Sundeep Sikka, Reliance MF President and Chief Executive, is likely to be appointed as the Chairman of the Association of Mutual Funds in India (AMFI) next month, while the hunt is still on for the Vice-Chairman's post.
AMFI will conduct its annual general body meeting in September to decide on the matter.
AMFI is the industry association of mutual funds and interacts with the the Securities and Exchange Board of India (Sebi) regarding mutual fund related issues and also represents the industry to government, Reserve Bank of India (RBI) and other organisations. It also serves as a self-regulatory body for mutual funds.
By convention, AMFI Vice-Chairman takes over as the Chairman of the organisation though Milind Barve, Managing Director of HDFC MF was re-elected as Chairman last year.
Before that,
UK Sinha , who was heading UTI MF at the time, prior to his appointment as the head of markets regulator Sebi, was appointed AMFI Chairman in 2010.
On the Vice-Chairman post, sources say the hunt is on and names of Kotak Mahindra AMC's Sandesh Kirkire and Birla Sun Life MF's A Balasubramanian, among others, are being speculated.
When asked about the next meeting of office bearers for appointment of the chairman, AMFI Chief Executive HN Sinor said, "There will be a meeting of the office bearers, who will decide. We will not know till the end of September."
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