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LIC MF Arbitrage Fund Reviews

LIC profit plus mutual fund is a huge loss
Dec 16, 2013 05:18 PM6116 Views

Never invest in LIC profit plus mutual fund based policy. I paid Rs.50, 000 for 2 years(Rs.25000 each year) and I got back Rs.43, 000 after 5 years duration at the time of surrender.


It should return minimum 1 lakh, if it was a fixed deposit for 5 years. The manager said the policy was foreclosed 1 year back and the money was kept idle.


Meerut, India India
Cheating In LIC MF by forging signatures
Feb 07, 2012 03:54 AM8440 Views

I invested about 8 lacks Rupees in LIC MF Bond Fund D, in July 2000, These people first stop dividend, regional office Kanpur did not reply my letter 26/6/2004 the fund was the redeem, and these people reinvested this money on 29/6/2004 in another plan as MIP G without asking me.


This money was not sent to me but LIC mf sent this to Bank of India Kanpur and have six demand draft of redeemed amount, fill a form of MIP, forged my signature, and thus my investment was shifted in the control of Agent of LIC mf,


Ultimately the amount was shifted to infra structure by forged signature with the help of registrar KARVY COMPUTERSHARE and Agents who are not known to me even.


they were supposed to send statement of account for every change but they did not send it.


I have documentary evidence this type of forgery is done with several hundred of investors,


LIC mf people instigate AGENTS to forge the signatures against handsome commission to Complete their target.


I could not understand how KARVY COMPUTERSHARE is involved.


I have made complaint to police, which has been transferred to EOW( criminal branch of CID)


The people of LIC mf, Karvy, and Agent will have to face criminal trial


Present status is LIC has terminated the AGENTS involved after the report of enquiry commission.


This forgery are done on my six folios, the LIC mf has paid as per act 53 c of SEBI. But not aishwaryasingh23ing for another folios .


This is my warning to all investors to withdraw your investments now otherwise


I have all documentary evidence It is in doc format could not upload


I can send on demand E mail ID dr_akgarg@hotmail.com


Dr. A K Garg


Meerut


Delhi India
LIC Policy; LIC Scam
Nov 28, 2011 09:27 PM7318 Views

Humble citizen of this country please be very careful with LIC and its agent. Gone are the days when LIC was an example in Indian Financial System, but today it is leader in duping people specially old senior citizens of their hard earned money.


LIC agents are the top shots in telling all lie and trying to sell most dirty LIC policy. You today compare any LIC policy/Mutual fund and see its performance for last five years. LIC is cashing on the trust of people which soon will not exist and trying loot as much as possible. LIC closes its policy in the 3rd year or 4th year of its launch and the investor had to finally accept what they get in 5th year onwards or the dirt rated annuity if you opt for pension fund.


Be careful. If you need any further info you can contact me. Self is telling all above from experience who had faith in LIC agents and its policy. Be careful with your hard earned money. Keep away from LIC


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Try this in inflationary times
Jun 05, 2008 05:23 PM8876 Views

In the present Indian scenario where inflation rates are touching the harsh 8-9% marks, it is the basic need for common man to have a kind of investment portfolio which offers compatible returns, low risk and high liquidity. After spending lot of time sifting thru hundreds of mutual funds on a variety of relevant websites, I could finally zero-down on LIC Floating Rate Fund - Short Term Plan offered by LIC Mutual Fund AMC.


I found this to be rather suitable for a risk-averse and yet higher returns seeking person like me. It is a debt-oriented fund with no entry/exit load and no lock-in period. Minimum investment was Rs. 5000/-. I have been holding this since last three months and found it to be giving almost consistent 8% post-tax returns, almost compatible to the inflation rates. I finally concluded to park my savings account money in this fund to earn 8% instead of 3.5%, with almost similiar liquidity.


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