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Context is everything.
Detailed stories on technology startups, business and economic current affairs.
Detailed stories on technology startups, business and economic current affairs.
The resignation of sales co-head Naveen Gogia is seen as a major setback to the AMC’s efforts to regain lost ground. But, it also removes the last vestige of the founding team, opening up the field for the CEO.
HDFC Asset Management Co. has been dealt a body blow. Naveen Gogia, its co-head of sales, has exited; in fact, Monday was his last working day at the fund house.
Gogia, who joined HDFC Mutual Fund back in March 2002, was part of the AMC’s founding team, which included its former chief executive officer Milind Barve and former chief investment officer Prashant Jain. His leaving, ostensibly to start a wealth advisory business, thus spells the end of the troika that took the fund house to the very top of the leaderboard within a decade of its inception.
“The three most …
Despite record inflows, AMC stocks have not delivered strong returns. Moreover, the best AMCs are not listed and may never opt to be, for good reason.
Under CEO Navneet Munot, the one-time leader of the mutual fund industry has adopted a mix of investment strategies and products to regain lost ground.
A safety-first strategy and not having a star manager has only helped the mutual fund business of India’s largest bank. Will it hold its ground?
