Mutual Funds Jobs, Help, Tarun!, Sub-brokers, Anyone?, Temps: Rights & Responsibilities.

(From Business Today (India))

Byline: Mahesh Nayak, Tarun Sheth, Shailesh Dobhal, Amanpreet Singh

MUTUAL FUND JOBS

The Mutual Calling

The thriving mutual funds industry is in dire need of people-from chief investment officers, fund managers, marketing heads to dealers.

By Mahesh Nayak

Success comes with its own set of problems. a case in point is the mutual fund (MF) industry which has witnessed stellar growth in the last one year on the back of a booming stock market. So, even while the industry's assets under management (AUM) have grown almost 32 per cent in the last one year to over Rs 2 lakh crore, dearth of people-CEOs, chief investment officers (CIOs), fund managers, marketing heads, analysts, even dealers-is staring the industry in the face.

"Brilliant (lateral career) opportunities and monetary gains have seen (huge) people churn in the industry," says Sanjay Prakash, CEO, HSBC Asset Management Company (AMC). The situation in the industry is akin to a game of musical chairs, well, with a slight difference, with more chairs being progressively added.

Recently, at the fund manager level alone there were several shifts; Vinay Kulkarni from UTI AMC joined Deutsche Mutual Fund, Kenneth Andrade from Kotak Mutual Fund joined Standard Chartered Mutual Fund and Deven Sangoi quit Birla AMC to join Prudential ICICI. And Ashish Ranawade moved out of UTI AMC to join ING Vysya Mutual Fund to handle portfolio management services. With new products such as derivative funds hitting the market and competitors such as hedge, private equity and FII (foreign institutional investors) funds also vying for the same set of people, it is an out and out employees' market.

"With five to six funds (FIIs) being launched every month, the scarcity of talent is being clearly witnessed in this market," says Ajay Bagga, CEO, Grange Advisory (a Sabre …