LIC Mutual Fund opens second branch in Mysuru; Target to expand business in tier 2 & 3 cities

Mysuru: LIC Mutual Fund (LIC MF), one of the India’s most trusted mutual fund companies, has opened its second branch in Mysuru.

 

LIC MF Managing Director and CEO Ravi Kumar Jha inaugurated the new branch recently.

 

Mysuru is a culturally rich city located in the south-central part of the state. According to the Association of Mutual Funds in India (AMFI), the assets under management (AUM) of LIC in the region was Rs 8,000 crore as on December 31, 2024. This is 1.17% of the total AUM. The total AUM was Rs 36,209 crore as on February 28, 2025.

 

Karnataka has immense opportunities for the development of mutual fund business. Karnataka ranks fourth in state-wise monthly AUM (AAUM). Karnataka’s AUM as on January 2025 was Rs 4.72 lakh crore. Karnataka has the highest AUM among the five southern states.

 

Speaking on the occasion, LIC MF Managing Director and CEO Ravi Kumar Jha said, “The mutual fund industry is expected to grow in tier-II and tier-III cities of the country, and for this reason, we are expanding our business in Mysuru. We are giving more emphasis to this as Mysore is a hub of knowledge-based industries and educational institutions. The city is also developing culturally. More and more high-income earners and professionals are choosing this city to reside. We aim to provide even better services to the customers here by opening a second branch.”

 

The address of the new branch is; LIC MF Asset Management Limited, No 245, 12th Main Road, 5th Cross, Saraswathipuram, Opposite Javare Gowda Park, Mysuru- 570009.

– Team Mysoorunews