LIC Mutual Fund was started on June 19, 1989. It is promoted by Life Insurance Corporation of India which is the biggest life insurer in India. LIC Mutual Fund's investment manager is LIC Mutual Fund Asset Management Company Ltd. which was set up on April 20th, 1994.
An overview of LIC Mutual Fund:
LIC Mutual Fund was established by Life Insurance Corporation of India on June 19th, 1989 which made a contribution of around Rs. 2 crores towards the principal of the fund. LIC Mutual Fund was set up as a Trust according to the rules of the Indian Trust Act, 1882. The investment manager of LIC Mutual Fund is LIC Mutual Fund Asset Management Company Ltd.
which was established on April 20th, 1994 according to the provisions of the Securities and Exchange Board of India (Mutual Funds) Regulations, 1993. LIC Mutual Fund had assets worth around Rs. 10,703 crores under its management as per estimates of August, 2006.
Awards received by LIC Mutual Fund:
LIC Mutual Fund has received the ICRA Mutual Fund Gold Award for the performance of its LICMF Liquid Fund till December 31, 2005. LIC Mutual Fund has also received the ICRA Mutual Fund Gold Award for the performance of its LICMF Floating Rate Fund - STP till December 31, 2005.
Main schemes launched by LIC Mutual Fund:
- LICMF Fixed Maturity Plan: Series - III
- LICMF Monthly Income Plan
- LICMF Government Securities Fund
- LICMF Floater MIP - Plan B
- LICMF Children's Fund
- LICMF Fixed Maturity Plan: Series - II
- LICMF Index Fund Sensex Plan
- LICMF Index Fund Nifty Plan
- Dhan Tax Saver 1996
- LIC MF Opportunities Fund
- LIC MF Unit Linked Insurance Scheme
- LICMF Index Fund Sensex Advantage Plan
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