IL&FS Mutual Fund is planning to treble assets under its management to Rs 1,500 crore by the year-end from the current Rs 500 crore. At a board meeting on Wednesday, N K Sharma was appointed as managing director.
He was thus far the chief operating officer. Vibhav Kapoor who was the MD has been elevated to the post of vice-chairman with additional charge as chief investment strategist of the IL&FS group as a whole. Kapoor will be involved in strategising functions - that is he will give strategic direction to the AMC while ensuring that synergies across the group are leveraged optimally.
Talking about the fund
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