, October 31, 2014: Principal Pnb Asset Management Company has announced the appointment of Mr. Lalit Vij, as Managing Director, effective November 1, 2014.
Speaking on Mr Vij’s appointment, Mr. Rajan Ghotgalkar, Country Head – Principal India said, “We are delighted to have Lalit join the team. He has been with Principal for over 8 years and has been instrumental in setting up & growing Principal Global Services, an in-house center focused on IT and back office needs of Principal Financial Group’s global businesses. With his experience, we are confident that Lalit will lead the AMC successfully and help us achieve our mission of becoming the most preferred asset manager to Indian investors”
Prior to this appointment, Lalit was the Managing Director of Principal Global Services Pvt. Ltd. where he will continue to serve as a director on the board there. Lalit has over 25 years of work experience across multiple disciplines primarily in the financial service industry. He is a graduate from University of Punjab and is a fellow member of Institute of Chartered Accountants of India.
About Principal Mutual Fund
Principal Mutual Fund is sponsored by Principal Financial Services Inc. USA through its wholly owned subsidiary, Principal Financial Group (Mauritius) Limited, and with Punjab National Bank as its co-settlor. For the quarter ended 31st September 2014, the average Assets under management was Rs 4,753 crores with around 4.8 Lac investors (on the basis of live folios). Principal Mutual Fund serves its clients from about 100 locations across the country through its branches or investor service centres.