid, and tax-saving schemes. LIC MF remains a mid-sized MF player with an AUM of around Rs 30,000 crore.
Key Information About LIC Mutual Fund
How to Invest in the LIC Mutual Fund
Investing in the best LIC Mutual Funds can be a complex process. To make it easier, here is a step-by-step guide:
1. Choose Your Mutual Fund Type
According to your risk tolerance (low, mid, or high) and financial goals, choose your mutual types, such as equity, debt, hybrid, index, and sector funds.
2. Select a Mutual Fund Scheme
After carefully analysing the historical returns, expense ratio, reviews, and ratings of different schemes, choose your preferred LIC Mutual Fund.
3. Login or Open a Demat Account
Log in to your Stack Wealth account. If you do not have an account, you can register with your mobile number and create a new one immediately.
4. Complete KYC (Know Your Customer) Requirements
The next step involves providing personal information and verifying identity. You must upload a government-issued ID such as PAN, Aadhar and proof of address. Follow the instructions in the app to complete this step smoothly.
5. Select Investment Mode (SIP or lumpsum)
If you prefer regular, disciplined investing, you can set-up a systematic investment plan (SIP), which is periodic (monthly, quarterly, etc.). Alternatively, if you have a large amount to invest, you can make a lump-sum investment. Select the investment period of your choice.
6. Confirm and Track Your Investment
After setting up your investment, sit back and watch your money grow. The Stack Wealth app will provide regular updates and reports on your portfolio’s performance. You can also adjust your investments or withdraw funds as needed.
List of Best LIC Mutual Funds in India
Here is the list of some of the best LIC Mutual Funds in India:
* All data as of 31 Jan 2025
Detailed Overview of LIC Mutual Fund Schemes
Now, let’s discuss these 10 LIC Mutual Fund schemes in detail:
1. LIC MF Large & Midcap Fund - Regular Plan-Growth
LIC MF Large & Midcap Fund is an open-ended equity scheme investing substantially in a portfolio of equity and equity-linked instruments of large and mid-cap companies to generate long-term capital appreciation.
- Fund Performance: The fund's annualized returns over the past three and five years have been around 14.13% and 17.19%, respectively. In three years, the current value of a Standard Investment of ₹10,000 will become around ₹14,872.
- Minimum Investment Amount: The minimum lump sum for the LIC MF Large & Midcap Fund is ₹5000; for Min Add Lumpsum, it is ₹500; for SIP, it is ₹100 (Daily), ₹200 (Monthly), and ₹1000 (Quarterly). The minimum redemption amount is ₹500.
2. LIC MF Infrastructure Fund - Regular Plan-Growth
LIC MF Infrastructure Fund is an equity scheme that aims to generate long-term growth from a portfolio of equity and equity-related instruments of companies involved either directly or indirectly in the infrastructure sector.
- Fund Performance: The fund's annualized returns over the past three and five years have been around 26.87% and 24.68%, respectively. In three years, the current value of a Standard Investment of ₹10,000 will become around ₹20,433.
- Minimum Investment Amount: The minimum lump sum for the LIC MF Infrastructure Fund is ₹5000; for Min Add Lumpsum, it is ₹500; for SIP, it is ₹100 (Daily), ₹200 (Monthly), and ₹1000 (Quarterly). The minimum redemption amount is ₹500.
3. LIC MF Gilt Fund - Regular Plan-Growth
LIC MF Gilt Fund is an open-ended debt scheme that invests in the government securities across maturity with the primary objective to generate credit risk-free and reasonable returns for its investors.
- Fund Performance: The fund's annualized returns over the past three and five years have been around 5.63% and 5.82%, respectively. In three years, the current value of a Standard Investment of ₹10,000 will become around ₹11,786.
- Minimum Investment Amount: The minimum lump sum for the LIC MF Gilt Fund is ₹10000; for Min Add Lumpsum, it is ₹500; for SIP, it is ₹100 (Daily), ₹200 (Monthly), and ₹1000 (Quarterly). The minimum redemption amount is ₹500.
4. LIC MF Aggressive Hybrid Fund - Regular Plan-Growth
LIC MF Aggressive Hybrid Fund is an open-ended hybrid scheme investing predominantly in equity and equity-related instruments. The goal is to provide regular returns and capital appreciation by investing in equities and debt according to the plan selection.
- Fund Performance: The fund's annualized returns over the past three and five years have been around 9.79% and 11.58%, respectively. In three years, the current value of a Standard Investment of ₹10,000 will become around ₹13,239.
- Minimum Investment Amount: The minimum lump sum for the LIC MF Aggressive Hybrid Fund is ₹5000; for Min Add Lumpsum, it is ₹500; for SIP, it is ₹100 (Daily), ₹200 (Monthly), and ₹1000 (Quarterly). The minimum redemption amount is ₹500.
5. LIC MF Medium to Long Duration Fund - Regular Plan-Growth
LIC MF Medium to Long Duration Fund is an open-ended medium-term debt scheme investing in debt instruments with portfolio’s Macaulay Duration between 4-7 years
- Fund Performance: The fund's annualized returns over the past three and five years have been around 6.30% and 5.69%, respectively. In three years, the current value of a Standard Investment of ₹10,000 will become around ₹12,014.
- Minimum Investment Amount: The minimum lump sum for the LICMF Medium to Long Duration Fund is ₹ 5,000; for the Min Add Lumpsum, it is ₹500; for SIP, it is ₹100 (Daily), ₹200 (Monthly), and ₹1000 (Quarterly). The minimum redemption amount is ₹500.
6. LIC MF Banking and Financial Services Fund - Regular Plan-Growth
LIC MF Banking and Financial Services Fund is an open-ended equity scheme investing substantially in equity and equity-related securities of banking and financial services companies. The scheme strives to generate long-term capital appreciation for unit holders.
- Fund Performance: The fund's annualized returns over the past three and five years have been around 7.84% and 8.18%, respectively. In three years, the current value of a Standard Investment of ₹10,000 will become around ₹12,545.
- Minimum Investment Amount: The minimum lump sum for the LIC MF Infrastructure Fund is ₹5000; for Min Add Lumpsum, it is ₹500; for SIP, it is ₹100 (Daily), ₹200 (Monthly), and ₹1000 (Quarterly). The minimum redemption amount is ₹500.
7. LIC MF Conservative Hybrid Fund - Regular Plan-Growth
LIC MF Conservative Hybrid Fund is an open-ended hybrid scheme investing mainly in a portfolio of quality money market instruments and debt securities to generate steady income.
- Fund Performance: The fund's annualized returns over the past three and five years have been around 5.73% and 6.64%, respectively. In three years, the current value of a Standard Investment of ₹10,000 will become around ₹11,821.
- Minimum Investment Amount: The minimum lump sum for the LIC MF Conservative Hybrid Fund is ₹5000; for Min Add Lumpsum, it is ₹500; for SIP, it is ₹100 (Daily), ₹200 (Monthly), and ₹1000 (Quarterly). The minimum redemption amount is ₹500.
8. LIC MF ELSS Tax Saver Fund - Regular Plan-Growth
LIC MF ELSS Tax Saver Fund is an open-ended equity-linked saving scheme with a statutory lock-in of 3 years. The goal is to provide capital growth, tax rebate, and tax relief to investors through prudent investments in the stock markets.
- Fund Performance: The fund's annualized returns over the past three and five years have been around 13.98% and 14.83%, respectively. In three years, the current value of a Standard Investment of ₹10,000 will become around ₹14,812.
- Minimum Investment Amount: The minimum lump sum for the LIC MF ELSS Tax Saver Fund is ₹500; for Min Add Lumpsum, it is ₹500; for SIP, it is ₹500 (Daily), ₹500 (Monthly), and ₹1000 (Quarterly). The minimum redemption amount is ₹500.
9. LIC MF Liquid Fund - Regular Plan-Growth
LIC MF Liquid Fund is an open-ended debt scheme seeking to generate reasonable returns with low risk and high liquidity through a careful mix of investment in the money market and quality debt instruments.
- Fund Performance: The fund's annualized returns over the past three and five years have been around 6.46% and 5.36%, respectively. In three years, the current value of a Standard Investment of ₹10,000 will become around ₹12,068.
- Minimum Investment Amount: The minimum lump sum for the LIC MF Liquid Fund is ₹100; for Min Add Lumpsum, it is ₹500; for SIP, it is ₹100 (Daily), ₹200 (Monthly), and ₹1000 (Quarterly). The minimum redemption amount is ₹500.
10. LIC MF Balanced Advantage Fund - Regular Plan-Growth
LIC MF Balanced Advantage Fund is an open-ended dynamic asset allocation fund investing in a dynamically managed portfolio of equity and equity-related instruments and debt and money market instruments to seek capital appreciation over a long period.
- Fund Performance: The fund's annualized returns over the past three years and since inception have been around 9.38% and 8.65%, respectively. In three years, the current value of a Standard Investment of ₹10,000 will become around ₹13,088.
- Minimum Investment Amount: The minimum lump sum for the LIC MF Balanced Advantage Fund is ₹5000; for Min Add Lumpsum, it is ₹500; for SIP, it is ₹100 (Daily), ₹200 (Monthly), and ₹1000 (Quarterly). The minimum redemption amount is ₹500.
Top Fund Managers
Below is the list of people who have made LIC Mutual Fund Investment a standout choice in a highly competitive market.
1. Mr. Nikhil Rungta
Mr. Nikhil Rungta is the co-chief equity investment officer at LIC Mutual Fund. He joined the fund in June 2024 and has over 16 years of experience in capital markets across sectors and sizes. He has worked with Bajaj Allianz Life, Nippon India Mutual Fund, ICRA, and others.
2. Mr. Sumit Bhatnagar
Mr. Sumit Bhatnagar is an equity fund manager at LIC Mutual Fund. He joined LIC Mutual Fund AMC in September 2023. Before joining LIC MF, he worked with Indiabulls AMC, SEBI, IDBI Bank, and Cosmos Bank.
3. Mr. Marzban Irani
Mr. Marzban Irani has around 2 decades of experience as a Fund Manager at several Tier-I financial institutions nationwide. Currently, he oversees the debt portfolio and investment options, such as the LIC MF Bond Fund, as the fund manager of LIC MF.
4. Mr. Pratik Harish Shroff
Mr. Pratik Harish Shroff is the fixed-income fund manager at LIC Mutual Fund. He joined the company in September 2023. With around two decades of experience, he has worked with Tata AMC, Industrial and Commercial Bank of China, IndusInd Bank, and others.
5. Mr. Karan Doshi
Mr. Karan Doshi is a senior equity research analyst and fund manager at LIC Mutual Fund. He joined the LIC MF in 2019. Before that, he worked as an equity research analyst at Subhkam Ventures (I) Pvt. Ltd.
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