UTI Mutual Fund's managing director Leo Puri was today elected as chairman of Association of Mutual Funds in India (Amfi) for one-year term.
Puri was unanimously elected as the chairman of Amfi in its board meeting held here today.
Puri has replaced Reliance Capital Asset Management president and chief executive Sundeep Sikka, who had been holding the post of Amfi chairman for past two years.
Birla Sun Life Mutual Fund chief executive A Balasubramanian, who is already working as the vice chairman of Amfi for past one year, was retained to the position for one more year.
"The board of Amfi unanimously elected UTI Mutual Fund managing director Leo Puri as its chairman for next one year, whereas Birla Sun Life Mutual Fund chief executive A Balasubramanian will continue to act as vice chairman of the Association for one more year," Reliance Capital Asset Management president and chief executive and outgoing chairman of Amfi, Sundeep Sikka told PTI immediately on conclusion of the board meeting.
When asked if Amtek Auto issue was discussed during the board meeting, Sikka said that "the matter was not discussed during the meeting."
It was also decided in the meeting that now on, all the delegations from Amfi for meeting either regulator or even Finance Ministry officials to discuss the issues relating to the mutual fund industry, will comprise a representative from small fund houses, too, sources said.
