LIC Mutual Fund: Reinventing itself

It was the public sector that flagged off the first set of mutual funds in India, with UTI's debut in 1964 followed by SBI Mutual Fund in 1985. Amid hectic consolidation and entries and exits by private-sector players and foreign asset-management companies, some of the original public sector-sponsored asset-management companies have stood the test of time. They have survived the last two decades, with their many ups and downs for the markets and changing investor preferences, by re-inventing themselves to keep up with the times.