Six months of continued inflows into equity funds and a change in the investment strategy at Life Insurance Corp. of India (LIC) has led to the country’s 44-firms strong mutual fund industry overtaking the state-run insurer as a bigger owner of local stocks for the first time.
At the end of September, the value of mutual fund equity portfolio in listed firms stood Rs.4.94 lakh crore compared to Rs.4.75 lakh crore held by LIC, data collated by Prime Database shows.
