UTI Mutual Fund’s fund manager Lalit Nambiar resigns

Lalit Nambiar, Executive Vice President and Fund Manager of UTI Mutual Fund, has resigned from the fund house and is serving his notice period, according to the information received from sources.

“Nambiar has quit UTI Mutual Fund and this is the last month of the notice period,” an industry source said. The industry sources also said that Nambiar may join HDFC Mutual Fund to fill in for Srinivas Rao Ravuri.

At UTI Mutual Fund, Nambiar managed, UTI Long Term Equity Fund, UTI Midcap Fund, UTI India Consumer Fund, UTI Long Term Advantage Fund, and UTI Focussed Equity Fund. A CFA charter by qualification, Nambiar had joined UTI Mutual Fund in Dec 2006 as a vice president in securities research. He took up portfolio responsibilities in July 2007. In September 2008, he took up the role of Head of Research, in addition to his portfolio responsibilities.