LIC MF to open relocated office in Hyd

LIC Mutual Fund on Tuesday said it is all set to inaugurate its relocated office in Hyderabad on January 24, 2024. The office will be inaugurated by R K Jha, Associate Director, LIC Mutual Fund Asset Management Limited.

Citing Association of Mutual Funds in India (AMFI) dataLIC Mutual Fund in a press release said thatthe Assets under Management (AUM) of the domestic MF industry as onDecember 31, 2023 stand at Rs50.77 lakh crore. In this, the combined Average AUM in the Telangana and Andhra Pradesh region stands at Rs 1.43 lakh crore. Hyderabad alone accounts for almost Rs 1 lakh crore AUM and it is the eight biggest city in the country in terms of industry assets.

“With the emergence of MF as one of the preferred asset classes among the urban professionals and middle-class investors, we are expecting better flow of funds from these categories in the days to come.