LIC Mutual Fund, one of the oldest in the industry, targets to hit ₹1 lakh crore AUM in next two fiscals from the current level of ₹32,000 crore, given the buoyancy in the equity market and planned deeper penetration into smaller towns.
The fund house, which acquired IDBI Mutual Fund last year, has registered 78 per cent growth in AUM to ₹32,000 crore so far this fiscal against ₹17,978 crore in December quarter last year and is confident of closing this fiscal with an AUM of ₹35,000 crore.
