Sandeep Bagla is new AIG debt head

Sandeep Bagla, former head of fixed income at Principal Pnb Mutual Fund, has been appointed as chief investment officer (fixed income) at AIG Mutual Fund. The fund house, which launched its first equity fund, the AIG India Equity Fund, in May 2007, is yet to launch a fixed income fund.

“These are good times for debt funds at the shorter end. We will be looking at liquid and liquid plus funds to start off with, and gradually increase our debt issuances across the yield curve,” said Bagla, who joined AIG Mutual Fund last Monday.

Bagla is among the most experienced debt fund managers in the market, with more than 13 years in the market. Before joining Principal Pnb MF in November 2004, he was with Reliance Mutual Fund. He has also had stints in the treasuries of ABN AMRO Securities, ICICI Limited and ITC Classic Finance Limited. He is a graduate in economics from Presidency College, Kolkata, and holds a post graduate diploma in management from Xavier Institute of Management, Bhubaneswar.

Meanwhile, AIG Mutual Fund’s existing fixed income CIO Sridhar Narayan is set to take on new responsibilities at the private equities division of AIG Investments.

Saurabh Sonthalia, chief executive officer, AIG Mutual Fund said, “Bagla is one of the leading professionals in the asset management industry with an impressive track record in fixed income fund management. Given his strong credentials, I am confident that he will provide the right balance of dynamism and professional fund management to our operations in India.”