LIC Mutual Funds Appoints Dinesh Pangtey as its New CEO

LIC Mutual Funds appoints Dinesh Pangtey, former Director  & CEO of LIC HFL AMC, as its new CEO. Pangtey started his career as a direct recruit officer at LIC in 1984 and elevated through the ranks to attain this principal position.

Pangtey, who holds a Bachelor’s degree in Science, possesses 35 years of rich experience across Private Equity, life, Pension, Group Superannuation Scheme, and Insurance sector. While being the CEO of private equity arm of LIC, Pangtey completed the investment of the maiden fund corpus and achieved exit from four portfolio companies with an IRR of 22 percent and returned 79 percent of the amount drawn from investors. He even strategized the setting-up of new funds under SEBI AIF platform and directly raised 92 percent of the base corpus. The fund is shortly poised to exhaust the green shoe option and close at 1000 cores.

Pangtey has served as a Regional Manager of marketing channel in western zone, spanning the states of Maharashtra, Gujarat and Goa. He has also headed divisions like Jammu & Kashmir, Ahmadabad and Delhi.

Furthermore, post the exit of Saravana kumar as the organization’s CEO, Sachin Ralekar and Marzban Irani have been elevated as CIO of equity and CIO of fixed income respectively. LIC Mutual funds was established in 1989 by LIC of India. Being an associate company of India’s state owned insurance group & investment company, LIC MF is one of the most renowned organizations in the asset management sphere. It practices a systematic investment discipline coupled with high standard financial ethics and corporate governance.