Question : Which mutual fund investment company has appointed Navneet Munot as MD & CEO ?
(a) HDFC Mutual Funds
(b) SBI Mutual Funds
(c) IDFC Mutual Funds
(d) LIC Mutual Funds
Answer (a)
Related facts
- HDFC Mutual Funds has recently(November 2020) announced the name of Navneet Munot as MD & CEO.
Successor
- He will be the successor of Milind Barve.
- Milind Barve, has been MD and CEO of HDFC AMC since inception in 2000.
Past Position
- Munot was earlier chief investment officer (CIO) at SBI Mutual Fund.
Change of management : Background
- SBI Mutual Fund overtook HDFC AMC to become India’s largest asset manager in the fourth quarter of financial year 2019-20.
- SBI MF has many senior fund managers and a good second rung. In case of HDFC AMC, the fund house has been hiring managers from other AMCs such as Gopal Aggarwal recently from DSP Mutual Fund.
- Key schemes of HDFC AMC have lagged their peers in the recent years prompting speculation of changes in the senior management at the fund house.
By — Pankaj Pandey.
Link:
https://www.livemint.com/companies/people/navneet-munot-departs-sbi-mf-to-become-md-and-ceo-at-hdfc-mutual-fund-11605516693442.html
https://economictimes.indiatimes.com/mf/mf-news/navneet-munot-to-join-hdfc-mutual-fund-as-ceo/articleshow/79254786.cms