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Pathak joins Lotus from DBS Cholamandalam Asset Management Limited where he was CIO since he joined them in 2004. He moved to DBS Cholamandalam from IDBI Principal Mutual Fund where he was equity fund manager for around five years.
Lotus India AMC recently lost two CIOs, Sandip Sabharwal and Nand Kumar Surti. Sabharwal, an SBI Mutual Fund veteran who resigned as head of equities at SBI, joined Lotus India in 2005, and left in August this year citing personal reasons. Surti resigned in October and is reported to have moved to JPMorgan Asset Management, which plans to launch in the country shortly.
As has become commonplace in other parts of India's financial services arena, the mutual fund industry is finding it hard to retain talent in the face of aggressive expansion by existing players as well as a number of new entrants.
Lotus India AMC is a joint venture between Fullerton Fund Management Company and Sabre Capital Worldwide. Alexandra Fund Management, the sponsor of Lotus India AMC, is an affiliate of Fullerton. The Fullerton Fund Management Company Limited Singapore, is a wholly owned subsidiary of Temasek Holdings. Sabre Capital is a private equity fund promoted by Rana Talwar, formerly worldwide group CEO of Standard Chartered Bank. Talwar heads the board of directors of Lotus India AMC.
Lotus India AMC received SEBI approval to start operations in August and launched its maiden fund earlier this month. On the November 20 it is launching its newest scheme, an open-ended tax-planning equity fund. It has created a network of employees spread across 32 cities in India.
Pathak holds a degree in commerce followed by a chartered accountancy degree. In the course of his career he has worked with ASK Raymond James, UBS Securities and as a credit rating analyst.
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