Navneet Munot is set to take control of the top position at HDFC Mutual Fund as its managing director and chief executive officer, HDFC Asset Management Co. said in a notification to the stock exchanges today.
Munot, who is currently chief investment officer at SBI Mutual Fund, will take over from HDFC MF's current Managing Director, Milind Barve.
Barve, who turns 63 this year, had expressed his desire to not continue his term as managing director. He had agreed to a three-month extension of his term, which is slated to end on Jan. 31 next year.
The average assets under management handled by HDFC Mutual Fund in the quarter ended September stood at over Rs 3.75 lakh crore, according to information available on the website of the Association of Mutual Funds in India.
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