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E-mail ID will not be published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.

EDITORIAL OF THE DAY

  • Indian-promoted global corporations must follow accounting best practices

    The international advisory board (IAB) of capital market regulator Securities and Exchange Board of India (Sebi) has suggested that separate governanc

FC NEWSLETTER

Stay informed on our latest news!

INTERVIEWS

GV Nageswara Rao

MD & CEO, IDBI Federal Life

Timothy Moe

Goldman Sachs

Chander Mohan Sethi

CMD, Reckitt Benckiser India

COLUMNIST

Arun Nigavekar

Cost of education must be controlled

In India, we pay very little attention to the cost ...

Rajgopal Nidamboor

Focus to keep your daily qualms at bay

Philosophers and scientists have, for long, compared the human brain ...

Gautam Gupta

What we can learn from the French fashion scene

It was a pleasure and a treat to experience one ...

INTERVIEWS

William D. Green

Chairman & CEO, Accenture