Nippon Life India AIF appoints Ashish Chugani to lead Alternative Assets business

Mumbai-based Chugani will lead strategic initiatives and business operations for the development and management of NAM India’s AIF business

Nippon Life India AIF Management Limited, a 100% subsidiary of Nippon Life India Asset Management Limited (NAM India), the asset manager of Nippon India Mutual Fund (NIMF) announced the appointment of Ashish Chugani as the Head of Alternative Assets for its AIF business.

With this new role, Mumbai-based Chugani will lead strategic initiatives and business operations for the development and management of NAM India’s AIF business. He will report to Sundeep Sikka, ED & CEO NAM India, in this capacity and will take charge with effect from July 1, 2023. The AIF business is currently led by Shahzad Madon who is attaining superannuation on June 30, 2023.

Chugani has completed his Masters in Commerce from the University of Mumbai and Masters in Business Administration (MBA) from Duke University, USA.

Chugani has over 30 years of experience, working in companies like Tata Capital, Centrum, Citibank, Arthur Anderson, Cambridge Place Investments Management, Ankar Capital Management, and Antfactory to name a few which gave him the experience working across multiple investment asset classes.

Commenting on the development, Sundeep Sikka, ED and CEO of Nippon Life India Asset Management said, "We are delighted to have Ashish on board. AIF is the focus of the company, and we believe his expertise across asset classes would help us grow business both domestically and internationally. We would also like to thank Shahzad Madon for his contribution for his commitment and leadership in leading this business for more than a decade. We wish him the best of luck in his future endeavours.”