AMFI has inducted three new faces on its board. In its annual general meeting (AGM) held today in Mumbai, AMFI has reportedly appointed G Pradeep Kumar, Prathit Bhobe and Vishal Kapoor as directors on its board.
Every year, 1/3rd of AMFI board retire by rotation. While two members – Aashish Somaiyaa and Harsha Viji have stepped down from the Board, Jimmy Patel retired from the board. This had created three posts – two in category B and one in category C.
While Prathit Bhobe, CEO, Tata MF and Vishal Kapoor, CEO, IDFC MF join the board in category B, G Pradeep Kumar, CEO, Union MF joins the board in category C.
A Balasubramanaim, CEO, Aditya Birla MF and Kailash Kulkarni, CEO, L&T MF will continue to serve as Chairman and Vice Chairman of AMFI. Similarly, Milind Barve, MD and CEO, HDFC MF and Sanjay Sapre, President, Franklin Templeton MF have been re-elected as directors in Category A.
Currently, there are 15 members in AMFI board of which seven are from the top ten fund houses and four each from mid and small sized AMCs. The AMFI board has representation across three broad categories – category A represents directors from large fund houses (top ten fund houses), category B has directors from mid-sized fund houses and representatives of emerging fund houses fall under category C.
