LIC Nomura Mutual Fund AMC Appoints Two Major Management Personnel

LIC Nomura Mutual Fund AMC today announced two major appointments of Mr. Saravana Kumar as the Chief Investment Officer-Equity & Debt and Mr. Nityanand Prabhu as the Chief Operating Officer.

Mr. Saravana Kumar brings with him a rich experience of over 25 years in the financial services industry. He joins the AMC from Trust Investment Advisors where he led the PMS function since January 2014. Prior to this, he was designated as CIO & SVP at Tata AIA Life Insurance Ltd for a period of about 4 years. In the past, he has also been associated with ICICI Bank, SBI Mutual Fund and UTI Mutual Fund in the investment function. Mr. Kumar is a BE in Electronics and Communication from Government College of Engineering and PGDM-Finance from IIM Bangalore.

The new COO, Mr. Nitayanand Prabhu brings with him an experience of over 22 years. Prior to joining the AMC, he was with ING Investment Management, handling the entire Fund Operations. Earlier to this, he has also worked with ABN AMRO AMC, SUN F&C AMC and Canbank Investment Management Services. He is a Law graduate from Mumbai University.

Speaking on this development, Mr. Nilesh Sathe, Director and Chief Executive Officer of LIC Nomura Mutual Fund AMC said “The AMC has recorded an AAuM growth of 22.24% during the quarter ending March, 2015. 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.”

About LIC Nomura Mutual Fund:

LIC Nomura Mutual Fund entered into a joint venture in January 2011with Nomura Asset Management, Japan ( LIC Mutual Fund set up in 1989 by the Life Insurance Corporation of India and Nomura Asset Management Strategic Investments PTE Ltd., Japan’s leading financial conglomerate). LIC continues to be the sponsor of LIC Nomura Mutual Fund.