By Our Special Correspondent
LIC Mutual Fund Asset Management Limited opened its first branch in Vijayawada on Monday.
LIC Mutual Fund Managing Director and Chief Executive Officer T.S. Ramakrishna opened an area office near Benzi Circle. Speaking on the occasion, Ramakrishnan said that LIC Mutual Fund has made progress in the region and with the opening of the office, the business can pick up further.
"The branch office at Vijayawada will help further strengthen our presence in Andhra Pradesh and we strive to serve our customers with superior sales and service support along with intensive engagement with our distributors and clients," he said.
He said that LIC Mutual Fund aims to increase acceptance of the mutual fund asset class in more cities in southern states as well as Telugu states.
So far, only four cities in South India, including Hyderabad, Bangalore, Chennai and Coimbatore, are among the top 30 cities in the mutual fund industry, he said.
In the Vijayawada region, LIC Mutual Fund is dealing with assets under management (AUM) of around ₹200 crore, he said.
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