LIC Mutual Fund announced plans to launch a Special Investment Fund (SIF) by October this year. The asset management company (AMC) has applied to the Securities and Exchange Board of India (SEBI) seeking approval for the new investment product aimed specifically at high-net-worth individuals (HNIs).
The move comes as LIC Mutual Fund has recorded significant growth, with its assets under management (AUM) exceeding ₹50,000 crore. This marks a 208% increase in AUM over the past three years, highlighting the firm's expanding presence in the mutual fund market.
According to the information, the proposed SIF will target a corpus of ₹500 crore. This fund aims to attract HNI investors seeking diversified investment opportunities. LIC Mutual Fund's initiative reflects its strategy to broaden its product portfolio and cater to varied investor segments amid robust growth trends.
