Asset under management or AUM is the total asset value which is being managed by a particular mutual fund scheme. A greater AUM signifies a larger pool of funds collected from the investors.

The LIC Mutual Fund SIP calculator enables you to get an idea of the estimated returns based on the past performance of the scheme. It helps you to determine the total investment amount over a duration of 1 year, or 3 years, along with the profit percentage.

It is one of the vital things to consider before investing in a mutual fund scheme as it indicates the deductible expenses of a particular mutual fund scheme. It is basically a specific amount charged on your total investment value. Hence, an investor always looks for a mutual fund scheme with a low expense ratio. An expense ratio is levied to meet various AMC expenditures such as the salary of fund managers, the salary research analyst and other scheme-related expenditures.

It is always recommended to set an objective before starting your mutual fund investments. And based on your goals you can determine the duration of your investment. For instance, your investment objective can be to buy a new car in 5 years.

It is the return on investment that the fund has delivered over the years. LIC mutual fund performance is demonstrated in their mutual fund scheme pages. These returns on investments are expressed in an annualised rate of return known as compound annual growth rate (CAGR). Usually, on an AMC page, you will find 1 year, 3 years, 5 years and since inception, CAGR rates are demonstrated graphically.

You can also use the INDmoney app to track the past performance of any scheme that you wish to invest in.

As per SEBI, all the AMC (asset management companies) are mandated to declare the fund's assets under management along with the experience of the fund managers. Therefore it is always recommended to check the fund manager’s experience, academic qualification and the number of funds he or she is managing.

Download the INDmoney app and create your free investment account by completing your KYC ( Know Your Customer).

Once your Free investment account is ready, you can either search for a LIC mutual fund or go to the mutual fund section.

Choose any LIC Mutual Fund by looking at aspects like past returns, volatility, downside capture ratio, AUM, Expense ratios and underlying stocks and sectors.

You can choose to set up SIP in any LIC  Mutual Funds or even invest as lumpSum. Once you are on the individual LIC mutual Fund page click from the bottom “One-time” for lump sum investment or “SIP” for systematic investment plan.

Choose the amount that you want to invest as SIP or LumpSum.

Set up payments. If you choose to set up SIP in any LIC mutual funds, you can do a free automatic pay set up via bank mandate or UPI. If you choose to invest in lumpsum (one-time) then you can pay via UPI, netbanking, NEFT or RTGS.