Nimesh Shah. (Source: BloombergQuint)

ICICI Prudential’s Nimesh Shah Becomes New AMFI Chairman

ICICI Prudential Asset Management Company Managing Director and Chief Executive Nimesh Shah has been elected as the chairperson of the Association of Mutual Funds of India, senior officials said.

Shah replaced A Balasubramanian, chief executive officer of Aditya Birla Sun Life Mutual Fund, who took over as AMFI chairman in 2016.

Kailash Kulkarni, CEO of L&T Mutual Fund, continues to be the vice chairperson of AMFI, they added. The decision was taken at the industry body's board meeting on Friday.

Shah joined the mutual fund industry in July 2007, having being appointed as managing director and chief executive officer of ICICI Prudential AMC that has assets under management of Rs 3.1 lakh crore.

Also read: Equity Investments To Remain Muted In 2019, Says Mutual Fund Trade Body AMFI