Avendus Capital's Andrew Holland joins Nippon Life to lead new asset class product

The Securities and Exchange Board of India (SEBI) released the final framework for the new asset class, formally known as the Specialized Investment Fund (SIF). The regulator had originally presented the idea of a new asset class in a consultation paper in July 2024.

Market veteran Andrew Holland has joined Nippon Life India Asset Management as Head of the proposed New Asset Class (Specialised Investment Funds), a statement issued by the AMC said on April 7.

At Nippon Life India Mutual Fund, Holland will lead the fund’s expansion into the new asset class space, the release said. "Nippon India Mutual Fund recognizes the significant potential of this proposed new asset class.  This innovative investment avenue bridges the gap between traditional mutual funds and Portfolio Management Services (PMS), offering sophisticated investment alternatives with a minimum commitment of Rs 10 lakh, appealing to high-net-worth individuals (HNIs) seeking greater flexibility," the statement said.

Prior to joining Nippon AMC, Holland, a veteran money manager with over 42 years of experience, has worked across global markets, with his last role being as the CEO of Avendus Capital Public Markets Alternate Strategies LLP, which he joined in 2016. Before Avendus, Holland was with Ambit Investment Advisors as a CEO, DSP Merrill Lynch as Head of Research, followed by roles as Chief Administrative Officer and MD  of the Strategic Risk Group, as well as senior positions at County Nat West, Barclays (BZW) and Credit Suisse.

Capital market regulator Sebi had released the final framework for the new asset class, formally known as the Specialized Investment Fund (SIF). The regulator had originally presented the idea of a new asset class in a consultation paper in July 2024. According to the regulator, the new category aims to bridge the gap between Mutual Funds (MFs) and Portfolio Management Services (PMS). The regulator believes that while over the years, India’s financial market has witnessed an expansion in investment products with varying degrees of risk, complexity, and regulatory oversight, a gap exists between mutual funds and PMS.

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