The Managing Director (MD) of Kotak Mahindra Asset Management Co Ltd., Nilesh Shah has been appointed as Chairman of the Association of Mutual Funds in India (AMFI) at its board meeting held in Mumbai, Maharashtra.
- He will replace Nimesh Shah, Managing Director and Chief Executive Officer, ICICI (Industrial Credit and Investment Corporation of India )Prudential AMC, who was appointed to the position in the year 2018.
- The AMFI board has also elected Saurabh Nanavati, Chief Executive Officer, Invesco Mutual Fund as its new vice-chairman.
- Nilesh has over 25 years of experience in capital markets and market related investments.
- At present, there are 15 members in AMFI board of these 7 are from the top ten fund houses and 4 each from mid and small sized AMCs(asset management company).
Association of Mutual Funds in India :
The Association of Mutual Funds in India is an industry standards organisation in India in the mutual funds sector. It was formed in 1995. Most mutual funds firms in India are its members. The organisation aims to develop the mutual funds market in India, by improving ethical and professional standards.