Expressnews
Chennai:
Tamil Nadu is registering a significant growth in the overall mutual fund (MF) business in the country and the state ranks second in terms of Average Assets under Management (AAUM) among the southern states. According to the AMFI data, mutual fund industry’s AAUM of Tamil Nadu, as of December 2024, is Rs 3,14,700 crore. In this, LIC MF has Rs 2,164 crore assets under management (AUM) as on December 30, 2024. Currently, LIC MF has three branches in the state, spreading across Chennai and Coimbatore.
With immense potential for business expansion in the near-to-medium term due to the remarkable industrial growth the state is witnessing today, Tamil Nadu has emerged as a key market for mutual fund players. There is a notable improvement in the investment climate in the state, a jump in the number of organised labour and white-collar professionals, especially in urban cities such as Chennai and Coimbatore. There is a remarkable growth in the number of active LIC MF investors and distributors in Chennai with the numbers touching 10,188 and 1,623, respectively, as of December 2024.
LIC Mutual Fund offers schemes across various categories like equities, debt, passives and solution-oriented funds aligned with an investor’s risk tolerance and investment horizon. This flexibility allows people to take very sound and informed investment decisions and follow ambitious financial goals.
India’s impressive economic growth, investment climate, a positive medium-term outlook, strong corporate earnings potential, and stable financial markets are motivating people to invest in equities through Systematic Investment Plans (SIPs), enabling significant wealth creation over time.SIPs have emerged as a convenient and disciplined way for investors to participate in the in the financial markets. SIPs simplify the investment process with manageable, periodic contributions, making them an ideal choice for achieving long-term financial goals.
