Monday, 9 January 2017

LIC to trim FY17 equity investment to Rs 50k cr, eye fixed income

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Life Insurance Corporation of India (LIC) has reduced its equity investment target for FY17 to Rs 50,000 crore from Rs 60,000 following adverse market conditions. Due to lack of opportunities in a weak equity market, the insurer will invest the surplus money earned from premiums in fixed income papers instead of stocks. Around Rs 28,000 crore has been invested in equities this financial year so far by LIC. The overall investment target is intact but the target for equity investments has been revised downwards by 10-15 percent because of several factors that are currently playing on the market and stopping it from offering enough buying opportunities.

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