News From Press Being small no bar for high CEO remuneration in mutual funds

Being small no bar for high CEO remuneration in mutual funds

Source: TOI May 4, 2018

Being small hasn’t stopped fund houses from paying fat salaries to their top executives. Invesco Mutual Fund (MF), Kotak Mahindra MF and IDFC MF are paying higher remuneration to their CEOs compared to their much larger peers.
In fact, Saurabh M Nanavati, CEO of Invesco MF, is the second highest paid CEO in the industry in terms of fixed compensation despite the fund house being ranked quite low in the assets under management (AUM) sweepstakes. Saurabh took home Rs 7.5 crore as salary in 2017-18.

Invesco’s average AUM stood at only Rs 26,203 crore in the fourth quarter (Q4) of 2017-18 (FY18).

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