Mr PGR Prasad, a veteran in the mutual fund industry AMFI passed away.
Former MD of SBI Mutual Fund PGR Prasad passed away today. According to his colleagues, he was ailing for some time now and was suffering from lung infection. Mr Prasad is survived by his wife and two daughters. Mr Prasad was settled in Trivandrum.
Mr PGR Prasad joined SBI Mutual Fund as its MD and CEO in early 2003. His three year term with SBI MF ended in December 2005. Prior to joining SBI, Mr Prasad was the MD of Indo-Nigerian Merchant bank.
“He was a like a father figure for us. He turned around the company, infused professionalism and introduced a lot of positive changes in SBI MF during his tenure. He was instrumental in forming AMFI,” said one of his colleagues at SBI Mutual Fund.
The deal between Société Générale Asset Management to buy 37% stake in SBI was done during Mr Prasad’s tenure. SBI was managing around Rs 5400 crore at that time. He had also launched an offshore fund called Resurgent India Offshore Fund in 2005.
Mr Prasad began his career with SBI Bank as a Probationary Officer in 1970. After retiring from SBI MF, he served as an independent director in J P Morgan Mutual Fund. He was the Director of AMFI till 2006. Till recently he served as the Chairman of V Guard Industries Ltd.
Prasad had a B.Sc in Mechanical Engineering and was a Certified Financial Planner. He was also a Certified Associate of the Indian Institute of Bankers, Chartered Financial Analyst at Institute of Chartered Financial Analysts of India.
