UTI Asset Management Company chairman and managing director U K Sinha has been appointed as the chairman of the Association of Mutual Funds in India (AMFI), an industry body of the mutual funds. Sinha will replace present chairman A P Kurian.
The board of AMFI has also appointed HDFC Mutual Fund managing director Milind Barve as the vice-chairman of AMFI.
In a press statement released on Tuesday, AMFI said that U K Sinha, Milind Barve would bring with them vast experience in the financial services sector in general and mutual fund Industry in particular.
On his appointment, Sinha said “The mutual fund industry is at the cusp of transformation and we have challenging times ahead. My priority will however, centre around investors and investor servicing”.
Milind Barve, the newly appointed vice-chairman of AMFI, said, “Mutual funds as an asset class are genuine wealth creators for a large number of retail investors. On a long-term basis, mutual funds give investors much better returns than other investment products”.
In February, AMFI appointed H N Sinor as its chief executive officer.
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