Background: Life Insurance Corporation of India set up LIC Mutual Fund in June 1989. LIC Mutual Fund was constituted as a Trust in accordance with the provisions the Indian Trust Act, 1882. This trust has appointed Jeevan Bima Sahayog Assets Management Company Limited. as the Investment Managers for LIC Mutual Fund in April 1994.
The fund house manages assets worth Rs 28598.76 crore at the end of May 2009. LIC MF Equity Fund (G) is an open-ended equity diversified scheme launched in January 1993.
The objective of the scheme is to obtain maximum possible capital growth consistent with reasonable level of safety and security by investing mainly in equity.
The minimum investment amount is Rs.2000 and in multiples of Rs.1000 thereafter. The unit NAV of the scheme was Rs 21.17 per unit as on 18 June 2009.
Portfolio: The total net assets of the scheme increased by Rs 23.19 crore at Rs 96.39 crore as on May 2009.
LIC Equity Fund (G) took fresh exposure to three new stocks in May 2009. The scheme has purchased 24999 units (5.67%) of Housing Development Finance Corporation, 38397 units (1.20%) of GAIL (India) and 87950 units (0.95%) of Gujarat Alkalies & Chemicals.
The scheme exited completely from Steel Authority of India by selling 1.50 lakh units (2.24%), Mahindra & Mahindra Bank by selling 6975 units (0.46%) and Alphageo (India) by selling 15968 units (0.22%) in May 2009.
Sector-wise, the scheme took fresh exposure in Finance-Housing at 5.67% and Chlor Alkali/Soda Ash at 0.95% in May 2009.
Sector-wise, the scheme exited completely from Steel-Large at 2.24% and Automobiles-Tractors at 0.46% in May 2009.
The scheme had highest exposure to Bharat Heavy Electricals with 25000 units (5.64% of portfolio size) followed by Larsen & Toubro with 38286 units (5.58%), Jaiprakash Associates with 2.15 lakh units (4.63%) and NTPC with 1.77 lakh units (3.98%) among others in May 2009.
It reduced its exposure from State Bank of India by selling 25018 units to 10000 units (by 4.17%), ICICI Bank to by selling 58999 units to 40000 units (3.39%), Bank of India by selling 1.04 lakh units to 50001 units (3.23%) and Infrastructure Development Finance Company by selling 1.99 lakh units to 45000 units (1.98%) among others in May 2009.
Sector-wise, the scheme had highest exposure to Power Generation and Supply at 10.06% (from 9.80% in April 2009), followed by Refineries at 6.73% (6.89%), Banks-Private Sector at 6.70% (9.33%) and Banks-Public Sector at 5.78% (14.35%) among others in May 2009.
Sector wise, the scheme had reduced exposure from Banks-Public Sector to 5.78% (by 8.57%), Banks-Private Sector to 6.70% (by 2.63%), Finance & Investments to 1.84% (by 1.81%) and Aluminium and Aluminium Products to 0.15% (by 0.57%) among others in May 2009.
Performance: The performance of scheme is benchmarked against BSE Sensex. The scheme has underperformed the benchmark index over most of the time periods.
The scheme has posted returns of 20.06% outperforming the BSE Sensex that slipped 0.13% over 1 month period ended 18 June 2009.
Over 3 months period, the scheme advanced by 54.48% underperforming the benchmark index that gained 58.92%. It fell 5.66% less than the benchmark index that declined by 7.50% over 1 year period.
The fund house manages assets worth Rs 28598.76 crore at the end of May 2009. LIC MF Equity Fund (G) is an open-ended equity diversified scheme launched in January 1993.
The objective of the scheme is to obtain maximum possible capital growth consistent with reasonable level of safety and security by investing mainly in equity.
The minimum investment amount is Rs.2000 and in multiples of Rs.1000 thereafter. The unit NAV of the scheme was Rs 21.17 per unit as on 18 June 2009.
Portfolio: The total net assets of the scheme increased by Rs 23.19 crore at Rs 96.39 crore as on May 2009.
LIC Equity Fund (G) took fresh exposure to three new stocks in May 2009. The scheme has purchased 24999 units (5.67%) of Housing Development Finance Corporation, 38397 units (1.20%) of GAIL (India) and 87950 units (0.95%) of Gujarat Alkalies & Chemicals.
The scheme exited completely from Steel Authority of India by selling 1.50 lakh units (2.24%), Mahindra & Mahindra Bank by selling 6975 units (0.46%) and Alphageo (India) by selling 15968 units (0.22%) in May 2009.
Sector-wise, the scheme took fresh exposure in Finance-Housing at 5.67% and Chlor Alkali/Soda Ash at 0.95% in May 2009.
Sector-wise, the scheme exited completely from Steel-Large at 2.24% and Automobiles-Tractors at 0.46% in May 2009.
The scheme had highest exposure to Bharat Heavy Electricals with 25000 units (5.64% of portfolio size) followed by Larsen & Toubro with 38286 units (5.58%), Jaiprakash Associates with 2.15 lakh units (4.63%) and NTPC with 1.77 lakh units (3.98%) among others in May 2009.
It reduced its exposure from State Bank of India by selling 25018 units to 10000 units (by 4.17%), ICICI Bank to by selling 58999 units to 40000 units (3.39%), Bank of India by selling 1.04 lakh units to 50001 units (3.23%) and Infrastructure Development Finance Company by selling 1.99 lakh units to 45000 units (1.98%) among others in May 2009.
Sector-wise, the scheme had highest exposure to Power Generation and Supply at 10.06% (from 9.80% in April 2009), followed by Refineries at 6.73% (6.89%), Banks-Private Sector at 6.70% (9.33%) and Banks-Public Sector at 5.78% (14.35%) among others in May 2009.
Sector wise, the scheme had reduced exposure from Banks-Public Sector to 5.78% (by 8.57%), Banks-Private Sector to 6.70% (by 2.63%), Finance & Investments to 1.84% (by 1.81%) and Aluminium and Aluminium Products to 0.15% (by 0.57%) among others in May 2009.
Performance: The performance of scheme is benchmarked against BSE Sensex. The scheme has underperformed the benchmark index over most of the time periods.
The scheme has posted returns of 20.06% outperforming the BSE Sensex that slipped 0.13% over 1 month period ended 18 June 2009.
Over 3 months period, the scheme advanced by 54.48% underperforming the benchmark index that gained 58.92%. It fell 5.66% less than the benchmark index that declined by 7.50% over 1 year period.
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