Nippon Life India AIF Management Ltd appoints Ashish Chugani as New Head of Alternative Assets business

Nippon Life India AIF Management Limited, a 100% subsidiary of Nippon Life India Asset Management Limited (NAM India), the asset manager of Nippon India Mutual Fund (NIMF), today announced the appointment of Mr. Ashish Chugani as the Head of Alternative Assets for its AIF business. Currently the company offers products across three business lines namely Public Equity, Real Estate Credit & Tech/VC FoF. The Company has a commitment of over 5,600 crore as of 31st March 2023.

In this role, Ashish will lead strategic initiatives and business operations for the development and management of NAM India's AIF business. He will report to Sundeep Sikka, ED & CEO NAM India, in this capacity and will take charge with effect from 1st July 2023.

The AIF business is currently led by Shahzad Madon who is attaining superannuation on 30th June 2023.

Ashish has over 30 years of experience, working in companies like Tata Capital, Centrum, Citibank, Arthur Anderson, Cambridge Place Investments Management, Ankar Capital Management, and Antfactory to name a few which gave him experience of working across multiple investment asset classes.

Commenting on the development, Mr. Sundeep Sikka, ED and CEO of Nippon Life India Asset Management Ltd. said, " We are delighted to have Ashish on board. AIF is the focus for the company, and we believe his expertise across asset classes would help us grow business both domestically and internationally. We would also like to thank Shahzad Madon with his contribution for his commitment and leadership in leading this business for more than a decade. We wish him best of luck in his future endeavours."

Nippon Life India AIF Management Limited is a 100% subsidiary of Nippon Life India Asset Management Limited. The firm has both Category II and Category III AIF licenses which are into real estate, credit, tech / venture capital, and listed equity space.

Shares of Nippon Life India Asset Management Limited was last trading in BSE at Rs. 235.85 as compared to the previous close of Rs. 237.50. The total number of shares traded during the day was 19077 in over 866 trades.

The stock hit an intraday high of Rs. 238.10 and intraday low of 234.25. The net turnover during the day was Rs. 4504907.00.

Source : Equity Bulls

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NipponLifeIndiaAssetManagement INE298J01013 NipponLifeIndiaAIFManagement Appointment Head