MUTUAL FUNDS
LIC Mutual Fund Asset Management announces appointment of Associate Director and Independent Director
Sep-16-2025

LIC Mutual Fund Asset Management (AMC) has announced addendum to the Statement of Additional Information (SAI) of LIC Mutual Fund.

LIC Mutual Fund has informed that, Sat Pal Bhanoo (DIN: 10482731) and Sudhir Vishwanathan Nair (DIN: 02556961) have been appointed on the Board of LIC Mutual Fund Trustee (‘Trustee’) with effect from September 12, 2025. Accordingly, the following details pertaining to above appointments stand added under the Section ‘Details of Trustee Directors’ in the SAI:

1) Appointment of Mr. Sat Pal Bhanoo (DIN: 10482731) as an Associate Director on the Board of Trustee. Sat Pal Bhanoo (59 years), holds a Bachelor of Arts (BA) Honours in History. He has been working at Life Insurance Corporation of India since July 2023, till date. Bhanoo served the Corporation in various roles as Zonal Manager (Bhopal) (June 2023 to July 2023), Additional Zonal Manager (Bhopal) (April 2023 to June 2023), Additional Director (Bhopal) (May 2022 to April 2023), Regional Manager (Personnel & Industrial Relations) (Delhi) (May 2021 to May 2022), Chief Marketing/Senior Business Associate (Mumbai) (April 2019 to May 2021), Regional Manager (Micro Insurance), ZO, Delhi (May, 2016 to April, 2019) and Regional Manager (Corporate Communication), ZO, Delhi (May, 2014 to May, 2016).

2)  Appointment of Mr. Sudhir Vishwanathan Nair (DIN: 02556961) as an Independent Director on the Board of Trustee. Sudhir Vishwanathan Nair (58 years), holds a Bachelor of Commerce degree, Fellow Chartered Accountant (FCA) from Institute of Chartered Accountants of India, Diploma in Information Systems Audit (DISA) from Institute of Chartered Accountants of India and Diploma in International Financial Reporting (DIFRS) from Institute of Chartered Accountants of India. His partner is Nipun Sudhir & Associates since February 2005, till date.

This Notice cum Addendum forms an integral part of the SAI of LIC Mutual Fund as amended from time to time. All other contents of the SAI remain unchanged.


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