Deputy Managing Director Harsha Viji has taken over as the Managing Director of Sundaram Asset Management Company, the investment manager of Sundaram Mutual Fund.

He succeeds T. P. Raman, who relinquished the post upon his retirement. However Mr. Raman would continue to be associated with Sundaram AMC as non-Executive Director.

Addressing presspersons here on Tuesday, Mr. Harsha Viji said the mutual fund industry was going through testing times in the last couple of years. However, Sundaram AMC had a fantastic team of investment managers, and the aspirations for growth would continue.

Fixed income funds

Sundaram Mutual would focus on fixed income funds, as there was a huge opportunity for growth, he said. The other area of focus would be on managing international funds. “We have taken steps to expand in Singapore, and use this as a platform for growth,” he said.

According to T. P. Raman, Sundaram Mutual was awaiting the approval of the monetary authorities of Singapore to expand the operations. When asked to comment on reports of withdrawal of fixed maturity plans by several fund houses, Mr. Raman said Sundaram Mutual was not facing any withdrawal. The investment of over Rs. 2,000 crore was in intact, he added.

T. T. Srinivasaraghavan, Managing Director, Sundaram Finance, said the group was committed to the asset management business.

More In: Companies | Business