LIC Mutual Fund (LIC MF) has expanded its footprint in Tamil Nadu with the launch of a new branch in Salem, strengthening its efforts to make mutual fund investing more accessible to investors across the region. The branch was inaugurated by Ravi Kumar Jha, Managing Director & Chief Executive Officer, LIC Mutual Fund Asset Management Limited.
Tamil Nadu continues to remain a key mutual fund market in India, recording an average industry Assets Under Management (AUM) of ₹3.73 lakh crore. Salem, a major commercial and industrial centre, has an industry AUM of ₹8,064 crore, supported by 598 mutual fund distributors. LIC Mutual Fund has an AUM of ₹120.42 crore in Salem, with 2,824 investors and 229 distributors.
Commenting on the launch, Ravi Kumar Jha said, “The Salem branch marks an important step in strengthening LIC Mutual Fund’s presence in Tamil Nadu and expanding access to mutual fund investing in the region. With 2,824 investors and a network of 229 mutual fund distributors, Salem offers a strong foundation for deeper investor engagement.”
The new branch will offer investor services, transaction support, investment assistance and financial awareness initiatives, while also strengthening engagement with distribution partners. It will serve investors across Salem and neighbouring districts.
LIC Mutual Fund’s Pocket SIP initiative further supports its objective of enabling wider participation through affordable investment options. Investors can start with Daily SIPs of ₹100, Weekly SIPs of ₹150, Monthly SIPs of ₹200 and Quarterly SIPs of ₹1,000. Nearly 2 lakh Pocket SIPs have been initiated to date.
With the Salem expansion, LIC Mutual Fund aims to strengthen investor relationships and encourage greater awareness and participation in disciplined, long-term investing.