LIC Mutual Fund today said that Raj Kumar has joined the fund house as a whole time director effective from April 28. The position was created after Sarojini Dikhale was transferred to LIC as executive director, marketing and product development some time back.
With an average assets under management at Rs 21,475 crore as on March 31, LIC Mutual Fund is currently ranked 17th in the industry. “I am extremely delighted to join LIC MF and looking forward to use my experience and insights gained through the life insurance industry in the mutual fund industry,” Raj Kumar said in a statement.
“We aim to reach new heights in the MF industry. Our endeavour has, always, been to deliver consistent performance to our investors under the trust of our brand LIC Mutual Fund and we are committed for that,” he said.
In his professional career, spanning more than 32 years, Kumar has worked as zonal manager central zone, LIC of India, at Bhopal for one year. Prior to it, he was an executive director (HRD) and executive director (estates and office services) at corporate office of LIC here.
Recently, the assets under management (AUMs) of the mutual fund industry is likely to touch the magical mark of Rs 20 trillion next month. Moreover, investment by the MF players in the equity market has surpassed that of foreign institutional investors, figures from industry body AMFI have revealed.