Asset management company Mahindra Manulife Mutual Fund has appointed Anthony Heredia as its managing director and chief executive officer effective today. Heredia will succeed Ashutosh Bishnoi, who retired on 31 March.
Mahindra Manulife Mutual Fund is a joint venture between Mahindra & Mahindra Financial Services Ltd (Mahindra Finance) and Manulife Investment Management (Singapore) Pte. Ltd.
In 2020, global financial services group Manulife had acquired 49% stake in Mahindra & Mahindra Financial Services’ wholly-owned subsidiary Mahindra Asset Management Company.
As per the fund house, Anthony brings with him more than 26 years of experience in the fund industry throughout his career handling a variety of leadership roles. He brings with him a diverse experience of managing both retail as well as institutional sales across domestic and offshore markets.
Speaking on the appointment, Ramesh Iyer, VC and MD, Mahindra Finance said, “We are excited to welcome Anthony Heredia to the Mahindra Manulife with his extensive experience in fund management industry. Mahindra Manulife Mutual Fund will look forward to capitalizing on his experience and leadership to explore newer and attractive opportunities. I would also like to place on record the enormous contribution made by Ashutosh during his stint and in helping us expand our presence across Tier 2&3 cities across India”.
The fund house says it has seen achievements on all fronts viz. digital transformation, institutionalizing robust organizational and people processes and constantly pushing the envelope when it comes to exploring new products, geographies, etc.
Gianni Fiacco, head of emerging markets, wealth and asset management, Manulife Investment Management said, “From the establishment of the joint venture, Ashutosh has done exceedingly well to bring the best of Mahindra and Manulife together, building a strong team and sowing the seeds for our continued growth. We wish him all the best and continued success. We are extremely pleased to have Anthony join us and with the depth of experience he brings, lead Mahindra Manulife to new heights.”
As per the latest data available with the Association of Mutual Funds in India (Amfi), Mahindra Manulife Mutual Fund had average assets under management (AAUM) of ₹79,107 crore for the December 2021 quarter.