Reliance MF chief Sundeep Sikka named chairman of Amfi

The Association of Mutual Funds in India (Amfi) has appointed Sundeep Sikka, president and chief executive of Reliance MF, as its chairman.

The association has also elected Sandesh Kirkire, CEO of Kotak Asset Management Company, as its vice-chairman.

The decisions were taken in Amfi's annual general body meeting and were communicated to fund houses by Amfi CEO H N Sinor.

According to sources, Mr Sikka and Mr Kirkire have been elected by the Amfi members unanimously and would hold their respective positions for the period up to the next annual general meeting in 2014.

Mr Sikka, who was earlier the vice-chairman of Amfi, succeeds Milind Barve, managing director of HDFC MF.

By convention, Amfi vice-chairman takes over as its chairman though Mr Barve was re-elected as chairman last year.

Before that, U K Sinha, who was heading UTI MF at that time, prior to his appointment as the head of market regulator Securities and Exchange Board of India (Sebi), was appointed chairman of Amfi in 2010.

Amfi, which is the industry association of mutual funds, interacts with market regulator Sebi regarding mutual fund related issues and also represents the industry to the government, the Reserve Bank of India (RBI) and other organisations. It also serves as a self-regulatory body for mutual funds.