Emkay Investment Managers (EIML) has announced the appointment of Manish Sonthalia as its Chief Investment Officer. Sonthalia joins EIML, the asset management arm of Emkay Global Financial Services, from Motilal Oswal Asset Management Company, a company release said.
A qualified chartered accountant and company secretary, Sonthalia served as an Executive Director and CIO for PMS, Alternates, and Offshore Investments in Motilal Oswal AMC and managed assets worth nearly Rs 6,500 crore, the release said.
“Emkay Investment Managers has built great prowess in offering a diverse set of equity investment opportunities for clients seeking prudent wealth creation in the Indian capital markets. I am exhilarated upon my appointment and look forward to deepening the product profile and scaling up the AUM of the portfolio management business,” Sonthalia said.
EIML is a wholly-owned subsidiary of Emkay Global Financial Services and has been a SEBI-registered portfolio manager since 2003. EIML offers different types of portfolio management services, and alternative investment funds catering to individual risk appetites, goals, and investment preferences.
In August, equity or growth oriented mutual fund schemes witnessed net inflows of Rs 20,245.26 crore led by strong action in small cap and mid cap funds which saw net inflows worth Rs 4,264.82 crore and Rs 2,512.34 crore, respectively.
The mutual funds showed interest in technology, metals, consumer durables, and chemicals leading to a month on month rise in their weights, an IANS report said attributing details to Motilal Oswal Financial Services. Conversely, private banks, PSU banks, oil and gas, consumer, and NBFCs saw a MoM moderation in weights.
Private banks (19.2%) was the top sector holding for MFs in August, followed by technology (9.6%), autos (8.2%), capital goods (7.3%), and consumer (6.8%), the report said. Media, Textiles, Chemicals, and Technology were the top sectors to witness an increase in value MoM, the report further added.
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