LIC Pension Fund completes two years
LIC Pension Fund Ltd. approved by PFRDA to manage pension funds under NPS,was the first company to be incorporated in India as a public limited company on 21st November 2007. The Fund has now completed two years since its incorporation. The company began its investment management operation in the first year with 5% allocation of funds of government employees in NPS, which has increased to 29% in the financial year 2009-10.Dr.H.Sadhak, CEO of the company is quite optimistic about the future growth of pension fund industry in the country,which in the next 10 years will emerge as the leader in the financial market. LIC PEnsion Fund would maintain its track record of good performance and would be playing a very important role with its focus on the fund management efficiency,prudent person rule and complete compliance of regulatory requirements.
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