SBI Mutual Fund appoints Vinay Tonse as MD and CEO

Fund house had average assets under management of Rs 3.64 trillion in June quarter

The country’s largest fund house — SBI Mutual Fund (MF) — has appointed Vinay Tonse (pictured) its managing director and chief executive officer, after Ashwani Bhatia moved to State Bank of India (SBI) to takeover the reins of the bank.

Tonse was serving as chief general manager of the Chennai circle in SBI and was heading SBI’s business & operations in Tamil Nadu and Puducherry. 

“It is a huge responsibility to manage the growth dynamics of the number one fund house in the country. One which offers best-in-class investment solutions through a process driven approach which is high on transparency, convenience and value creation. With our vast distribution network, we will further strive to take the benefits of capital markets to investors across the country,” Tonse said.