LIC Mutual Fund appointed Nikhil Rungta as co-chief investment officer – equity (Co-CIO) starting June 19, 2024. The fund informed unitholders of this change through a notice-cum-addendum.
Nikhil Rungta has over 16 years of experience in the equity and capital markets segment at reputed financial organizations.
Before this appointment, Nikhil Rungta served as Equity Fund Manager–SBI Pension Funds. He also held various senior investment management roles such as Chief Investment Officer – Golden Myriad (Garware Group Family Office), Co-Fund Manager and Research Analyst – Nippon India Mutual Fund, Investment Manager and Research Head – BFSI – Bajaj Allianz Life Insurance Company, Lead Analyst – BFSI – Anand Rathi Shares & Stockbrokers, Equity Research Analyst – Standard Chartered Securities (India), and Equity Research Analyst – Religare Capital Markets.
“We are happy to announce the appointment of Mr Nikhil Rungta as Co-Chief Investment Officer – Equity and he brings with him profound knowledge of equity research and capital markets operations. He joins LIC MF at a time when the MF industry is seeing record fund inflows and higher levels of retail participation. We hope that Mr Rungta’s leadership role will fetch rich dividends and lead the company to remarkable heights,” said Ravi Kumar Jha, Managing Director and Chief Executive Officer, LIC Mutual Fund.
LIC Mutual Fund currently manages 39 mutual fund schemes which include 14 equity funds, 9 debt funds, five hybrid funds, one solution-oriented fund, and 10 passive funds (ETF and Index funds). The fund house has around 7.07 lakh folios.
Launched in April 1994, the fund house manages assets of Rs 32,973 crore as of May 2024.
The fund house mentioned that the relevant section of SAI of the fund house stands modified in accordance with the above. This notice cum addendum shall form an integral part of the SAI of LIC Mutual Fund as amended from time to time. All other contents of the SAI will remain unchanged.
