Mutual funds industry body Amfi elects Sundeep Sikka as chairman

New Delhi, Sep 4 (PTI) Sundeep Sikka, chief executive officer of Nippon Life India Asset Management, has been elected as new chairman of Association of Mutual Funds in India (Amfi), the industry body said on Thursday.

Vishal Kapoor, chief executive officer of Bandhan Asset Management Company, has been elected as the vice chairman, Amfi said in a statement.

Both have been elected by Amfi board following its 30th Annual General Meeting, and the two leaders assume charge with immediate effect.

Sikka returns to a familiar role, having previously served as Amfi chairman between 2013 and 2015. He has been on the Amfi Board since 2009, contributing to various industry initiatives over the years. Kapoor, who has been on the Amfi board since 2018, currently heads the ARN Committee and has been serving in that capacity since 2020.

These appointments come at a time when India's mutual fund industry, which surpassed Rs 75 lakh crore in assets under management (AUM) and caters to more than 5.6 crore investors nationwide.

The new leadership aims to expand the industry's outreach, strengthen investor trust, and lay the groundwork for its next phase of growth.

Sikka said the priority will be to widen the geographic reach of mutual funds, build investor confidence through greater transparency, and work closely with Sebi and policymakers to drive financial inclusion. "Our aspiration is to make mutual funds not just a preferred investment option but a nationwide movement for long-term wealth creation," he said.

Kapoor added that the focus would be on simplifying access, increasing awareness at the grassroots level, and enabling first-time investors to participate confidently in India's growth story.

He highlighted the importance of strengthening the distribution network and empowering advisors to broaden investor participation across the country.

Amfi also extended its appreciation to Navneet Munot, MD & CEO of HDFC Asset Management Company, for his exemplary tenure as chairman, and to Anthony Heredia, MD & CEO of Mahindra Manulife Mutual Fund, for his valuable contributions as vice chairman. PTI SP SHW