LIC Nomura Mutual Fund, which has witnessed 47 per cent growth in average assets under management (AUM) in the March quarter, is planning to come up with a series of schemes in the new fiscal.
As per the fund house, its average AUM rose 47 per cent in the just-concluded quarter at Rs 10,584 crore over the same period last year.
"High level of growth in average AUM was possible due to better fund management and market-related returns to the investors and NFOs like capital protection-oriented funds, FMPs and RGESS Series 2 targeted at retail investors," LIC Nomura Chief Executive and Director Nilesh Sathe said.
He said the firm would come up with a series of fund launches in the current fiscal to sustain the momentum.
"In the new (fiscal) year the fund house has planned to launch more FMPs, a series of capital protection-oriented funds, RGESS series along with a couple of equity schemes."
The company is a tie-up between India's insurance major LIC and Japanese financial firm Nomura.
