In a recent announcement, Navneet Munot, the Managing Director and CEO of HDFC Asset Management, has been elected as the Chairman of the Association of Mutual Funds in India (AMFI). Simultaneously, Anthony Heredia, the Managing Director and CEO of Mahindra Manulife Mutual Fund, has been elected as the Vice-Chairman of AMFI. These appointments come after the 28th Annual General Meeting (AGM) of AMFI held in September.
Navneet Munot, a Chartered Accountant with over three decades of experience in the financial services sector, will officially assume his role as AMFI Chairman on October 16, 2023. He expressed his commitment to building on AMFI’s strong legacy and advancing the AMFI 2.0 strategy, aimed at strengthening the organization and the mutual fund industry as a whole.
Anthony Heredia, also a Chartered Accountant with more than 26 years of experience in the investment management industry, will take over as Vice-Chairman on the same date. He succeeds Radhika Gupta, CEO of Edelweiss Asset Management, in this role. Heredia expressed his enthusiasm for collaborating with industry partners and stakeholders to work towards the ambitious goal of managing 100 trillion AUM (assets under management).
The Association of Mutual Funds in India (AMFI) is a non-profit organization established on August 22, 1995. Its primary objectives are to foster the professional development of the Indian mutual fund industry, maintain ethical standards, and protect the interests of mutual funds and their unit holders. Currently, AMFI has 44 registered Asset Management Companies as its members, all of which are registered with the Securities and Exchange Board of India (SEBI).
Navneet Munot’s election as Chairman and Anthony Heredia’s appointment as Vice-Chairman signal the industry’s commitment to maintaining high standards and fostering professionalism within the mutual fund sector. These seasoned leaders bring a wealth of experience and expertise to their respective roles.
Navneet Munot’s tenure at HDFC Asset Management has seen significant growth and success for the organization. His leadership and vision have played a pivotal role in establishing HDFC Asset Management as a prominent player in the Indian mutual fund industry. As Chairman of AMFI, Munot is expected to contribute to the continued growth and development of the mutual fund sector in India.
Similarly, Anthony Heredia’s extensive experience in the investment management industry positions him well for his role as Vice-Chairman of AMFI. His commitment to expanding the mutual fund industry’s reach and impact aligns with the industry’s goals of enhancing professionalism and serving the best interests of investors.
The leadership transition at AMFI reflects the industry’s dedication to upholding high standards and promoting ethical practices. Navneet Munot and Anthony Heredia’s appointments are seen as positive steps towards advancing the mutual fund industry in India and ensuring its continued success.
