LIC Mutual Fund - Top 10 LIC MF, Category & Risk

Thinking about boosting your savings with LIC mutual funds? You're not alone! These trusted investments have been helping Indians achieve their financial goals for decades. But if you're new to the world of mutual funds, don't worry! We will explore different types of LIC mutual funds, and answer your burning questions. So, grab a cup of tea, sit back, and let's unlock the potential of LIC mutual fund investments together!

This blog caters to everything related to LIC Mutual fund and every detail for its features, general information, and many more. So why wait, hop into the blog and learn more about LIC Mutual fund. 

About LIC Mutual fund 

LIC Mutual Fund, an association of Life Insurance Corporation of India, is a well-known player in the field of asset universe. LIC Mutual fund was established on 20th April 1989, it has constantly maintained an above-average CRISIL rating and an impressive investor base for the last 30 years. 

LIC Mutual Fund has created a wide variety of investing options across equity, debt, hybrid, ETF, index, and other investment-orientated categories for investors. 

The AMC of LIC has recorded a Compound Annual Growth Rate (CAGR) of 14.56% over the past three financial years, positioning it as an apt choice among investors, especially for massive and mid-cap mutual fund investments. 

Additionally, LIC MF Tax Plans provide tax benefits as they may be based on Equity-Linked Savings Schemes (ELSS). If you wish to invest in SIP or want to make a lumpsum investment in the mutual fund presented  then you can access these investments through LIC Mutual Fund incorporation with ZFunds. 

Types of LIC Mutual Fund Schemes:Top LIC Mutual Funds

Brief about LIC Mutual fund:

1) LIC MF Large & Mid Cap Fund

LIC MF Large & Mid Cap Fund is a large and mid-cap fund which came into existence on 25th of February 2015. Currently, it is managed by Mr.Yogesh Patil. LIC MF Large & Mid Cap Fund has an AUM of 2,360 crores, its latest NAV is 38.5898 which is of date 13/12/23.
LIC MF Large & Mid cap fund has generated a return of 14.7% of returns since its inception. LIC MF Large & Mid cap has provided a return of 20.7% in the last 1 year. This fund is the best fund for those who are looking to invest in Large and Mid-cap funds. 

2.) LIC MF Nifty 50 Index Fund 

LIC MF Nifty 50 Index Fund, is an index fund which came into existence on 1st January 2013, Currently, it is managed by Jaiprakash Toshniwal. LIC MF Nifty 50 Index Fund  has an AUM of ₹257 Crores, its latest NAV is 122.7239 as of 13/12/23.

LIC MF Nifty 50 Index Fund  scheme has generated a return of 12.8% since its inception. This fund has delivered a return of 13.8% in the past 1 year. This fund can be the best  option, for those who are looking for index funds. 

3.) LIC MF Banking & Fina Serv Fund

LIC MF Banking & Fina Serv Fund is a Sectoral / Thematic scheme that came into existence on 27th March 2015 and is currently managed by an experienced fund manager Jaiprakash Toshniwal. LIC MF Banking & Fina Serv Fund has an AUM of ₹291 Crores, its latest NAV is 20.6863 as of 13/12/23.

LIC MF Banking & Fina Serv Fund - Dir Growth scheme has delivered an 8.4% since its inception. Also, its one-year performance has been 16.8% in the last 1 year, and 17% in the last 3 years. Those who want to invest in a particular sector would find this fund the beneficial one. 

4.) LIC MF Flexi Cap Fund 

LIC MF Flexi Cap Fund came into existence on 1st January 2013 and is currently under the guidance of Amit Nadekar. This fund has an AUM of 2889 Crores, with the latest NAV of ₹89.2272 as of 13/12/23.

LIC MF Flexi Cap Fund  scheme has delivered a return performance of 13.3% since its inception. Also in the last 1 year, the fund has delivered a 20.1% return. This fund is the best fund to invest, for those who are looking to invest in the flexi cap fund category

5.) LIC MF Aggressive Hybrid Fund 

LIC MF Aggressive Hybrid Fund  was launched on 3rd March 2013, it is an Aggressive Hybrid fund which is managed by Karan Desai. LIC MF Aggressive Hybrid Fund has an AUM of ₹574 Crores, its NAV is 2177.7931 which is of 13th December 2023. 

LIC MF Aggressive Hybrid Fund  scheme has provided an annual return of 10.7% since its inception and in the last year, it has delivered a return of 11.8%. Investors who are eagerly waiting for An aggressive hybrid fund will find this is the best fund to invest in mutual funds. 

6.) LIC MF ELSS Tax Saver 

LIC MF ELSS Tax Saver  is an ELSS scheme has come into existence on 1st January 2013, and is currently under the most experienced fund manager Amit Nadekar. This fund has an AUM of ₹975 Crores, with an NAV of ₹136.5065 as of 13/12/23.

LIC MF ELSS Tax Saver  scheme has had an annual  return of 15.9% since its launch, also its past year was 20.4%. This fund is the best fund for those who wish to invest in the Best ELSS fund, and also want to save their tax and invest as well. 

7.) LIC MF S&P BSE Sensex Index Fund

LIC MF S&P BSE Sensex Index Fund was launched on 1st January 2013. An index fund which is currently looked at by an experienced fund manager Jaiprakash Toshniwal. This fund has an AUM of 276 Crores, its NAV is ₹137.8471 as of 13/12/23.

LIC MF S&P BSE Sensex Index Fund scheme has provided an annual return of 12.8% since its inception, with a one-year return of 13.1%. This scheme is beneficial for those who are looking to invest in the best Index Funds. 

8.) LIC MF Gilt Fund  

LIC MF Gilt Fund has been launched on 1st January 2013. This fund is managed by an experienced fund manager Marzban Irani. This fund has an AUM of ₹46 Crores, whose NAV is ₹57.4573 as of 13/12/23.

LIC MF Gilt Fund scheme has delivered an annual return of 7.4% and in the last 1 year, it has provided a return of 3.8%. This fund is considered the best mutual fund to invest, in for those who want to invest in the Gilt fund. 

9.) LIC MF Short Duration Fund 

LIC MF Short Duration Fund  is a Short Duration mutual fund scheme which was launched on 1st February 2019 and is currently managed by an experienced fund manager Marzban Irani. This fund has an AUM of 123 Crores, whose latest NAV is 13.6062 as of 13/12/23.

LIC MF Short Duration Fund scheme has delivered an annual return of 6.4% since its inception and a 6.7% return in the last year. This fund can be considered the best fund for those who want to invest for a short duration. 

LIC Mutual Fund Key Information: 

LIC Mutual Fund Managers

Fund managers are the most critical part of the funds. They are the one who takes care of all the finance from beginning till end. Here we have provided a small list of fund managers who look after the LIC Mutual Fund. 

1.) Mr. Yogesh Patil

• Mr. Yogesh Patil started in 2018 as a fund manager at LIC Mutual Fund. He is currently the Head of Equities, with more than 16 years of experience in the Indian Equity Markets (both buy and sell-side). Before LIC, he was working with Canara Robeco Asset Management Company and Sahara Mutual Fund. When he was working with Canara AMC, the Canara Robeco Infrastructure Fund has ranked No. 1 by CRISIL for four consecutive quarters.

2.) Ms Ritu Modi

• Ms Ritu Modi started working with LIC in 2018 as an Equity Research Analyst. She is the Fund Manager at LIC AMC. Ms.Modi holds an MBA in Finance from the University of Mumbai and a B.Com from Mulund College of Commerce. Before joining LIC mutual fund she was working with Ambit Capital. She takes care of both active and passive mutual funds. Ms Modi has more than ten years of expertise in the field of equity research.

3.) Mr Karan Doshi

• Mr Karan Doshi started with LIC AMC in 2019. He works as the Equity Research Analyst at the fund house. He has an expertise of  seven years in this particular industry. His expertise lies in the Pharmaceuticals, Information Technology, and Specialty Chemicals sectors. Before LIC, he was with Subhkam Ventures (I) Private Limited. Furthermore, Mr Doshi is an MBA Finance graduate from the Guru Nanak Institute of Management Studies. Also, he has a degree of Bachelor of Engineering in Electronics and Telecommunication from K.J. Somaiya College of Engineering and Information Technology.

4.) Mr Marzban Irani

• Mr Marzbani Irani is the Chief Investment Officer of Debt at LIC Mutual Fund. He started working with LIC in 2016 and has more than 21 years of debt market experience. Before LIC, he was with DSP Investment Managers, TATA AMC, PNB MetLife India Insurance, and Mirae Asset Global Investments (India). Furthermore, Mr Irani holds a B.Com (H) degree from Mumbai University. He also holds a PGDBM from Chetna’s Institute of Management & Research, Mumbai.

5.) Mr. Rahul Singh 

Mr. Rahul Singh is a Chief Investment Officer of Equities at Tata Asset Management and Managing Partner at Ampersand Capital. Before joining LIC Mutual Fund he worked with Standard Chartered Securities and Citigroup Global Markets India as a business development lead and asset manager.Mr. Singh looks after the LIC Mutual Funds Liquid Fund scheme. He handles funds of Rs. 8801.21 Crore including G-Sec Long Term ETF and Series 1,2, and 3 CPOF. 

Documents Required To Invest In LIC Mutual Fund

For any investment, you always need to have some important documents which help the management to get your investments done. To get your investment processed, you need to have some essential documents which are mentioned below: 

Also if you are a first-time investor, then you need to submit the following documents:

1. PAN Card Details
2. Personal Details
3. Address Proof
4. Bank Account Details
5. Nominee & FATCA Declarations

However, if you are an existing investor, then you need to furnish only a few personal & bank account details & you can start investing instantly.

How to Invest in LIC Mutual Funds? 

Investing in any horizon is easy but, we at Zfunds have made it simple and easy to invest. To know how to invest in LIC mutual funds follow the steps given below: 

1. Initially, you need to choose a mutual fund category or a mutual fund scheme which goes with your investment goals or matches your objective of investing.
2. Log into Zfunds, to set up your LIC Mutual fund account.
3. Get your details verified, which are PAN number, Name, DOB, and E-mail id. If you have not done your KYC process, then you need to upload your whole documents and get it done.
4. Enter your bank details.
5. Upload a scanned picture of your signature, and some other important details.
6. Complete declaration and nominee selection details.
7. Then choose your investment type, whether you want to invest in SIP or a lumpsum investment. After this, you can click on Invest Now.
8. Select your payment method, and initiate your payment.
9. Once you have completed the payment, you will be able to see your investment within 2 or 3 days.

Zfunds offers the best investment option surroundings, and the financial institution account statistics accrued will only be used for making an investment and crediting the redemption proceeds.

KYC Required to Invest in LIC Mutual Fund

Know Your Customer (KYC) is a way to figure out a client. SEBI has mandated KYC necessities. Investors should be KYC compliant to be able to invest in SEBI-registered mutual funds. 

Identity facts, residence, economic fame, occupation, and demographic information will all be included on a KYC form. Zfunds can help you with your KYC.  If you wish to invest in any fund Zfunds can help you to perform your KYC and let you invest in any fund.