MF Alerts

Up the ladder

Sundaram Mutual, the Chennai-based fund house, has announced the elevation of its Director-Sales and Global Operations, Sunil Subramaniam, as Deputy CEO with effect from February 19, 2014. During his tenure spanning eight-and-a-half years, the company managed to quintuple its assets under management. The fund currently manages ₹16,490 crore in equity and fixed income assets. Sunil Subramaniam, a Masters in Chemistry from the Indian Institute of Technology, Madras, and MBA (open) from The Open University, London, brings with him 20 years of rich work experience, particularly in the banking space. He has spent nine years each with State Bank of India and American Express Bank and two years with Bank of America.

Joins lakh-crore club

The month of January saw another fund house join the lakh crore club. The total assets managed by ICICI Prudential Mutual Fund crossed ₹1-lakh crore in January 2014. This was helped by healthy inflows into equity and debt schemes. Industry experts attribute this to strong performance by its equity funds in the last few years. ICICI Prudential is the third fund house to achieve this milestone. Earlier, in December 2013, Reliance Mutual Fund’s assets crossed ₹1-lakh crore, sharing the top position held by HDFC Mutual Fund for many years now.

Just click on it

Tired of filling lengthy application forms for your mutual fund investments? Motilal Oswal Mutual Fund has launched an online platform that enables even first-time investors who are KYC compliant to buy into their fund schemes without having to fill any application form! No more cumbersome paper work, visiting the collection centres and waiting to submit the form or couriering it.

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