Siddhartha Mohanty, the Managing Director and Chief Executive Officer of Life Insurance Corporation of India (LIC), has announced that the corporation plans to invest approximately Rs 1.30 lakh crore in equities during the current financial year.
In the April-June quarter of fiscal 2025, LIC invested around Rs 38,000 crore in shares, compared to Rs 23,300 crore during the same period last year.
As of June 30, 2024, LIC holds investments in 282 companies through their shares.
The Assets Under Management (AUM) grew to Rs 53,58,781 crore by the end of June, up from Rs 46,11,067 crore at the end of the same quarter the previous year, reflecting a 16.22% increase.
Total investments increased by Rs 7,30,662 crore, rising from Rs 42,44,852 crore in March 2023 to Rs 49,75,514 crore by March 31, 2024. The equity investment portfolio now stands at Rs 12,39,740 crore, up from Rs 8,39,662 crore in 2022-23, while other investments have grown to Rs 37,35,774 crore from Rs 34,05,190 crore in the same period.
Update
The Indian government is exploring the creation of its first sovereign wealth fund by consolidating its holdings in publicly traded companies. This new fund could potentially manage assets worth approximately ₹50 trillion. To maintain control, the government is considering issuing non-voting shares and is also exploring the concept of a “golden share,” which would grant certain rights without impacting voting power. Globally, around 40 countries have established sovereign wealth funds to safeguard key assets and enhance infrastructure. Additionally, this fund could boost the efficiency of public sector companies by promoting mergers and reorganizations.
