He will take over from Saurabh Jain who resigned from his current role on February 28
Chirag Madia |
Last Updated at March 5, 2022 00:38 IST
Sachin Bansal-backed Navi Mutual Fund (MF) on Friday announced the appointment of Hari Shyamsunder as the chief executive officer (CEO) of the fund house. He will take over from Saurabh Jain who resigned from his current role on February 28.
Shyamsunder is currently the fund manager of Navi asset management company (AMC). While Jain will be moving to another role within the Navi Group where he will lead a new business vertical. Jain is also part of Securities and Exchange Board of India’s (Sebi) advisory committee on MFs.
According to the press release issued by the company, Shyamsunder brings more than 16 years of work experience, with 12 of those years being in the asset management industry. He joined Navi AMC Limited in 2021 after over a decade at Franklin Templeton where he was a co-portfolio manager and research analyst. He is a CFA Charterholder and has a PGDM from IIM Bangalore.
Sachin Bansal, co-founder of the Navi Group said, “I am looking forward to Hari taking charge and continuing the exciting journey of Navi AMC. He is a mutual fund industry veteran with a proven track record in portfolio handling and research. I am confident that Hari will further strengthen our mutual fund business.”
Navi MF has largely focused on offering low-cost passive funds in the last few months. Navi MF had acquired assets of Essel MF in 2021. The data from Association of Mutual Funds in India (Amfi) shows that Navi MF has assets of ~929.59 crore as of December quarter.
Business Standard has always strived hard to provide up-to-date information and commentary on developments that are of interest to you and have wider political and economic implications for the country and the world. Your encouragement and constant feedback on how to improve our offering have only made our resolve and commitment to these ideals stronger. Even during these difficult times arising out of Covid-19, we continue to remain committed to keeping you informed and updated with credible news, authoritative views and incisive commentary on topical issues of relevance.
We, however, have a request.
As we battle the economic impact of the pandemic, we need your support even more, so that we can continue to offer you more quality content. Our subscription model has seen an encouraging response from many of you, who have subscribed to our online content. More subscription to our online content can only help us achieve the goals of offering you even better and more relevant content. We believe in free, fair and credible journalism. Your support through more subscriptions can help us practise the journalism to which we are committed.
Support quality journalism and subscribe to Business Standard.
First Published: Fri, March 04 2022. 18:25 IST