The mutual fund arm of the country's largest life insurance company, LIC, plans to tap its parent's large base of around 11 lakh agents to shore up its assets under management.
LIC Mutual Fund is looking to build a base of 7,500 key business partners (active LIC insurance agents) over three years from around 1,200 now.
"The number of LIC agents interested in selling mutual funds is increasingly going up. LIC already has a huge base of agents and we are looking at only a small part of it," said Rajesh Patwardhan, chief marketing officer, LIC Mutual Fund.
