Tata mutual fund CIO Ritesh Jain puts in papers

Ritesh Jain, the chief investment officer of Tata Mutual Fund has quit. In response to an ET query, a Tata Mutual spokesperson confirmed Jain has resigned. Jain, who joined Tata in May 2013, helped managed assets worth Rs 40,000 crore.

It could not be ascertained where Jain is headed, mutual fund sources said he will not be a part of the industry in his new role. Jain had joined Tata from Canara Robeco MF. Prior to this, he worked for Kotak Mutual Fund, IDBI Bank and Corporation Bank, where he handled the fixed income desk.

Jain is the fourth senior fund manager to have changed jobs in the recent past. After Kenneth Andrade quit IDFC Mutual Fund to set up a portfolio management firm, Anoop Bhaskar of UTI MF replaced him. UTI poached Vetri Subramaniam of Invesco Mutual Fund, which hired Taher Badshah of Motilal Oswal Mutual Fund. Shreyash Devalkar of BNP Paribas Mutual Fund moved to join Axis Mutual Fund recently.