LIC Nomura MF is open to acquisition, evaluating options

LIC Nomura Mutual Fund is open to acquisitions to grow its asset base and is evaluating a few options in this space, a top company official said.

"We are evaluating a few options, but has not taken any decision," LIC Nomura MF Chief Operating Officer Anutosh Bose told PTI.

He declined to give any enterprise value of any such possible acquisition, saying that company's board has given a nod without putting any cap on capital.

Bose also said the acquisition doesn't only aim to increase the assets under management (AUM), but will also look at adding sound investor base.

LIC Nomura Mutual Fund, which had an average AUM of Rs 10,584 crore by the end of last fiscal, aims to grow it to Rs 15,000 crore during this fiscal.

The fund house, which has around 15% of assets under equity category with rest coming from debt products, also hopes 20-25% asset growth in these categories.

"We also see more contribution coming from retail investors in the coming time," Bose said.

Talking on new product launches, he said the company is planning to come up with a few diversified close-ended equity products along with some debt products in the current financial year.

Bose also said the fund house may launch a global fund going ahead.

LIC Nomura Mutual Fund is the tie up between insurance major LIC and Japan-based Nomura, with LIC holding 65% stakes in the joint venture.

Post new comment

E-mail ID will not be published
CAPTCHA
This question is for testing whether you are a human visitor and to prevent automated spam submissions.
Image CAPTCHA
Copy the characters (respecting upper/lower case) from the image.

EDITORIAL OF THE DAY

  • Govt can’t clamp down on voices that ask uneasy questions

    It has hardly been a peaceful annum for Greenpeace’s India arm that has been in and out of trouble over the last one year.

FC NEWSLETTER

Stay informed on our latest news!

INTERVIEWS

Sarthak Raychaudhuri

vice-president, HR, Asia South Whirlpool of India

GV Nageswara Rao

MD & CEO, IDBI Federal Life

Timothy Moe

Goldman Sachs

TODAY'S COLUMNS

Varun Dutt

<b>Risk Factor:</b> The blame game

In decision-making, the fundamental attribution error (FAE), also known as ...

Zehra Naqvi

Dignity of labour is dignity of life

M Rafi Khan, a retired police IG, used to ...

Gautam Gupta

Retailers have it tough, thanks to e-commerce

For the past few months our focus has been on ...

INTERVIEWS

William D. Green

Chairman & CEO, Accenture