New Delhi: Aditya Birla Sun Life AMC managing director and chief executive A Balasubramanian has been appointed as chairman of mutual fund industry body AMFI, an official release informed on Monday.


Radhika Gupta, managing director and chief executive officer of Edelweiss AMC, was elected as the vice-chairperson of AMFI.


The decisions were taken by the Association of Mutual Funds in India (AMFI) at its board meeting on Monday.


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Balasubramanian will succeed Nilesh Shah, managing director of Kotak Asset Management Company (AMC), while Gupta has replaced Invesco Asset Management (India) Pvt Ltd's CEO Saurabh Nanavati.


Earlier, Balasubramanian was the chairman of the valuation committee, while Gupta was chairperson of the ETF committee.


"Mr. A Balasubramanian has been elected as the Chairman of Association of Mutual Funds in India (AMFI), at the recently concluded Board Meeting of AMFI. Mr. Balasubramanian is Chief Executive Officer Aditya Birla Sun Life Asset Management Co. Ltd. He has earlier served as the AMFI Chairman for the period 2017 – 2019 and now would continue to hold the office till the conclusion of the next AGM," the official statement read. 


A Balasubramanian is also appointed as the ex-officio Chairman of AMFI Financial Literacy Committee, being the Chairman of AMFI, it informed.


Besides this, it was further stated that "Mr. Nilesh Shah (Group President and Managing Director, Kotak Mutual Fund) is elected to be the Chairman of AMFI Valuation Committee. Ms. Radhika Gupta has been re-elected as Chairperson of AMFI ETF Committee. Mr. Sanjay Sapre (President, Franklin Templeton Asset Management (India) Private Limited.) has been re-elected as the Chairman of AMFI Operations & Compliance Committee".


"Mr. Vishal Kapoor (Chief Executive Officer, IDFC Asset Management Co. Ltd.) has been elected as the Chairman of AMFI Standing Committee of Certified Distributors (ARN Committee)," the release added.


AMFI was incorporated on August 22, 1995, as a non-profit organisation. As of now, all the 45 asset management companies that are registered with SEBI, are its members.