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LIC Nomura MF average assets rise 47.32% in March quarter

LIC Nomura Mutual Fund Average Assets Under Management witnessed a significant rise for January-March 2014 quarter to Rs. 105.84 billion

April 03, 2014 5:08 IST | India Infoline News Service
LIC Nomura Mutual Fund Average Assets Under Management (AAUM) stood at Rs. 71.84 billion for the quarter of January-March 2013 which has witnessed a significant rise for quarter January-March 2014 to Rs. 105.84 billion. This has led to a growth in the asset base of 47.32% vis-a-vis the industry growth of 10.73%.
In February, LIC Nomura launched ‘Rajiv Gandhi Equity Savings Scheme Fund- Series II’ (RGESS), a close ended equity oriented scheme investing in BSE 100 AND CNX 100 stocks. It also provides tax benefits under Section 80CCG for the investors and is aimed to inculcate retail participation in the domestic market.
LIC Mutual Fund was set up by the Life Insurance Corporation of India on 20th April 1989 to engage in the business of Mutual Fund.

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