LIC Mutual Fund Trustee Company and LIC Mutual Fund Asset Management (LIC MF) have entered into a joint venture with Nomura Asset Management Company, pursuant to Nomura having acquired 35% of the fully paid-up equity share capital of both LIC MF AMC and the Trustee Company.
LIC Mutual Fund Trustee Company has now been renamed LIC Nomura Mutual Fund Trustee Company, while LIC Mutual Fund Asset Management Company will now be known as LIC Nomura Mutual Fund Asset Management Company.
LIC Nomura Mutual Fund Asset Management Company chairman TS Vijayan said this partnership will help the investors in LIC’s Mutual Fund as they will get the benefit of the expertise and global experience of Nomura along with the well established trustworthiness of the LIC name.
Nomura said, going forward, it will provide and procure for LIC Nomura MF AMC its expertise on various matters such as structuring the nature and standards of operations for risk management, equity/debt/investment research, information technology operations, compliance and distribution of LIC NOMURA MF AMC’s products to overseas investors to enhance the customer base.
