LIC Mutual Fund introduces open-ended multi asset allocation fund

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LIC Mutual Fund introduces open-ended multi asset allocation fund - Business Standard

Quick Summary:

"Hybrid mutual funds saw a 27 per cent surge in assets under management in 2024, increasing from Rs 6.90 lakh crore in January to Rs 8.77 lakh crore in December according to data published by Association of Mutual Funds in India (AMFI).

LIC Mutual Fund on Friday launched its Multi Asset Allocation Fund, an open-ended scheme that invests in equity, debt, and gold to achieve long-term capital appreciation.

The scheme's benchmark is a combination of 65 per cent Nifty 500 TRI, 25 per cent Nifty Composite Debt Index, and 10 per cent domestic gold prices, it added.