Global financial services giant Morgan Stanley has hired two senior officials for its Indian mutual fund venture from its bigger rival Birla Sun Life Asset Management.
The two officials --Jayesh Gandhi and Navneet Munot were working with the Birla Sun Life fund house, a well established player in the mutual fund industry having assets under management over Rs 31,300 crore.
The duo have been appointed in Morgan Stanley investment management in India for managing the multi-cap equity and multi-strategy funds.
Gandhi, with over 12 years of experience in investment management and research was managing equity assets of over 600 million dollar mainly in the mid-cap area for Birla Sun Life, a company statement said.
Besides, Munot was the Chief Investment Officer of fixed income and hybrid funds at Birla Sun Life responsible for managing over 3.5 billion dollar across money market, bond and hybrid funds.
The Assets under management of Morgan Stanley MF in India were about Rs 4,000 crore till November, according to data available on the Association of Mutual Funds in India website for the month.
"We are pleased to have Jayesh and Navneet on board as we expand our range of India-related investment strategies. Both have strong and consistent track records investing in the Indian markets, and will help fulfil our objective of becoming a leading fund management company in India," Morgan Stanley India CEO Narayan Ramanachandran said.
Morgan Stanley Investment Management in India had launched its first domestic fund in 1994.