'Merger between LIC Mutual Fund and IDBI MF in advanced stage'

Times of India LogoTimes of India1 mo ago

'Merger between LIC Mutual Fund and IDBI MF in advanced stage' - Times of India

Quick Summary:

Merger between LIC Mutual Fund and IDBI Mutual Fund is at a "fairly advanced stage", a top official said on Thursday.

"The process is on, it is at a fairly advanced stage," LIC MF's managing director and chief executive T S Ramakrishnan told reporters, when asked about reports of the merger.

It is aiming to increase the share of equity investments to the industry average of 45 per cent of the AUM by FY24 from the present level which is about 12-13 per cent lower, Ramakrsihnan said.

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Article Details

Author / Journalist: PTI

Category: Economy



Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2022-09-29 @ 20:59:09 (1 months ago)

News Timezone: GMT +5:00

Ranking: #1008 (out of 3346 stories this day)

News Source URL:

Language: English

Article Length: 523 words

Reading Time: 3 minutes read

Sentences: 16 lines

Sentence Length: 33 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © Times of India

News ID: 621534

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About Times of India

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Main Topics: Economy

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Update Frequency: 21 posts per day

Year Established: 1838

Headquarters: India

News Last Updated: 10 hours ago

Coverage Areas: India

Ownership: Independent Company

Publication Timezone: GMT +5:00

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News Language: English

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Website Security: Secure (HTTPS)

Publisher ID: #28

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