LIC Mutual Fund (LIC MF) has appointed Nikhil Rungta as Co-Chief Investment Officer – Equity (Co-CIO) with effect from 19th June 2024.
Rungta’s appointment is significant 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. Rungta is also a trained Financial Risk Management professional having certification from the Global Association of Risk Professionals, USA.
Before joining LIC Mutual Fund as Co-Chief Investment Officer – Equity, Nikhil Rungta accumulated extensive experience in senior investment management roles.
He served as Equity Fund Manager at SBI Pension Funds and held positions such as Chief Investment Officer at Golden Myriad (Garware Group Family Office), Co-Fund Manager and Research Analyst at Nippon India Mutual Fund, and Investment Manager and Research Head – BFSI at Bajaj Allianz Life Insurance Company.
His earlier career included roles as Lead Analyst – BFSI at Anand Rathi Shares & Stockbrokers, Equity Research Analyst at Standard Chartered Securities (India), and Equity Research Analyst at Religare Capital Markets, reflecting his diverse expertise in equity research and fund management across various financial institutions.
Commenting on the appointment, 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 Mutual Fund 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.” Ravi added.
LIC Mutual Fund 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.
Rungta holds an MBA (Finance) from Mumbai’s prestigious Narsee Monjee Institute of Management Studies and is a qualified Rank Holder Chartered Accountant.
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