LIC Nomura Mutual Fund makes two key appointments

MUMBAI: LIC Nomura Mutual Fund AMC today said it has appointed Saravana Kumar the Chief Investment Officer, Equity and Debt, and Nityanand Prabhu the Chief Operating Officer (COO).

Kumar brings with him an experience of over 25 years in the financial services industry and joins the AMC from Trust Investment Advisors, where he led the PMS function since January 2014, the company said in a release here.

Prior to this, Kumar was CIO and SVP at Tata AIA Life Insurance for about four years.

The new COO, Prabhu, who was with ING Investment Management handling the entire fund operations before joining the AMC, comes with an experience of over 22 years.

"The AMC has recorded an annual asset under management (AAuM) growth of 22.24 per cent during the quarter ended March 2015," LIC Nomura Mutual Fund AMC Director and Chief Executive Officer Nilesh Sathe said.

"We are currently strengthening our core team, geographical reach and product suite in order to offer choice of investments to our valued investors. These new appointments will also help achieve the objectives of the AMC," he added.