LIC Nomura Mutual Fund has emerged as the fastest growing mutual fund company in terms of annual AAUM by witnessing 62.55% growth for the quarter Oct –Dec 2015 as compared to the previous year Oct –Dec 2014. The company has seen a remarkable increase in the AAUM growth which is 41.5% higher vis-a-vis the industry growth which has been recorded at just 21.05%.
Speaking on the development, Ms. Sarojini Dikhale, Director and Chief Executive Officer, LIC Nomura MF said, “LIC Nomura Mutual Fund has strived to continue growing faster than the industry by attracting more and more retail investor participation from the B15 & T15 cities. This phenomenal success comes from sustained efforts of the fund house and superior fund performance. We aim to target an AUM of 15000 cr in January 2016 and determine to achieve 20000 Cr AUM by the end of this financial year.”
The retail investor participation has gone up tremendously showcasing an increase in the number of folios by 12%. The SIPs in the retail front has gone up to 66% in the B15 cities and rest 24% from T15 Cities.