LIC Mutual Fund (LIC MF) has appointed Nikhil Rungta as Co-Chief Investment Officer – Equity (Co-CIO) with effect from 19th June 2024.

Mr Rungta’s appointment assumes significance as the Co-CIO is key personnel for schemes run by the Asset Management Company. He has over 16 years of experience in the equity and capital markets segment at reputed financial organizations. Mr Rungta holds an MBA (Finance) from Mumbai’s prestigious Narsee Monjee Institute of Management Studies and is a qualified Rank Holder Chartered Accountant. He is also a trained Financial Risk Management professional having certification from the Global Association of Risk Professionals, USA.

Prior to this appointment, Mr Rungta has served as Equity Fund Manager – SBI Pension Funds. He also held various senior investment management roles such as Chief Investment Officer - Golden Myriad (Garware Group Family Office), Co-Fund Manager and Research Analyst - Nippon India Mutual Fund, Investment Manager and Research Head – BFSI - Bajaj Allianz Life Insurance Company, Lead Analyst – BFSI - Anand Rathi Shares & Stockbrokers, Equity Research Analyst - Standard Chartered Securities (India), and Equity Research Analyst - Religare Capital Markets.

Commenting on the appointment, Mr. Ravi Kumar Jha, Managing Director, and Chief Executive Officer, LIC Mutual Fund Asset Management Limited said: “We are happy to announce the appointment of Mr Nikhil Rungta as Co-Chief Investment Officer – Equity and he brings with him profound knowledge of equity research and capital markets operations. He joins LIC MF at a time when the MF industry is seeing record fund inflows and higher levels of retail participation. We hope that Mr Rungta’s leadership role will fetch rich dividends and lead the company to remarkable heights.”

LIC MF currently has a portfolio of 39 schemes (14 Equity, 9 Debt, 5 Hybrid, 1 Solution Oriented Scheme, 10 ETF & Index Fund) and 7.07 lakh folios.

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