Reliance Capital today said it has elevated chief investment officer of its mutual fund arm Sunil Singhania as a global head of the company's equity business.
Reliance Capital today said it has elevated chief investment officer of its mutual fund arm Sunil Singhania as a global head of the company's equity business.
Manish Gunwani will be the new CIO for equity division at Reliance Nippon Life Asset Management (RNAM), better known as Reliance Mutual Fund.
Singhania will move into the new role from September 1, 2017, till which time he will continue in his present role of CIO -- equities -- of Reliance Mutual Fund. Gunwani would also join the company from the same time.
In his new role, Singhania would be responsible for expanding equity business of Reliance Capital, across life insurance, offshore funds, Alternative Investment Fund (AIF) and wealth management.
Besides, he would provide broad strategic inputs to portfolio managers within the scope of the existing regulatory framework.
"Given Sunil's deep understanding of Indian equity markets and his wide global relationships, we look forward to his enhanced contribution across the full spectrum of our investment related businesses to realise these exciting opportunities," Reliance Capital Vice Chairman Amitabh Jhunjhunwala said.
Gunwani, who has over 20 years in fund management and equity research, had earlier worked with ICICI Prudential Mutual Fund, where he served as Deputy CIO equity and managed assets of more than Rs 35,000 crore.
"Mutual funds have provided an ideal platform for investors to participate in India's growth story, and retail participation has been accelerating in recent times.
"With favourable structural reforms and a positive macro-economic outlook, there are great value creation opportunities for investors," Gunwani said.
RNAM currently manages over Rs 3.62 lakh crore including Rs 2.23 lakh crore for mutual funds.
"We are confident that his appointment will further enhance our vision of creating wealth for the people of India and accelerate the growth of RNAM's equity assets," Jhunjhunwala said.
(This article has not been edited by DNA's editorial team and is auto-generated from an agency feed.)
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