LIC, or the Life Insurance Corporation of India, stands as a highly reputed financial institution within the country. Known for its presence in the insurance sector, recent news highlights its partial stake sale to private entities. Despite its prominence in insurance, its role in the mutual fund sector remains moderate. However, the management team has set ambitious goals, aiming to achieve an Assets Under Management (AUM) of ₹1 lakh crore by FY27.
As of March 31st, 2024, LIC Mutual Fund manages an AUM of INR 27,755.31 crore, offering a diverse range of 38 schemes across various categories. These include 13 equity, 9 debt, and 6 hybrid mutual funds, and the rest are ETFs, and solution-oriented funds. Investors can explore the details of LIC MF programs, compare historical performance, and select the best-suited mutual funds according to their investment objectives, risk tolerance, and preferences.
Investing in the best LIC Mutual Funds or any other top-performing mutual fund is quick and simple with Bullsmart. One needs to follow the steps provided below:
1. Sign in to the Bullsmart app using your mobile number and validate it with an OTP. Then, click on "Open Account for Free" and complete the KYC process by entering your PAN number, date of birth, and additional details such as gender preference, marital status, occupation, income, Source of Wealth, and trading preference.
2. Choose your bank and enter bank account details including IFSC code and account number. Once entered, verify the details.
3. Share the required documents via DigiLocker. Enter your Aadhar number, captcha code, and the OTP sent to your registered mobile number. Finally, enter the 6-digit DigiLocker PIN to complete the KYC process.
4. Add a photo and e-signature to finalise the process.
5. If desired, add a nominee, click on submit and you're all set to start your investment journey with Bullsmart.
In order to help you become a smart investor with Bullsmart, we've simplified the entire process just for you. To get started, ensure you have the following essential documents at hand: