LIC Mutual Fund Asset Management announces appointment of Associate Director
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, Ratnakar Patnaik (DIN: 10283908) has been appointed as an Associate Director on the Board of AMC with effect from November 2, 2026. Accordingly, the following details pertaining to Ratnakar Patnaik stand added under the Section ‘Details of AMC Directors’ in the SAI:
Ratnakar Patnaik (58 Years), holds a Master’s degree in Public Administration. He is a Fellow of Insurance Institute of India and also holds a Diploma in Health Insurance. He was serving as the Associate Director of LIC Mutual Fund Asset Management with effect from November 2, 2026 onwards. Prior to this, he served as the Managing Director of Life Insurance Corporation of India at its Central Office in Mumbai from June 2025 onwards.
Before that, he was the Executive Director of Investment Front Office & Chief Investment Officer – Life Insurance Corporation of India at Central Office, Mumbai from April 2023 to May 2025. He also served as the Chief of Investment, Front Office at LIC’s Central Office, Mumbai from May 2021 to April 2023, as Secretary (CRM) Kolkata Zone & Regional Manager (CLIA) at Life Insurance Corporation of India, Kolkata from May 2017 to May 2021 and as Senior Divisional Manager from Indore & Jamshedpur Divisions from May 2012 to May 2017.
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.
