LIC Mutual Fund is looking to take the share of retail assets in its overall assets under management to 50 per cent in the next three years, a top official has said.
₹25,000-cr AUM
Currently, retail accounts for just 35 per cent, with the lion’s share of 65 per cent of the AUM accounted for by institutional investors. This fund house has total AUM of about ₹ 25,000 crore as on date.
“Our aim is very much to grow our retail focus. We have already created the foundation and now we will be building on this,” Rajesh Patwardhan, Chief Marketing Officer, LIC Mutual Fund, told BusinessLine.
In retail, the prime aspect will be the performance of equity funds, and the fund house has started focusing on it
“While our equity-related funds have grown, it has grown relatively lower than our debt funds. For any fund house to come to the big league, you have to first grow your debt funds,” he said.
Of the existing AUM of about ₹25,000 crore, the equity book is ₹2,200 crore, with the rest being debt-oriented funds.
