LIC Nomura Mutual Fund

What LIC Nomura Mutual Fund does

LIC Nomura Mutual Fund (LIC MF) is an India-based asset management company sponsored by Life Insurance Corporation of India (LIC), which holds a 49.87% stake in the AMC (LIC Mutual Fund Asset Management Ltd) and 49% in the trustee company (LIC Mutual Fund Trustee Private Ltd). Established on April 20, 1989, the firm operates as a private limited company headquartered at the Industrial Assurance Building in Churchgate, Mumbai, with 501–1,000 employees, 54 area offices across India, and is regulated by SEBI (Reg. No. MF/012/94/5). LIC MF offers a diversified suite of approximately 30 mutual fund schemes spanning equity (large-cap, mid-cap, small-cap, flexi-cap, value, dividend yield, focused, sector/thematic including Technology, Infrastructure, Healthcare, Manufacturing, Consumption), debt (low duration, money market), hybrid (aggressive hybrid, balanced advantage, arbitrage, equity savings, multi-asset allocation), solution-oriented (children's fund, ELSS), ETFs (Gold, Nifty 50, Sensex), and index funds.

The firm's technology backbone is the Transact Online investor portal with 128-bit SSL encryption, paperless account opening, Aadhaar-based e-KYC, UPI/NACH payment integration, and online SIP registration supporting daily, monthly, and quarterly frequencies. Distribution combines direct digital sales with a large physical channel: 6,200 LIC insurance agents have been empanelled as active mutual fund distributors (out of LIC's 1.48 million insurance agents), 54 area offices, and a toll-free investor service center. LIC MF's revenue model is asset-management fees — a Total Expense Ratio (TER) charged against Assets Under Management — with no alternative revenue streams disclosed. AUM grew from ₹16,500 crore to ₹51,000 crore over three years (equity ₹19,000 crore, debt ₹30,000 crore), with the company publicly targeting ₹1 trillion AUM. Customer segments are predominantly retail, with differentiated product tiers including Choti SIP (₹250/month, 60-instalment minimum) and Pocket SIP (₹100 daily) targeting first-time and smaller-city investors, alongside a newly launched women-centric branch in South Delhi aimed at closing the gender gap in mutual fund participation.

Name

LIC Nomura Mutual Fund

Legal name

LIC Mutual Fund Asset Management Ltd

Website

https://licmf.com

Company type

Private

Founded year

1989

Operating status

Operating

Headcount range

501–1,000 employees

Short description

LIC Nomura Mutual Fund is an India-based asset management company sponsored by Life Insurance Corporation of India (49.87% stake), offering diversified mutual fund schemes across equity, debt, hybrid, and ETF categories to retail and first-time investors, distributed through LIC's 1.48 million-agent network and 54 branch offices.

Ownership category

akta.pro rank

Product category

Asset Management

NAICS

Open-End Investment Funds (52591), Portfolio Management and Investment Advice (52394), Open-End Investment Funds (525910)

SIC

Investment Advice (6282)

akta.pro primary industry

Investment Management Advisory (RIA) (FSAEAAAB)

akta.pro secondary industries

Balanced & Allocation (Multi-Asset) Funds (FSAAAEAD), Target-Risk / Risk-Managed Allocation Funds (FSAAAEAG), Fixed Income Mutual Funds (FSAAAEAB), Index Mutual Funds (Non-ETF) (FSAAAEAE)

Keywords

• Mutual fund schemes
• Asset management services
• Systematic investment plans
• Wealth management products
• Portfolio management services

Headquarters

HQ city

Mumbai

HQ country

India

HQ region

Asia

Offices3 records

Markets served

GTM type

B2C

Offering type

Services

Cost components

Personnel, Operations, Marketing or Sales, Technology or R&D, Infrastructure, Others

Revenue model

1. Asset Management Fees: LIC MF earns management fees as a percentage of Assets Under Management (AUM) across its equity, debt, hybrid, ETF, and solution-oriented schemes. The company operates on a total expense ratio (TER) model charged to investors.

Pricing tiers

Go-to-market motion3 records

Distribution channels5 records

Marketing channels6 records

Core offering

LIC Nomura Mutual Fund is an Indian asset management company offering a diversified portfolio of mutual fund schemes across equity, debt, hybrid, solution-oriented, exchange-traded fund (ETF), and index fund categories. The company also offers innovative Systematic Investment Plan (SIP) features such as Choti SIP (starting at ₹250/month) and Pocket SIP (starting at ₹100 daily) to make mutual fund investing accessible to first-time and small-ticket investors, with distribution through a digital transaction portal, 54 area offices, and LIC's 1.48 million insurance agent network.

Product overview

LIC Nomura Mutual Fund (LIC MF) operates as a diversified asset management company offering a comprehensive portfolio of mutual fund schemes across equity, debt, hybrid, solution-oriented, and exchange-traded categories. The product lineup includes: thematic funds like the LIC MF Technology Fund targeting India's technology and AI sector; multi-asset funds like LIC MF Multi Asset Allocation Fund combining equity (65%), debt (25%), and gold (10%); core equity funds spanning large-cap, mid-cap, small-cap, value, dividend yield, and flexi-cap strategies; hybrid solutions including aggressive hybrid, balanced advantage, arbitrage, and equity savings funds; sector-specific funds in healthcare, manufacturing, and consumption; tax-saving ELSS funds; and ETFs/index funds tracking major indices like Nifty 50, BSE Sensex, and gold. The company also offers innovative SIP features including Choti SIP (starting at ₹250) and Pocket SIP (starting at ₹100 daily) to democratize investing. All schemes are distributed through online platforms, empanelled distributors, and LIC's network of insurance agents.

Differentiator

Problem solved

Functional benefit

Brands

• Choti SIP: A small SIP facility allowing investments starting at ₹250 per month, designed for first-time mutual fund investors including students, homemakers, and those with irregular income.
• Pocket SIP

Products and services

• LIC MF Technology Fund Open-ended equity thematic mutual fund scheme investing in India's technology sector including semiconductors, data centers, digital commerce, and AI-related businesses, benchmarked against BSE TECK Total Return Index. Designed for investors seeking exposure to the technology and AI growth theme.
• LIC MF Multi Asset Allocation Fund Multi-asset allocation mutual fund scheme combining 65% equity (Nifty 500 TRI), 25% debt (Nifty Composite Debt Index), and 10% domestic gold exposure for balanced portfolio diversification across asset classes.
• LIC MF Value Fund Value-oriented equity mutual fund with Very High risk profile, benchmarked against Nifty 500 TRI, targeting stocks trading below intrinsic value.
• LIC MF Flexi Cap Fund Flexible capital allocation equity fund investing across large-cap, mid-cap, and small-cap segments, benchmarked against Nifty 500 TRI.
• LIC MF Multi Cap Fund Multi-cap equity fund investing across large-cap, mid-cap, and small-cap stocks with a flexible allocation strategy, benchmarked against Nifty 500 TRI.
• LIC MF Small Cap Fund Small-cap equity fund investing in emerging companies with high growth potential, benchmarked against Nifty Smallcap 250 TRI.
• LIC MF Dividend Yield Fund Dividend yield-focused equity fund targeting stocks with high dividend payouts, benchmarked against Nifty 500 TRI.
• LIC MF Focused Fund Focused equity fund employing a concentrated portfolio strategy, benchmarked against Nifty 500 Index TRI.
• LIC MF Infrastructure Fund Open-ended equity scheme investing in infrastructure sector companies, managing approximately ₹1,007 crore in assets and awarded a 4-star rating by Value Research; 15 years of operation since March 2008.
• LIC MF Large Cap Fund Large-cap equity fund focusing on established blue-chip companies, benchmarked against Nifty 100 TRI.
• LIC MF Mid Cap Fund Mid-cap equity fund targeting medium-sized companies with growth potential.
• LIC MF ELSS Tax Saver Equity-linked savings scheme offering tax benefits under Section 80C of the Income Tax Act with a 3-year lock-in period.
• LIC MF Aggressive Hybrid Fund Aggressive hybrid fund with equity allocation of 65% or more, benchmarked against CRISIL Hybrid 35+65 - Aggressive Index.
• LIC MF Balanced Advantage Fund Dynamic asset allocation fund adjusting the equity-debt mix based on prevailing market conditions, benchmarked against Nifty 50 Hybrid Composite Debt 50:50 Index.
• LIC MF Arbitrage Fund Arbitrage fund exploiting price differentials in equity and derivatives markets for low-risk returns, benchmarked against NIFTY 50 Arbitrage Index.
• LIC MF Equity Savings Fund Equity savings fund combining equity exposure with hedging strategies, benchmarked against Nifty Equity Savings Index.
• LIC MF Conservative Hybrid Fund Conservative hybrid fund with higher debt allocation for stable income generation and lower risk profile.
• LIC MF Children's Fund Goal-based children's education savings mutual fund with a long-term investment horizon.
• LIC MF Gold ETF Fund of Fund Fund of fund investing in LIC MF Gold ETF, providing retail investors exposure to gold through a mutual fund route. Tied for the highest Sharpe ratio of 1.84 among gold commodity-based mutual funds over 3 years.
• LIC MF Gold ETF Gold exchange-traded fund providing exposure to domestic gold prices, listed on NSE with exchange symbol LICNETFGSC.
• LIC MF Nifty 50 ETF Exchange-traded fund replicating the performance of the Nifty 50 index for passive large-cap equity exposure.
• LIC MF BSE Sensex ETF Exchange-traded fund replicating the performance of the BSE Sensex index for passive blue-chip equity exposure.
• LIC MF Nifty 50 Index Fund Index fund tracking the Nifty 50 index for large-cap market exposure at low cost.
• LIC MF BSE Sensex Index Fund Index fund tracking the BSE Sensex benchmark for low-cost large-cap exposure.
• LIC MF Nifty Next 50 Index Fund Index fund tracking the Nifty Next 50 index for exposure to emerging blue-chip companies.
• Choti SIP Facility Beginner-friendly systematic investment plan (SIP) starting at ₹250 per month, designed for first-time mutual fund investors including students, homemakers, and individuals with irregular income to start their wealth-building journey with a low-minimum commitment of 60 instalments.
• Pocket SIP Low-minimum systematic investment plan starting at ₹100 for daily SIPs, designed to democratize mutual fund investing for first-time investors in smaller cities and semi-urban areas; reached 1.80 lakh accounts.
• LIC MF Money Market Fund Money market mutual fund for short-term liquidity management with a low risk profile.
• LIC MF Low Duration Fund Low duration debt fund delivering short-term returns with relatively low interest-rate risk; 2.0% returns over trailing three months and 6.7% CAGR over three-year period.
• LIC MF Healthcare Fund Sector-specific equity fund focusing on healthcare and pharmaceutical companies.
• LIC MF Manufacturing Fund Sector-specific equity fund investing in manufacturing sector companies.
• LIC MF Consumption Fund Sector-specific equity fund targeting consumption-driven and consumer-facing businesses.

Quantifiable outcome

• LIC MF Infrastructure Fund turned a Rs 10,000 monthly SIP into approximately Rs 34.73 lakh over 10 years, generating 18.51% average annual return
• +3 more outcomes

Segments3 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature4 records

Partnerships

Eight partnerships are on record, tiered core, supporting and minor.

• LIC Housing Finance Ltd.coreOthers · 20 April 1989Joint venture partner and shareholder of LIC Mutual Fund Trustee Private Ltd. (35.30% stake). One of India's largest housing finance companies serving over 15.56 lakh prudent house owners, providing financial strength and institutional backing to the AMC.
• GIC Housing Finance Ltd.supportingOthers · 20 April 1989Joint venture partner and shareholder of LIC Mutual Fund Trustee Private Ltd. (15.70% stake). With presence across 59 branches and tie-ups with builders and corporates, GIC HFL provides finance to individual borrowers for various housing finance needs.
• Life Insurance Corporation of India (LIC)coreOthersPrimary sponsor of LIC Mutual Fund, holding 49.00% of LIC Mutual Fund Trustee Private Ltd. and 49.87% of LIC Mutual Fund Asset Management Ltd. (including 7 nominee shareholders). LIC is India's premier life insurer with over 250 million insured lives and assets exceeding ₹57 lakh crore, providing unmatched brand credibility and distribution reach.
• IDBI Asset Management LimitedsupportingOthersShareholder of LIC Mutual Fund Asset Management Ltd. with 7.68% stake. IDBI is a development financial institution with significant presence in India's financial sector.
• Union Bank of IndiaminorOthersShareholder of LIC Mutual Fund Asset Management Ltd. with 3.09% stake.
• Kfin Technologies LimitedcoreTechnology or IntegrationRegistrar and Transfer Agent (RTA) for LIC MF schemes. Located at Karvy Selenium Tower B, Gachibowli, Hyderabad. Handles investor services, transaction processing, NAV calculations, and KYC data management.
• Standard Chartered BankcoreTechnology or IntegrationFund Accountant and Custodian for LIC Mutual Fund schemes. Provides securities services and fund accounting from BKC, Mumbai. Ensures safe custody of scheme assets and accurate NAV computation.
• Stock Holding Corporation of India Ltd (SHCIL)supportingTechnology or IntegrationCustodian for LIC MF Gold Exchange Traded Fund. Located at Mahape, Mumbai. Provides depository and custodial services for gold ETF units.

Scale indicators9 records

Recent moves10 records

Expansion highlights5 records

Broad incumbents

• SBI Mutual Fund: India's largest AMC with AUM of ₹12.6 trillion, sponsored by State Bank of India. Most directly comparable as another PSU-backed AMC with massive bank-led distribution, serving similar retail and institutional mutual fund investors across India.

Direct peers

• HDFC Asset Management Company: One of India's largest AMCs with ₹3.7+ trillion AUM, sponsored by HDFC Group. Direct competitor offering identical mutual fund product categories (equity, debt, hybrid, ETFs) with similar distribution mix including banca and direct-to-consumer channels.
• ICICI Prudential Asset Management: Major Indian AMC sponsored by ICICI Bank and Prudential plc. Direct peer with overlapping product suite and similar bancassurance-led distribution model, leveraging parent bank's extensive customer base.
• UTI Asset Management Company: Closest structural peer - PSU-backed Indian AMC with similar governance complexity (multiple public-sector shareholders). Operates a comparable product mix targeting retail and institutional investors, and faces similar competitive positioning as a non-bank-led AMC.
• Nippon Life India Asset Management: Major Indian AMC (formerly Reliance Nippon) with ₹2.5+ trillion AUM, backed by Nippon Life Insurance. Particularly relevant as it represents the foreign-insurer-led AMC model that LIC MF aligns with through its insurance parent backing.
• Aditya Birla Sun Life AMC: Large Indian AMC with ~₹3 trillion AUM, joint venture between Aditya Birla Group and Sun Life Financial. Direct competitor offering similar mutual fund products with comparable distribution approach via parent group networks.
• Kotak Mahindra Asset Management: Indian AMC with ~₹2.5 trillion AUM, part of Kotak Mahindra Group. Direct peer offering equity, debt, hybrid and ETF products with bank-led distribution and similar mid-tier AMC positioning.
• Axis Asset Management Company: Indian AMC with ₹2+ trillion AUM, part of Axis Bank group. Direct peer competing in similar product categories with comparable bank-led distribution and similar positioning in the mid-to-large AMC segment.
• DSP Asset Managers: Indian AMC managing over ₹1.5 trillion, historically known as a strong active equity house. Comparable in offering equity, debt and hybrid mutual fund products to retail and institutional clients.
• Franklin Templeton Asset Management (India): Global asset manager's India arm offering equity, debt and hybrid mutual funds. Competes directly in product categories and target segments, providing a benchmark for global-affiliated AMC positioning in India.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks3 records

Key highlights7 records

Customer concentration

• Xx.com/licmutual
• YouTubeyoutube.com/channel/UC-NNIPxTFGB79TpoualNqGw
• Facebookfacebook.com/licmutual
• LinkedInlinkedin.com/company/licmutual
• Instagraminstagram.com/licmutualfund

Revenue estimate

Valuation estimate

Number of profiles

Profiles11 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments7 records

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about LIC Nomura Mutual Fund