Shyam Kothari had set up India’s first private sector fund house – Kothari Pioneer
Shyam
Kothari, who set up India’s first private sector fund house, Kothari Pioneer Mutual
Fund passed away on Sunday in Houston where he was being
treated for colon cancer. He was also the Chairman and Managing Director, Kothari
Sugars and Chemicals.
“He was a thorough gentleman. Though the Kotharis were in the traditional manufacturing business, he was committed to make it big in the financial services sector. He deserves credit for starting the first private sector fund house,” said Rajan Krishnan, ex-Managing Director & Chief Executive Officer, Baroda Pioneer MF, who worked with Shyam at Kothari Pioneer Mutual Fund.
Other people who had worked at Kothari Pioneer remembered his warmth and maturity. Another industry veteran recalled how Shyam had quietly brought about game changing world standards to India – daily NAVs, open end funds, account statement etc. were first introduced in India by Kothari Pioneer. Later, the fund house which was regarded well for investment performance and innovation was sold to Franklin Templeton.
He was 53 and is survived by Nina Kothari (daughter of late industrialist Dhirubhai Ambani) and son Arjun and daughter Nayanthara.