AMFI appoints Kotak Mutual Fund’s Nilesh Shah as new chairman

Nilesh Shah, Managing Director of Kotak Asset Management Company (AMC), has been appointed as the new chairman of the Association of Mutual Funds in India (AMFI), with immediate effect. AMFI, the industry body of Sebi-registered mutual funds, took the decision in its board meeting on September 23. Nilesh Shah succeeded Managing Director, and CEO of ICICI Prudential Asset Management Company, Nimesh Shah, who was appointed to the post in 2018. The body also elected Saurabh Nanavati, Chief Executive Officer, Invesco Mutual Fund as the vice-chairman of AMFI, for a period of one year.