Navneet Munot, MD and CEO of HDFC Asset Management, will be the new Chairman of the Association of Mutual Funds in India (AMFI). He was elected to this position in a board meeting following the 28th AGM of the association.
Munot will take over the position from A Balasubramanian, Chief Executive Officer, Aditya Birla Sun Life Asset Management. A chartered accountant and a CFA charter holder, Munot has over three decades of rich experience in financial services.
“I am honoured to assume the responsibilities as AMFI Chairman,” Munot said. “I am hugely excited about the opportunities that lie ahead for the industry. I look forward to collaborating with my industry colleagues and working under the guidance of our regulator SEBI to propel the mutual fund industry to even greater heights.
“Together, we'll strive to enhance the financial well-being of our investors and bring greater prosperity to our nation. For AMFI as an organisation, I look forward to continuing the strong legacy and building on the AMFI 2.0 strategy that has been outlined to strengthen AMFI,” he added.
The Board of AMFI also elected Anthony Heredia, MD and CEO, Mahindra Manulife Mutual Fund as the Vice-Chairman of AMFI, who will take over the position currently held by Radhika Gupta, Chief Executive Officer, Edelweiss Asset Management. Heredia is also a chartered accountant and has over 26 years of experience in the investment management industry.
“I am delighted to step into the role of AMFI Vice Chairman,” said Heradia. “It's an exciting opportunity to contribute to the growth and development of the mutual fund industry in India. I am eager to work collaboratively with our industry partners and stakeholders to chart a path towards achieving the ambitious goal of managing 100 trillion AUM.”
The new Chairman and Vice Chairman will take charge from October 16, 2023.
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