Finance

LIC-Nomura MF expects G-Sec ETF AUM to touch Rs 1K-cr in 1 year

Mumbai: LIC Nomura Mutual Fund is looking at garnering Rs 1,000 crore of assets from its G-Sec ETF, launched last December, over the next one year.

LIC-Nomura MF was the first AMC to get Sebi approval and launched the open-ended G-Sec ETF last December.

SBI MF and Reliance AMC are planning to come out with similar products but are yet to get regulatory clearance for the same.

“We expect the size of our G-Sec ETF, which is currently having a size of Rs 75 crore, to go up and touch Rs 500-1,000 crore in next six months to one year,” LIC Nomura MF director and chief executive Sarojini Dikhale said.

Speaking about the company’s strategy to achieve this ambitious target, she said, “The fund house is pitching this product to all set of investors like insurance companies, banks, corporates, FPIs and also retail investors as this being an exchange traded fund.”

The company has recently launched one ETF variant of the fund and has plans to launch four more variants.

“We’ve just launched an equity ETF variant on November 2 and planning to launch four more variants,” Dikhale said.

LIC Nomura MF ETF CNX Nifty, launched on November 2, will close on November 16 and the fund house plans to mop up Rs 200 crore through its new open-ended exchange traded fund.
[“source -Zeenews”]

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