LIC Mutual Fund

LIC Mutual Fund was set up by the Life Insurance Corporation of India (LIC), a government-run insurance provider, on 20 April, 1989. Being in the asset management sphere for more than 2 decades, LIC Mutual Fund has managed to carve a name for itself by coupling systematic investment discipline, corporate governance, and a high degree of financial ethics. With its robust and innovative investment strategies, LIC Mutual Fund intends to generate value for its investors, across all segments. LIC Mutual Fund is managed by LIC Mutual Fund Asset Management Ltd. whose shareholders are LIC of India, LIC Housing Finance Ltd., GIC Housing Finance Ltd., and Corporation Bank. As of 31 March 2018, LIC Mutual Fund manages assets worth Rs.19,874.35 crore.

Types of Mutual Funds offered by LIC Mutual Fund

LIC Mutual Fund offers schemes in 5 categories - Equity, Debt, Hybrid, Solution Oriented, and ETFs & Index Funds. In total, it offers 28 schemes in the open-ended, close-ended, and interval subcategories.

Equity schemes by LIC Mutual Fund

Equity schemes invest in stocks or shares of companies and they are also known as growth funds or stock funds. In this category, LIC Mutual Fund offers 8 schemes (6 open-ended and 2 close-ended). We have explained all of these schemes below:

  1. LIC MF Banking and Financial Services Fund - This is an open-ended equity scheme that concentrates its investments in equities of companies in the banking and financial services sector.
    • Investment objective - To create capital growth for the investor by investing a significant part of its investment in equity and its related instruments of firms engaged in banking and financial services.
    • Ideal for - Investors who seek capital gains over a longer duration and who wish to invest in equity and its related securities of firms engaged in financial services and banking.

    Scheme features:

    Benchmark Index Nifty Financial Services Index
    Monthly Average Expense Ratio As on 1 May 2018, TER: Direct Plan - 1.44%, Regular Plan - 3.22%
    Investment Options Growth and Dividend
    Minimum Investment Rs.5,000
    Entry Load Not Applicable
    Exit Load 1% exit load will apply for redemption or withdrawal before 1 year from unit allotment date. No exit load for withdrawal after 1 year
    Riskometer High
    Fund Manager Mr. Saravana Kumar
  2. LIC MF Multicap Fund - This is an open-ended equity scheme that invests in equities of large, mid, and small cap companies to achieve growth of capital.
    • Investment objective - To offer capital appreciation to the investor by focusing its investments on equity and its associated instruments.
    • Ideal for - Investors who prefer to invest in stocks of large, mid and small cap companies and who wish to achieve capital growth over a long term. The scheme is also suitable for investors who seek current income.

    Scheme features:

    Benchmark Index Nifty 500 Index
    Monthly Average Expense Ratio As on 1 May 2018, TER: Direct Plan - 1.95%, Regular Plan - 3.12%
    Investment Options Growth and Dividend. The dividend option offers payout and reinvestment facilities
    Minimum Investment Rs.5,000
    Entry Load Not Applicable
    Exit Load 1% exit load will apply if investor exits the scheme before 1 year from unit allotment date. No exit load for exit after 1 year
    Riskometer Moderately High
    Fund Manager Mr. Saravana Kumar
  3. LIC MF Large Cap Fund - This is an open-ended equity scheme that mainly invests in equities of large cap companies and was previously known as Dhanasamriddhi.
    • Investment objective - To generate capital appreciation for the investor by concentrating the investments on equity and its associated instruments including derivatives, of large cap companies.
    • Ideal for - Investors who seek capital growth over a long term and who wish to invest in equities of large cap firms.

    Scheme features:

    Benchmark Index Nifty 100 Index
    Monthly Average Expense Ratio As on 1 May 2018, TER: Direct Plan - 1.86%, Regular Plan - 3.13%
    Investment Options Growth and Dividend (Reinvestment and Payout)
    Minimum Investment Rs.5,000
    Entry Load Not Applicable
    Exit Load 1% exit load will apply if investor exits the scheme before 1 year from unit allotment date. No exit load for exit after 1 year
    Riskometer Moderately High
    Fund Manager Mr. Sachin Relekar
  4. LIC MF Infrastructure Fund - This is an open-ended equity scheme that invests in infrastructure and its allied sectors. This scheme was initially launched as a close-ended scheme in 2008 but later was opened for subscription with effect from 24 March 2011.
    • Investment objective - To produce capital appreciation for the investor by investing in equities of firms engaged in the infrastructure sector.
    • Ideal for - Investors who wish to grow their capital over a long term and have a high appetite for risk to invest in equities of infrastructure and its allied sectors.

    Scheme features:

    Benchmark Index Nifty Infrastructure Index
    Monthly Average Expense Ratio As on 1 May 2018, TER: Direct Plan - 1.47%, Regular Plan - 3.25%
    Investment Options Growth and Dividend (Reinvestment and Payout)
    Minimum Investment Rs.5,000
    Entry Load Not Applicable
    Exit Load 1% exit load will apply if investor exits the scheme before 1 year from unit allotment date. No exit load for exit after 1 year
    Riskometer High
    Fund Manager Mr. Sachin Relekar
  5. LIC MF Large & Mid Cap Fund - This is an open-ended scheme that invests in equities of both large and mid cap firms.
    • Investment objective - To create capital appreciation for the investor by investing in large and mid cap stocks.
    • Ideal for - Investors who wish to achieve capital gains and prefer investing in stocks of large and mid cap firms.

    Scheme features:

    Benchmark Index Nifty LargeMidcap 250 Index
    Monthly Average Expense Ratio As on 1 May 2018, TER: Direct Plan - 0.58%, Regular Plan - 2.89%
    Investment Options Growth and Dividend (Reinvestment and Payout)
    Minimum Investment Rs.5,000
    Entry Load Nil
    Exit Load 1% exit load will apply if investor exits the scheme before 1 year from unit allotment date. No exit load for exit after 1 year
    Riskometer Moderately High
    Fund Manager Mr. Sachin Relekar
  6. LIC MF Tax Plan - This is an open-ended equity linked savings scheme that has a statutory lock-in period of 3 years and offers tax benefits to the investor. This scheme was previously known as the Dhan Tax Saver 1997 and the tax benefits offered are available under Section 80C of the Income Tax Act, 1961. The features of this scheme has been explained in the section ‘Tax Saving Plans by LIC Mutual Fund’.
    • LIC MF Diversified Equity Fund Series 1 and Series 2 - These schemes are close-ended equity schemes whose tenures will last for 1100 days from the unit allotment date.
    • Investment objective - To produce capital gains by investing primarily on equities of companies that constitute the S&P BSE 200 Index.
    • Ideal for - Investors who wish to achieve capital appreciation over a long term and have a high appetite for risk to invest in equity and its related securities that constitute the BSE 200 Index.

    Scheme features:

    Benchmark Index S&P BSE Sensex
    Monthly Average Expense Ratio -
    Investment Options Growth and Dividend
    Minimum Investment Rs.5,000
    Entry Load Nil
    Exit Load Nil
    Riskometer High
    Fund Manager Mr. Ramnath Venkateswaran
  7. LIC MF Rajiv Gandhi Equity Savings Scheme Series 2 and Series 3 - These 2 schemes (Series 2 and Series 3) are close-ended equity schemes whose duration is 3 years from the unit allotment date. The schemes invest in equity securities that are considered as eligible for Rajiv Gandhi Equity Savings Scheme (RGESS).
    • Investment objective - To produce capital gains for the investor by investing in equities eligible for RGESS and sometimes may also invest in cash and money market instruments.
    • Ideal for - Investors who seek capital appreciation over long term and have a high appetite for risk.

    Scheme features:

    Benchmark Index S&P BSE 100 Index
    Monthly Average Expense Ratio -
    Investment Options Growth and Dividend
    Minimum Investment Rs.5,000
    Entry Load Nil
    Exit Load Nil
    Riskometer High
    Fund Manager Mr. Ramnath Venkateswaran

Debt Funds from LIC Mutual Fund

Debt funds invest in a variety of instruments like corporate bonds, treasury bills, government securities, etc., to generate regular income for the investor. In this category, LIC Mutual Fund offers 8 schemes (5 open-ended and 3 interval), all of which have been described below:

  1. LIC MF Bond Fund - This is an open-ended medium term debt scheme that invests in debt and money market instruments.
    • Investment objective - To generate attractive capital gains for the investor by investing in a portfolio whose Macaulay Duration is between 4 years and 7 years.
    • Ideal for - Investors who wish to generate income over medium to long term through investment in debt and money market securities.

    Scheme features:

    Benchmark Index CRISIL Composite Bond Fund Index
    Monthly Average Expense Ratio -
    Investment Options Growth and Dividend (Payout and Reinvestment)
    Minimum Investment Rs.5,000
    Entry Load Nil
    Exit Load 1% exit load will apply if investor exits the scheme before 1 year from unit allotment date. No exit load for exit after 1 year
    Riskometer Moderate
    Fund Manager Mr. Marzban Irani
  2. LIC MF Banking & PSU Debt Fund - This is an open-ended debt scheme that invests in debt securities of banks, Public Sector Undertakings (PSUs), Public Financial Institutions (PFIs), and municipal bonds.
    • Investment objective - To give investors an opportunity to grow their capital by investing in high quality debt and money market instruments issued by financial institutions, banks, PSUs, and municipal bonds.
    • Ideal for - Investors who wish to generate regular income as well as grow their capital over medium term and who wish to invest in safe securities such as debt and money market instruments.

    Scheme features:

    Benchmark Index CRISIL Short Term Bond Fund Index
    Monthly Average Expense Ratio -
    Investment Options Growth and Dividend (Payout and Reinvestment)
    Minimum Investment Rs.5,000
    Entry Load Nil
    Exit Load Nil
    Riskometer Moderate
    Fund Manager Mr. Marzban Irani
  3. LIC MF G-Sec Fund - This is an open-ended debt scheme that invests in government securities across maturity. The scheme concentrates its investments in securities that are issued by the central/state government and also in securities guaranteed by the central/state government.
    • Investment objective - To create risk-free credit and optimal returns for the investor by investing in sovereign securities issued by state/central government.
    • Ideal for - Investors who wish to grow their investment over a long term and who wish to invest in securities issued by the central and state government.

    Scheme features:

    Benchmark Index I-Sec Composite Index
    Monthly Average Expense Ratio -
    Investment Options Growth, Dividend, and PF
    Minimum Investment Rs.10,000
    Entry Load Nil
    Exit Load 0.25% exit load will apply if the investor exits before 30 days from unit allotment date
    Riskometer Moderate
    Fund Manager Mr. Marzban Irani
  4. LIC MF Savings Fund - This is an open-ended low duration debt scheme that invests in securities whose Macaulay Duration of the portfolio is between 6 months and 12 months.
    • Investment objective - To generate income for the investor by focusing its investments on superior quality debt instruments.
    • Ideal for - Investors who are looking for a regular income while also achieving capital appreciation.

    Scheme features:

    Benchmark Index CRISIL Low Duration Debt Index
    Monthly Average Expense Ratio -
    Investment Options Growth and Dividend (Payout and Reinvestment)
    Minimum Investment Rs.5,000
    Entry Load Nil
    Exit Load Nil
    Riskometer Moderate
    Fund Manager Mr. Rahul Singh
  5. LIC MF Liquid Fund - This is an open-ended liquid scheme that judiciously invests in superior quality debt securities and money market instruments to produce favourable returns on the capital invested.
    • Investment objective - To generate returns that are reasonable, low risk, and offer high liquidity by investing in quality debt instruments and money market securities.
    • Ideal for - Investors who wish to have a regular income and prefer investing in low risk securities such as debt or money market instruments with maturity of up to 91 days.

    Scheme features:

    Benchmark Index CRISIL Liquid Fund Index
    Monthly Average Expense Ratio -
    Investment Options Growth and Dividend (Payout and Reinvestment)
    Minimum Investment Rs.5,000
    Entry Load Nil
    Exit Load Nil
    Riskometer Low
    Fund Manager Mr. Rahul Singh
  6. LIC MF Interval Fund Quarterly Plan Series 1 and Series 2 - There are 2 schemes in this category and they are both debt-oriented interval schemes that focuses its investments on debt securities and money market instruments.
    • Investment objective - To give investors an opportunity to grow their capital and provide them income by investing in money market and debt instruments.
    • Ideal for - Investors who wish to receive regular income and who have a low appetite for risk.

    Scheme features:

    Benchmark Index CRISIL Liquid Fund Index
    Monthly Average Expense Ratio -
    Investment Options Growth and Dividend (Payout and Reinvestment
    Minimum Investment Rs.10,000
    Entry Load Nil
    Exit Load Nil
    Riskometer Moderately Low
    Fund Manager Mr. Marzban Irani
  7. LIC MF Interval Fund Annual Plan - This is a debt-oriented interval scheme that invests in money market instruments and debt securities.
    • Investment objective - To produce income and grow the capital for the investor by investing in debt and money market securities.
    • Ideal for - Investors who wish to have a regular income from their investments over a short term and who prefer to invest in low risk instruments such as debt instruments, money market instruments, etc.

    Scheme features:

    Benchmark Index CRISIL Liquid Fund Index
    Monthly Average Expense Ratio -
    Investment Options Growth and Dividend (Payout and Reinvestment)
    Minimum Investment Rs.10,000
    Entry Load Nil
    Exit Load Nil
    Riskometer Moderately Low
    Fund Manager Mr. Marzban Irani
  8. LIC MF Interval Fund Monthly Plan - This is a debt-oriented interval scheme that invests in money market instruments and debt securities to fetch favourable returns for the investor.
    • Investment objective - To create capital growth and income for the investor by allocating a major part of its investments to low risk securities such as money market instruments and debt securities.
    • Ideal for - Investors who wish to receive regular income over a short term and have a low appetite for risk.

    Scheme features:

    Benchmark Index CRISIL Liquid Fund Index
    Monthly Average Expense Ratio -
    Investment Options Growth and Dividend (Payout and Reinvestment)
    Minimum Investment Rs.10,000
    Entry Load Nil
    Exit Load Nil
    Riskometer Moderately Low
    Fund Manager Mr. Marzban Irani

Hybrid Funds from LIC Mutual Fund

Mutual funds that invest in a mix of equity, debt, and fixed income instruments are termed as hybrid funds. LIC Mutual Fund Offers 5 schemes (3 open-ended and 2 close-ended) in this category all of which have been described below:

  1. LIC MF Equity Hybrid Fund - This is an open-ended hybrid scheme that was previously known as Dhanasahayog and the scheme invests mainly in equity and its associated securities. A small portion is also invested in debt and money market instruments.
    • Investment objective - To offer regular returns and capital gains to the investor by investing in a mix of debt and equity instruments.
    • Ideal for - Investors who seek capital appreciation and regular income over a long term.

    Scheme features:

    Benchmark Index CRISIL Hybrid 35+65 - Aggressive Index
    Monthly Average Expense Ratio -
    Investment Options Growth and Dividend (Payout and Reinvestment)
    Minimum Investment Rs.5,000
    Entry Load Nil
    Exit Load If the investor exits before 1 year from unit allotment date, for 10% of the investment there will be no exit load. For the remaining investment, a 1% load will be charged. No exit load is applicable on exit after 1 year
    Riskometer Moderately High
    Fund Manager Mr. Saravana Kumar (equity portfolio) and Mr. Marzban Irani (debt portfolio)
  2. LIC MF Debt Hybrid Fund - This is an open-ended hybrid scheme that was formerly known as Dhanavarsha 12 and focuses its investments on debt securities. Some portion of the investment is also allocated to equity instruments.
    • Investment objective - To produce regular income for the investor by investing primarily in superior quality debt and money market securities. The scheme also allocates a percentage of its investments on equity instruments.
    • Ideal for - Investors who wish to achieve capital gains and receive current income over a long term and who prefer investing in securities that have marginal exposure to equity, such as debt securities.

    Scheme features:

    Benchmark Index CRISIL MIP Blended Index
    Monthly Average Expense Ratio -
    Investment Options Dividend
    Minimum Investment Rs.5,000
    Entry Load Nil
    Exit Load 1% exit load is applicable if the investor exits before 1 year from unit allotment date. No exit load is applicable for exit after 1 year
    Riskometer Moderate
    Fund Manager Mr. Marzban Irani (debt portfolio) and Mr. Saravana Kumar (equity portfolio)
  3. LIC MF Unit Linked Insurance Scheme - This scheme was previously known as Dhanraksha-89 and is an open-ended insurance-linked tax savings scheme that offers tax benefits to the investor under Section 80C of the Income Tax Act, 1961. The scheme invests in a diversified portfolio consisting of equity and fixed income securities. The features of the scheme has been explained in the ‘Tax Saving Mutual Funds from LIC Mutual Fund’ section.
    • LIC MF Dual Advantage Fund (Series 1, 2, and 3) - There are 3 schemes in this category (Series 1, 2 and 3) and all are close-ended income schemes. New Fund Offer (NFO) for Series 1 was open for subscription from 22 June 2015 to 6 July 2015 while Series 2 was open for subscription from 10 September 2015 to 24 September 2015. Series 3 was open for subscription from 28 October 2015 to 10 November 2015.
    • Investment objective - To produce capital returns and growth for the investor by investing in a mixed portfolio of equity, debt, and money market instruments.
    • Ideal for - Investors who seek capital growth with regular income over medium to long term.

    Scheme features:

    Benchmark Index CRISIL MIP Blended Index
    Monthly Average Expense Ratio -
    Investment Options Growth and Dividend (Reinvestment and Payout
    Minimum Investment Rs.5,000
    Entry Load Nil
    Exit Load Nil
    Riskometer Moderately High
    Fund Manager Mr. Marzban Irani (debt portfolio) and Mr. Sachin Relekar (equity portfolio)
  4. LIC MF Capital Protection Oriented Fund (Series 1,2,3, and 4) - There are 4 schemes in this category - Series 1, 2, 3, and 4. All these schemes are close-ended capital protection-oriented schemes and predominantly invest in debt and money market securities but also invest a small portion (around 15%) in options premium, equity, and its associated securities.
    • Investment objective - To accomplish capital protection for the customer through investment in fixed income instruments that matures on or before the term of the scheme. Also, by investing in equity and its related securities, the scheme seeks capital growth for the investor.
    • Ideal for - Investors who wish to achieve capital growth and wish to generate income over a medium or long term.

    Scheme features:

    Benchmark Index CRISIL MIP Blended Index
    Monthly Average Expense Ratio -
    Investment Options Growth and Dividend
    Minimum Investment Rs.5,000
    Entry Load Nil
    Exit Load Nil
    Riskometer Moderately High
    Fund Manager Mr. Marzban Irani (debt portfolio) and Mr. Sachin Relekar (equity portfolio)

Solution Oriented Funds

  1. LIC MF Children’s Gift Fund - This is an open-ended scheme meant for investment for children and has a lock-in period of 5 years or till the child attains 18 years of age.
    • Investment objective - To produce capital gains and long-term growth opportunity for the investor through investment in a mix of equity, debt, fixed income, and equity-related securities.
    • Ideal for - Investors who wish to achieve capital appreciation to meet the future financial needs of their children by investing in a mix of stocks and fixed income instruments.

    Scheme features:

    Benchmark Index CRISIL Hybrid 35 + 65 - Aggressive Index
    Monthly Average Expense Ratio As on 1 May 2018, TER: Direct Plan - 1.71%, Regular Plan - 3.04%
    Investment Options Growth-oriented
    Minimum Investment Rs.5,000
    Entry Load Nil
    Exit Load Nil
    Riskometer Moderately High
    Fund Manager Mr. Saravana Kumar (equity portfolio) and Mr. Marzban Irani (debt portfolio)

ETF and Index Funds

Mutual funds that are listed and traded on stock exchanges just like shares, are known as Exchange-Traded Funds (ETF). Units of an ETF can be purchased and sold at current market prices during market hours on a real time basis. ETFs offer the benefits of flexibility, protecting investors against inflows and outflows over long and short term, and have the ability to put limit orders.

Index funds on the other hand, invest in an index and mimic its performance. These kinds of funds are subject to tracking errors which is the deviation of the returns by the fund from the benchmark it tracks.

In the ETF and Index Funds category, LIC Mutual Fund offers 5 schemes:

  1. LIC MF Exchange Traded Fund - Nifty 100
  2. LIC MF Exchange Traded Fund - Nifty 50
  3. LIC MF Exchange Traded Fund - Sensex
  4. LIC MF G-Sec Long Term Exchange Traded Fund
  5. LIC MF Index Fund Nifty
  6. LIC MF Index Fund Sensex

The investment objective of all the above funds is the same - to offer returns that commensurate to the total returns provided by the benchmark index it tracks. ETFs and Index funds are ideal for investors who wish to invest their capital over a long term and in securities that comprise the particular index. The features of the 5 schemes are given below

Name of the scheme Benchmark Index Entry Load and Exit Load Riskometer Minimum Investment Fund Manager
LIC MF Exchange Traded Fund -Nifty 100 Nifty 100 Nil Moderately High Equivalent to creation unit size. One creation unit = 1,00,000 units of LIC MF ETF Nifty 100 Mr. Sachin Relekar
LIC MF Exchange Traded Fund - Nifty 50 Nifty 50 Nil Moderately High Equivalent to creation unit size. One creation unit = 50,000 units of LIC MF ETF Nifty 50 Mr. Sachin Relekar
LIC MF Exchange Traded Fund - Sensex S&P BSE Sensex Nil Moderately High Equivalent to creation unit size. One creation unit = 50,000 units of LIC MF ETF Sensex Mr. Sachin Relekar
LIC MF G-Sec Long Term ETF Nifty 8-13 year G-Sec Nil Moderate Equivalent to creation unit size. One creation unit = 1,00,000 units of LIC MF G-Sec Long Term ETF Mr. Marzban Irani
LIC MF Index Fund - Nifty Nifty 50 Entry Load - Nil. Exit load - 1% if the investor exits before 1 month from unit allotment date Moderately High Rs.5,000 Mr. Saravana Kumar
LIC MF Index Fund - Sensex S&P BSE Sensex Entry Load - Nil. Exit load - 1% if the investor exits before 1 month from unit allotment date Moderately High Rs.5,000 Mr. Saravana Kumar

The LIC MF Index Fund Nifty and LIC MF Index Fund Sensex have growth and dividend investment options.

Tax Saving Mutual Funds by LIC Mutual Fund

Investors who wish to save tax while also achieving capital gains can invest in the schemes mentioned below:

  1. LIC MF Tax Plan
  2. LIC MF Unit Linked Insurance Scheme

Both the schemes have been explained below:

  1. LIC MF Tax Plan
  2. Investment objective - To generate capital gains for the customer and offering tax benefits at the same time by investing in equity and its related instruments.

    Ideal for - Investors who wish to enjoy tax benefits while also achieving capital appreciation.

    Scheme features:

    Benchmark Index Nifty 500 Index
    Monthly Average Expense Ratio As on 1 May 2018, TER: Direct Plan - 1.67%, Regular Plan - 2.95%
    Investment Options Growth and Dividend (Reinvestment and Payout)
    Minimum Investment Rs.500
    Entry Load Nil
    Exit Load Nil
    Riskometer Moderately High
    Fund Manager Mr. Sachin Relekar
  3. LIC MF Unit Linked Insurance Scheme
  4. Investment objective - To offer capital appreciation, tax benefits, free life and accident insurance to the investor.

    Ideal for - Investors who wish to receive current income while also growing their capital over a long term.

    Scheme features:

    Benchmark Index CRISIL Hybrid 35 + 65 Aggressive Index
    Monthly Average Expense Ratio As on 1 May 2018, TER: Direct Plan - 1.49%, Regular Plan - 2.64%
    Investment Options Single Premium and Regular Contribution
    Minimum Investment Rs.10,000
    Entry Load Nil
    Exit Load Not Applicable
    Riskometer Moderately High
    Fund Manager Mr. Sachin Relekar (equity portfolio) and Mr. Marzban Irani (debt portfolio)

Documents Required for Investing in LIC Mutual Fund

Anyone interested in investing in a mutual fund is required to comply with the Know-Your-Customer (KYC) guidelines. To complete the KYC procedure, registering the Permanent Account Number (PAN) is a mandate. PAN registration can be done through a broker, mutual fund house or any intermediary of the Securities and Exchange Board of India (SEBI).

The KYC procedure can be completed either online or by submission of the documents physically. For the online KYC process (e-KYC), Aadhar number of the investor needs to be fed into the system which will then verify the details. Once the details are verified, the investors can start investing. The e-KYC holds valid for investments up to Rs.50,000. However, for investments greater than Rs.50,000, physical KYC is a must.

In a physical KYC process, investors need to download the KYC form available at the registrars (eg. Karvy, CAMS), website of the fund houses (eg. LIC Mutual Fund website - https://www.licmf.com/knowledge_center/know_ur_custo), and the Association of Mutual Funds of India (AMFI). After filling the downloaded form, the investor has to submit it at the nearest investor service center or at the office of the mutual fund house along with the below documents:

  • Identity Proof (PAN Card, Driving Licence, Passport, Voter ID, etc.)
  • Address Proof (Passport, Aadhaar card, Driving Licence, etc.)

Investors will need to carry the originals of the above documents while submitting the form. The KYC is a one-time process and once it is completed, investors can invest in mutual funds of any fund house.

Who can invest in LIC Mutual Fund?

The below-mentioned individuals/entities are eligible to subscribe to the units of LIC Mutual Fund:

  • Adult individuals residing in India
  • Minors can invest through a parent or a legal guardian
  • Karta of Hindu Undivided Family (HUF)
  • Limited Liability Partnerships (LLPs) and Partnership Firms
  • Firms, corporate bodies, PSUs (Public Sector Undertakings), Co-operative societies registered under the Co-operative Societies Act, 1912, and Societies registered under the Societies Registration Act, 1860
  • Religious and charitable trusts, private trusts, and Wakfs or endowments of private trusts
  • Financial institutions and banks
  • Mutual funds/alternative investment funds registered with SEBI
  • Foreign Portfolio Investors (FPIs) and Foreign Institutional Investors (FIIs) registered with SEBI
  • Persons of Indian Origin (PIOs), Non-Resident Indians (NRIs), and Overseas Citizens of India (OCI) on repatriation or non-repatriation basis
  • Council of Scientific and Industrial Research, India
  • Air Force, Navy, Army, and other paramilitary bodies
  • Other schemes of LIC Mutual Fund subject to SEBI regulations
  • Reserve Bank of India (RBI) and Government of India approved Bilateral Development Corporation Agencies/Multilateral Financial Institutions/Corporate Bodies incorporated outside India

How to Invest in LIC Mutual Fund Online?

To invest in LIC Mutual Fund, you can either approach the fund house directly, get in touch with the empanelled distributors, or invest through the online mode. To invest online, the investor needs to follow the below-given steps:

  • Visit the official site of LIC Mutual Fund (www.licmf.com).
  • On the topmost right-hand corner, click on the ‘Invest Online’ button.
  • If the investor is investing for the first time, he/she needs to enter the PAN and click on ‘Submit’.
  • The investor then needs to tick the relevant boxes and click on the ‘I Agree’ button to proceed.
  • On the next page, the investor will be required to fill in the necessary information to continue further.
  • Once the information is filled up and submitted, the investor is ready to invest in the schemes of LIC Mutual Fund.

Why Choose LIC Mutual Fund?

  • Brand value - LIC Mutual Fund is an associate of Life Insurance Corporation (LIC) of India which is India’s most trusted insurance brand. With a background like this, there can be no doubt about its reliability and trustworthiness.
  • Rich experience - With more than 2 decades of experience in the mutual fund segment, LIC Mutual Fund can boast of its expertise in the domain.
  • Broad network - LIC has a huge network of branch offices spread across the country which makes it accessible for the investors.
  • Tax benefits - Many schemes of LIC Mutual Fund such as LIC MF Tax Plan and LIC MF Unit Linked Insurance Scheme lets investors enjoy tax benefits.
  • Excellent customer assistance - Superior quality customer care is delivered to investors by a team of professionals.

Frequently Answered Questions

  1. I want to start investing in LIC Mutual Fund online. Do I need to submit any documents?
  2. Answer: No, you need not. Once you enter your PAN on the ‘Invest Online’ button, you will be asked to fill in the necessary information after which you can start investing. However, you do need to complete the KYC (Know-Your-Customer) process before you can start investing. You can go through the ‘Know Your Customer’ section present in the ‘Knowledge Center’ on the official website of LIC Mutual Fund to know more about how to complete the KYC procedure.

  3. I wish to make a purchase. How do I transfer the funds?
  4. Answer: A valid email ID and a mobile number is a mandate to start investing in mutual fund schemes. You also need to have a netbanking facility enabled with your bank in order to transfer the funds to the respective scheme. While transferring the funds, you need to confirm the scheme, the amount to be transferred, and follow the normal netbanking procedure. Once the payment is completed, you will be redirected to the confirmation page containing the details of the transaction along with a reference number. You will also receive a confirmation email on your registered email ID.

  5. I completed my first purchase. How soon can I start transacting?
  6. Answer: Your folio will be frozen until your details have been verified from the backend. Once the verification is complete, your account statement will be generated and sent to your registered email ID. You can start transacting in your folio as soon as you receive your account statement. To transact, you will need to generate your PIN by visiting www.licmf.com, click the ‘Investor Login’ button, and then hit the ‘Online PIN Generation’ button.

  7. What is Transact Online?
  8. Answer: It is a service provided by LIC Mutual Fund for its investors where they can purchase, switch, or redeem fund units online at www.licmf.com. You can also use this facility to view your account statement, transaction details, and other account details. Under the ‘My Profile’ section, you can add or delete a folio, change password and PIN, while under the ‘My Portfolio’ section, you can track your portfolio. All investors of LIC Mutual Fund will have access to the Transact Online facility.

  9. What is online SIP and how do I register for it?
  10. Answer: The online SIP or Systematic Investment Plan lets you invest in the schemes of LIC Mutual Fund via an online mode. There is no paperwork involved and any existing investor who is KYC compliant can apply for online SIP. To apply/register for an online SIP, please follow the below-given steps:

    Step 1 - Visit the official site of LIC Mutual Fund (www.licmf.com).

    Step 2 - Click on ‘Existing Investor’ and enter your username and password.

    Step 3 - Under ‘Transactions’, click on the ‘SIP’ button and fill up the registration form for SIP.

    Step 4 - Once you fill the form and click on the ‘Submit’ button, an URN (Unique Registration Number) will be displayed on the confirmation page screen.

    Step 5 - Now login to your bank’s netbanking site and add LIC Mutual Fund as your biller. To complete the process, you will need to enter the URN.

    After 10 days, your SIP will be activated with your bank.

  11. Can I redeem my units online and how long will it take for me to receive the redemption amount?
  12. Answer: Yes, you can. To redeem the units, you need to visit - https://online.licmf.com/Login.aspx and log in using your credentials. You will then need to select the scheme you have invested in and do a full or partial redemption. You will get an intimation through an email or SMS registered under your folio. The amount will be transferred to your bank account updated in your folio through Cheque/Direct Credit/RTGS/NEFT. The redemption amount will be credited to your account within 1 to 3 business days depending on the service levels of the schemes. The maximum limit however is 10 business days.

  13. Can I invest using the RTGS facility?
  14. Answer: Both RTGS (Real Time Gross Settlement) and NEFT(National Electronic Fund Transfer) facilities can be used to invest in the schemes of LIC Mutual Fund. The RTGS facility is used only for transactions above Rs.2 lakh. The system will display the RTGS option only if the investment amount is more than Rs.2 lakh.

  15. How do I get in touch with the customer care department of LIC Mutual Fund?
  16. Answer: If you have any issues or queries relating to any schemes of LIC Mutual Fund, you can get in touch with the customer care department on their toll-free number - 1800 258 5678, email them at service_licmf@karvy.com or approach their nearest branch mentioned in the scheme documents.

Display of any trademarks, tradenames, logos and other subject matters of intellectual property belong to their respective intellectual property owners. Display of such IP along with the related product information does not imply BankBazaar’s partnership with the owner of the Intellectual Property or issuer/manufacturer of such products.

News about LIC Mutual Fund

  • LIC Mutual Fund launches learning app ‘Talking Assets’

    Government-backed investment firm LIC Mutual Fund (LIC MF) has introduced a new learning app known as ‘Talking Assets’. The app will be a part of LIC MF’s ‘Nivesh Guru’ initiative and will reach out to LIC MF’s channel partners across India. The channel partners will include LIC agents and banks. The app has been developed by an Edutech firm based in Mumbai and the firm works in the field of investment education and financial literacy. Over 2,000 channel partners have downloaded the app so far and they are also being trained on the app.

    The Talking Assets app has recently received an upgrade and will now offer content in Hindi. The inclusion of Hindi content has been done to make learning accessible to the channel partners of LIC Mutual Fund. The new version of the app will be beneficial to approximately 10,000 channel partners in the near future. The app is a learning platform that has been distributed digitally, is priced low, offers channel partners an easy way of reading and understanding basics, and has been designed to augment LIC MF’s efforts in training and certification on a large scale.

    20 August 2018

  • LICs Nomura MF aims to raise Rs 100 crore

    India's largest life insurance agency, LIC hopes to raise Rs 100 crore through its Nomura Mutual Fund plan. This close ended income-Dual Advantage fixed term scheme was recently launched, with September 24, 2015 set as the closing date for this fund.

    The fund has a maturity period of 43 months and intends to invest in debt and equity, in a 65:35 ratio. The company hopes to offer weighted average returns in the range of 9.20 to 9.25% from this fund, which hopes to provide capital appreciation to investors by investing smartly in debt and money market securities.

    10 September 2015

GST rate of 18% applicable for all financial services effective July 1, 2017.

Display of any trademarks, tradenames, logos and other subject matters of intellectual property belong to their respective intellectual property owners. Display of such IP along with the related product information does not imply BankBazaar's partnership with the owner of the Intellectual Property or issuer/manufacturer of such products.

reTH65gcmBgCJ7k
This Page is BLOCKED as it is using Iframes.