Mr. M. R Mayya, well-known finance professional and former Executive Director of Bombay Stock Exchange (BSE) has been appointed as an Independent Director on the Board of L&T Mutual Fund Trustee Limited w.e.f 17th May 2010.
Mr. M. R Mayya, an M.A. in Economics from Madras University was also Founder Chairman of BOB Capital Markets for 10 years till 2006. After completing M.A, he entered into the Indian Economic Service in July 1958, and served about 18 years in the Forward Markets Commission regulating Commodity Markets. Mr. Mayya joined the Stock Exchange division of the Ministry of Finance regulating Stock Markets in February 1973. He became the Head of Stock Exchange division in August 1978. He joined Bombay Stock Exchange as an Executive Director in August 1983 and after working for about 10 years, he retired in August 1993.
With his vast knowledge and experience, Mr. Mayya was appointed as the Member of the Rating Committee of CARE for over 14 years till January 2008. He has also been Director of various Companies.
Commenting on Mr. Mayya joining the Trustee company, Mr. N Sivaraman Sr VP L&T Finance, the sponsor of L&T Mutual Fund Trustee Limited said, “We are proud to have Mr. Mayya, a legend in the financial Services in India on the Board of L&T Mutual Fund Trustee Limited. His guidance will be valuable to us in building a robust mutual fund business”.
L&T Mutual Fund manages 11 equity schemes and 11 debt schemes.
About L&T Mutual Fund:
L&T Mutual Fund is one of the premier mutual funds in the country managing assets over Rs 5000 crores as on 30th April 2010. With proficient investment management practices and an equally competent fund management team, L&T Mutual Fund helps its investors reach their financial goals
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L&T Mutual is backed by one of the most trusted and valued brands, L&T Finance – incorporated as a Non Banking Finance Company in November 1994.L&T Finance has earned the trust of thousands of investors by adapting well to the changing marketing dynamics and emerging as a profitable venture despite the turbulences in the Financial market over the past few years.
L&T Mutual Fund is present across 37 cities through its network of dedicated branches and is continuously increasing its footprints across the country.
Statutory Details: L&T Mutual Fund has been established as a trust under the Indian Trust Act, 1882 by L&T Finance Limited, Sponsor/Settler (liability restricted to the seed corpus of Rs. 1 lakh) with L&T Mutual Fund Trustee Limited as the Trustee Company and L&T Investment Management Limited as the Investment Manager.
Risk Factors: All investments in Mutual Funds and securities are subject to market risks and the NAV of the Schemes of the Fund may go up or down depending upon the factors and forces affecting the securities market. Investment in Mutual Fund units involves investment risks such as trading volumes, settlement risk, liquidity risk, default risk including the possible loss of principal. Past performance of the Sponsor/AMC/Mutual Fund does not guarantee future performance of the Schemes. The Sponsor is not responsible or liable for any loss resulting from the operation of the Schemes beyond the initial contribution of Rs. 1 lakh made by it towards setting up the Fund. The names of the Schemes/Plans do not in any manner indicate either the quality of the Schemes or its future prospects and returns; and are only the name of the Schemes/Plans. There can be no assurance that the objectives of the Schemes/Plans/Mutual Fund will be achieved. Schemes specific risk factors: Investment in the Schemes shall be subject to various risks including but not limited to risk associated with: Investment in Equity and Equity related Instruments & Bonds such as Performance Risk, Credit Risk, Reinvestment Risk, Interest Rate Risk, Investment in Derivatives, Securitised Debt, etc. Please read the Scheme Information Document and Statement of Additional Information carefully before investing.