LIC exposure to adani group is under 1% of AUM
- January 31, 2023
- Posted by: OptimizeIAS Team
- Category: DPN Topics
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LIC exposure to adani group is under 1% of AUM
Subject : Economy
Section: Financial market
Concept :
- India’s largest insurer LIC on Monday (30 January) said that its exposure in the Adani Group is just 0.975 per cent of its total assets under management (AUM) at book value.
- The statement by LIC comes amid reports about LIC’s exposure to Adani Group, which is mired in controversy after US-based short seller Hindenburg Research released a report.
Assets under management (AUM)
- It measures the total market value of all the financial assets which a financial institution manages on behalf of its clients and themselves.
- AUM is an indicator of the size and success of a given fund house.
About LIC
- LIC stands for Life Insurance Corporation of India, it is a governmental organization established in the year 1956.
- LIC is actually an insurance and investment organization that was invented from the Life Insurance Act of India (Statutory Body).
- The aim of LIC is to provide the citizens of India with a larger return on their economic security.
- The services and products offered by the LIC are comparatively good than the other investment companies in the market. Through LIC all the citizens can get a quality life with assured economic development.
- LIC is fully owned by the government.
- LIC has equity investments worth over ₹10 trillion, while its total assets under management are valued at around ₹41 trillion (Approx) as on 2022.