INSUBCONTINENT EXCLUSIVE:
HDFC Mutual Fund on Monday (November 16) informed the stock exchanges that its Board of Directors has approved the appointment of Navneet
Munot as the next Managing Director and CEO of the company
Navneet Munot, who was the chief investment officer of SBI Funds Management, will succeed HDFC Mutual Fund's long-time Managing Director and
HDFC Mutual Fund's Board of Directors approved the appointment at its meeting held today, according to a regulatory filing by HDFC AMC.SBI
Funds Management, in a separate statement, said that Munot has decided to leave the organization to pursue other opportunities
The fund management structure at SBI Funds Management will continue to remain the same, the statement added."Navneet has been part of this
team of skilled and experienced senior fund managers and has overseen many of their achievements
We value his contribution to the organization and wish him the best in all his future endeavours," said Vinay Tonse, SBI Funds Management
MD and CEO. SBI Funds Management is the largest fund house in the country, managing assets of over Rs 4.5 lakh crore, while HDFC MF has an
asset base of Rs 3.75 lakh crore.On November 14 in a special Muhurat session, HDFC Asset Management Company Ltd settled at 2.02 per cent
higher at Rs 2452.35 apiece on the BSE.
