LIC Mutual Fund has appointed Nikhil Rungta as Co-Chief Investment Officer – Equity (Co-CIO) effective from June 19, 2024. With over 16 years of experience in equity and capital markets, Nikhil Rungta brings a wealth of expertise from his tenure at esteemed financial institutions.
Before joining LIC Mutual Fund, Nikhil Rungta served as Equity Fund Manager at SBI Pension Funds. His career includes significant roles such as Chief Investment Officer at Golden Myriad (Garware Group Family Office), Co-Fund Manager and Research Analyst at Nippon India Mutual Fund, and Investment Manager and Research Head at Bajaj Allianz Life Insurance Company. His journey in equity research began with positions at Anand Rathi Shares & Stockbrokers and Religare Capital Markets, where he contributed as a Lead Analyst and Equity Research Analyst respectively.
Commenting on the appointment, Ravi Kumar Jha, Managing Director and CEO of LIC Mutual Fund, expressed optimism about Nikhil Rungta’s leadership, citing his deep knowledge of equity research and capital markets operations. This appointment comes at a time of robust growth in the mutual fund industry, characterized by record fund inflows and increased retail participation.
LIC Mutual Fund manages a diverse portfolio of 39 schemes, comprising 14 equity funds, 9 debt funds, 5 hybrid funds, 1 solution-oriented fund, and 10 passive funds (ETF and Index funds), serving approximately 7.07 lakh folios. Established in April 1994, LIC Mutual Fund oversees assets worth Rs 32,973 crore as of May 2024.
The appointment of Nikhil Rungta as Co-Chief Investment Officer – Equity underscores LIC Mutual Fund’s commitment to enhancing its investment management capabilities and delivering value to investors in the evolving financial landscape.
