AMFI is holding its annual general board meeting on August 27, said sources.
In the AGM, members will elect the new board of directors since 1/3rd of AMFI board is due to retire by rotation.
The following Directors are due to retire and are eligible for re-election – Category A (Nimesh Shah and Nilesh Shah), Category B (Kailash Kulkarni) and Category C (Anthony Heredia).
A source said that Radhika Gupta, CEO, Edelweiss MF is expected to be elevated to Category B due to increase in average AUM of the fund house last Fiscal. Hence, there will be two vacancies for the Category C effectively.
Sources privy to the development told Cafemutual while Anthony Heredia has filed for reappointment, Jimmy Patel has filed his nomination to be elected as AMFI board member.
Sources say that Directors normally nominate themselves for an extension but the board will have an election if new members apply for the post of Director. AMFI circulates the agenda of the meeting which includes the list of nominees for election of new Directors on board a few weeks before the AGM.
Currently, there are 15 members in AMFI board of which seven are from top ten fund houses and four each from mid and small sized AMCs. The board comprises 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.
Sources said that SEBI Chairman Ajay Tyagi will address fund officials during this meeting.
