Nandik Mallik of Avendus moves to Axis AMC to spearhead proposed SIF asset class

Nandik Mallik as Head - Equity & Hybrid for Axis AMC's proposed SIFs.

The launch of the new asset class has already begun driving talent shifts from the Alternative Investment Fund (AIF) industry to the mutual fund sector. Nandik Mallik, former Chief Investment Officer of Avendus' Alternate Strategies, has joined Axis Asset Management Company as Head of Equity & Hybrid for Specialised Investment Funds (SIFs), the newly introduced asset class.

In a press release, Axis Mutual Fund highlighted its commitment to tapping into the vast potential of SIFs, a recently notified product category. The company stated that Mallik will lead Axis AMC’s initiatives in this evolving space.

Market discussions suggest that SIFs, which offer the taxation benefits of mutual funds while allowing strategies typically employed by AIFs, have raised concerns among AIF fund managers about the future of their category.

Mallik brings extensive experience in managing large assets across risk-adjusted funds. He previously launched the Long Short Fund at ICICI Prudential AMC. An alumnus of IIT Kharagpur, he holds a PGDM in Finance from IIM Calcutta and a Master’s in Finance from London Business School.

Commenting on Mallik's appointment, B Gopkumar, MD & CEO, Axis AMC said, “Nandik's market knowledge will be key in growing our equity and hybrid offerings in the SIFs space as and when Axis AMC gets an approval on this product category.

Disclaimer: The views and investment tips expressed by investment experts on Moneycontrol.com are their own and not those of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decisions.