LIC Mutual Fund plans SIF launch by October, targets ₹500 crore corpus

LIC Mutual Fund is planning to launch its first Specialised Investment Fund (SIF) by October, targeting an initial mobilisation of ₹500 crore from high-net-worth investors (HNIs).

“We have applied to the Securities and Exchange Board of India (SEBI). Once approval comes, then we will be able to launch the fund,” LIC Mutual Fund MD & CEO Ravi Kumar Jha told reporters in Chennai on Monday.

SIF is an investment product regulated by SEBI that sits between traditional mutual funds and portfolio management services (PMS), offering fund managers greater flexibility to implement investment strategies while operating under a defined regulatory framework.

Asked about the timeline, Jha said, “October I can say,” even as he added that the launch would ultimately depend on when the market regulator grants approval and the prevailing market conditions.

Confirming the initial target of ₹500 crores; he said the SIF category is designed for affluent investors, allowing wealthy customers to invest in mutual fund schemes with a minimum ticket size of ₹10 lakh.

Mr. Jha said SIF offers a lower entry threshold than PMS, which require a minimum investment of ₹50 lakh; while offering mutual fund taxation benefits. The company has already begun operational preparations for the launch, with employees undergoing the required certification process.

The proposed launch comes as LIC Mutual Fund crossed the ₹50,000-crore assets under management (AUM) milestone.

The fund house’s AUM stood at ₹50,875 crore as of July 31, 2026, compared with ₹16,526 crore in April 2023, representing a 208% growth over the past three years, he said, targeting ₹1 lakh crore AUM by March 31, 2027 despite market volatility.

To achieve that goal, he said LIC Mutual Fund would focus on three key segments: retail investors through systematic investment plans (SIPs), bank distribution partnerships and corporate and institutional clients.

Kumar also said the company is not planning to launch any new equity-oriented funds immediately.

“This year we are not very keen to issue any NFO because we are seeing that the equity market is not so positive. It is not giving a very positive signal right now,” he said, adding that fresh launches could be considered in the second half of the financial year depending on market conditions.