Putting a stamp of longevity on Nilesh Shah’s tenure as the chairman of Association of Mutual Funds in India (AMFI), the board re-elected him at the recently concluded annual general meeting of the association.
Shah, the group president and managing director of Kotak Mahindra Asset Management, was first elected to the post in 2019. A veteran with more than 25 years of experience in capital markets and market-related investments, Shah has helmed fund management and banking associations in the past. He has previously held leadership positions in Axis Capital, ICICI Prudential Asset Management, Franklin Templeton and ICICI securities.
Those who have worked with Shah only have praises for the banker’s remarkable knowledge on markets and financial products. Known to be a stickler for deadlines, Shah can be unforgiving if his team misses their targets. The AMFI chairman has himself confessed that he would rather be feared than respected by those who lack the professionalism to finish their tasks on time. Despite a reputation of being a hard taskmaster, Shah is a hands-on leader who recognizes genuine mistakes and allows colleagues the space and time to rectify them, offering his valuable advice when needed.
The AMFI chairman takes pride in managing other people’s money and this responsibility is reflected in the seriousness with which Shah handles anyone in his team who takes a wayward attitude with asset management. He says that he is responsible for his investor’s money and this sense of responsibility should also be imbibed in his team.
A supporter of safe banking and investment practices, Shah has often criticized large investors who resort to unhealthy investment practices of shorting indices and basket selling. While many investors manipulate the investors’ money, Shah understands the dreams and ambitions that are linked with the money invested in mutual funds.
He recognizes that the successful management of people’s assets can help them realize their dreams. For Shah, fund management is a blessed work and this perspective drives his dedication to the field of asset management.
Shah’s commitment to work, the keen interest he takes in safeguarding people’s money, along with invaluable market knowledge and instinct which boosts profits, has helped the AMFI chief secure another term in the office.
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