Barve to step down as chief of HDFC MF; agrees to three-month extension

Barve has been among the longest serving managing directors in the Rs 24-trillion mutual fund

Milind Barve, who has served as managing director of HDFC Mutual Fund (MF), for the last 20 years will be stepping down from his position after his term ends in October, 2020.

In an exchange disclosure, the fund house informed that Barve had expressed his desire not to seek an extension of his current term expiring on October 31, 2020 as he was turning 63 this year. However, to provide adequate time for identifying a successor and smooth functioning of business, Barve agreed to an extension of three months, which is upto January 31, 2021.

On Thursday, the board of directors re-appointed