Sandip Sabharwal joins Prabhudas Lilladher as Portfolio mgt chief

Prabhudas Lilladher (PL), equity broking and financial services group, has appointed Sandip Sabharwal as chief executive officer of its Portfolio Management Services (PMS).

Prior to taking up assignment, Sabharwal worked with JM Financial AMC as the Chief Investment Officer (Equity). In his very first year, the AUM of the fund house grew from Rs 200 crore to Rs 5,400 crore, PL said in a statement.

There is a large amount of liquidity globally which needs proper advice for investing into high growth economies like India and that is precisely what we will be focusing on. Starting off on a long term partnership, we will target a size of a billion dollars of funds under management in the next few years, Sabharwal said.

The Portfolio Management Space in India is at its nascent phase with scope for rapid growth. The potential size of this market is in multiple of billions of dollars, moreover India has one of the youngest populations globally and the most rapidly growing High Net worth Population.