LIC Mutual Fund: Equity schemes and index funds – Worst performers in their categories
Even as LIC Mutual Fund faces the heat over heavy losses in liquid and money market investments, its equity schemes and index funds continue to be among the worst performers in their categories
Life Insurance Corporation of India’s (LIC) mutual fund company has fallen on troubled times, according to a report in a leading business daily. With questionable investments in liquid and money market schemes, LIC Mutual Fund has notched up losses to the tune of Rs120 crore in its half-yearly earnings report. This hardly comes as a surprise given the pathetic track record across the spectrum of mutual fund schemes launched by the subsidiary of the country’s largest financial institution.
LIC enjoys the trust of millions of insurance policyholders in the country, who bank on its safe image and clean record for settling claims. Unfortunately, this has not been the case with LIC MF. For long now, a majority of LIC MF’s schemes have been among the worst performers in their category and have earned a notorious reputation for underperformance and average returns. For more visit: Moneylife.in
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