LIC says not exiting LIC Nomura Mutual Fund

MUMBAI: Life insurance major LIC today said it has no plans of exiting LIC Nomura Mutual Fund Asset Management Company as well as reducing its holding in LIC Housing Finance.

"We are neither contemplating nor do we intend to review our present position in relation to LIC Nomura Mutual Fund Asset Management Company or LIC Housing Finance. The media reports yesterday to the contrary are speculative and do not represent the facts," LIC said in a release issued here.

The company said there have been media reports that said LIC of India is likely to exit LIC Nomura Mutual Fund Asset Management Company and also reduce its holding in LIC Housing Finance.

The insurance company is a sponsor of LIC Nomura Mutual Fund Asset Management Company since 1989 when it was known as LIC Mutual Fund.

LIC of India reiterates its commitment to LIC Nomura Mutual Fund Asset Management Company and LIC Housing Finance, it said.