The Association of Mutual Funds in India (AMFI), which represents all SEBI-registered Asset Management Companies (AMCs), announced on Wednesday, the election of its new Chairman and Vice Chairman.

Following AMFI’s 30th Annual General Meeting, Sundeep Sikka, Executive Director and CEO, Nippon Life India Asset Management Limited, was appointed as Chairman. Vishal Kapoor, CEO, Bandhan AMC, was named Vice Chairman by the board members. They take over from Navneet Munot, MD & CEO, HDFC AMC, as Chairman, and Anthony Heredia, MD & CEO, Mahindra Manulife Mutual Fund, as Vice Chairman, respectively.

Sundeep Sikka previously served as Chairman of AMFI from 2013 to 2015 and has been a member of the AMFI Board since 2009. Vishal Kapoor has been serving as Chairman of the ARN Committee since 2020 and has been on the AMFI Board since 2018.

The new Chairman and Vice Chairman will take charge with immediate effect.

Chairman Sikka said, “Our priority will be to expand the reach of mutual funds across geographies, strengthen investor confidence through transparency and trust, and work closely with SEBI and policymakers to advance financial inclusion. As an industry body, we aspire to make mutual funds not just a preferred investment option but a nationwide movement for long-term wealth creation.”

According to the AMFI press release, “The new leadership takes charge at a critical time for India’s mutual fund industry, which has surpassed ₹75 lakh crore in assets under management (AUM) and supports over 5.6 crore investors across the country."

Together, they embody the vision of AMFI 2.0, emphasising closer collaboration with regulators and policymakers, safeguarding investors, promoting greater inclusion, and ensuring sustainable growth of the industry. Under their leadership, AMFI aims to expand its outreach, build greater trust in mutual funds, and lay the foundation for the industry’s next phase of development, according to the press release.

Vice Chairman Kapoor said, “In recent years, mutual funds have emerged as the preferred vehicle for disciplined savings and financial empowerment. From now on, we will focus on simplifying access, enhancing investor awareness at the grassroots, and enabling first-time investors to participate in India’s growth story confidently.”