Madhusudan Kela quits as chief investment strategist of Reliance Cap

MUMBAI: Madhusudan Kela has quit as the chief investment strategist of Reliance Capital. The former star fund manager will now be a part-time advisor to the financial services firm of the Anil Ambani Group, the company said in an exchange filing.

“Mr Kela intends to devote a significant portion of his time on spiritual and philanthropic pursuits with the renowned spiritual leader, Sadhguru and the Isha Foundation,“ said Reliance Capital in an exchange filing. Speculation is rife that Kela has started an investment fund in Mumbai.

This could not be independently verified. Kela, one of the most influential names of Dalal Street in the past decade, headed the equities fund management at Reliance Mutual Fund. Late in 2010, he moved to the fund's parent amid various speculations. Prior to joining Reliance Group, Kela worked with UBS, Peregrine Securities and Motilal Oswal Securities.