India`s largest insurer Life Insurance Corporation of India (LIC) has invested over Rs 140 billion in liquid funds of various fund houses,
This is comes as a relief to cash-strapped mutual funds (MF), which are reeling under redemption pressure on liquid and fixed maturity plans (FMP). This investment is almost three times more than around Rs 45 billion in such schemes last year. This investments can yield returns upto 12%.
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Now those private MF scammers can have a party with the hard-earned money of the public sector institution. LIC got it's meager assets through a tight-belted and disciplined hard work. Now you can see the 140 bn dissappear within no time. LIC has no right to gamble with it's assets.
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