Sachin Bansal-backed Navi MF appoints Hari Shyamsunder as CEO

Sachin Bansal-backed Navi Mutual Fund (MF) on Friday announced the appointment of Hari Shyamsunder as the chief executive officer (CEO) of the fund house. He will take over from Saurabh Jain who resigned from his current role on February 28.

Shyamsunder is currently the fund manager of Navi asset management company (AMC). While Jain will be moving to another role within the Navi Group where he will lead a new business vertical. Jain is also part of Securities and Exchange Board of India’s (Sebi) advisory committee on MFs.

According to the press release issued by the company, Shyamsunder brings more than 16 years of work experience, with 12 of those years being in the asset management industry. He joined Navi AMC Limited in 2021 after over a decade at Franklin Templeton where he was a co-portfolio manager and research analyst. He is a CFA Charterholder and has a PGDM from IIM Bangalore.

Sachin Bansal, co-founder of the Navi Group said, “I am looking forward to Hari taking charge and continuing the exciting journey of Navi AMC. He is a mutual fund industry veteran with a proven track record in portfolio handling and research. I am confident that Hari will further strengthen our mutual fund business.”

Navi MF has largely focused on offering low-cost passive funds in the last few months. Navi MF had acquired assets of Essel MF in 2021. The data from Association of Mutual Funds in India (Amfi) shows that Navi MF has assets of ~929.59 crore as of December quarter.