Milind Barve, MD, HDFC AMC bestowed "Maxell Award for Excellence in Business Leadership 2015"

1st May 2015, Mumbai

Mr. Milind Barve, Managing Director, HDFC Asset Management Co. Ltd. - India's largest mutual fund* has been bestowed with "Maxell Award for Excellence in Business Leadership – 2015" from Maxell Foundation for his pioneering work in the mutual fund industry. Under his leadership HDFC Mutual Fund has grown to become India's largest mutual fund company in the country*.

Mr. Barve first made his mark in the finance industry by heading HDFC's Treasury portfolio. Here his responsibilities included raising funds from Financial Institutions and Capital Markets.

After a fruitful 16 year innings in that role, he took the initiative to set up HDFC's mutual fund business as its founding CEO in the year 2000.

Under his leadership HDFC Mutual Fund has soared high above its peers as India's largest mutual fund company with Average Assets Under Management of Rs. 161,634.15 crore*. It has also grown to become the most profitable mutual fund company in the country. HDFC Mutual Fund has offered consistent investment performance and manages money for over 5 million accounts and continues to earn industry admiration through several prestigious awards. All this has been achieved with utmost integrity and highest level of ethical conduct.

One of Mr. Barve's unique accomplishments came in the year 2011 – HDFC Debt Fund for Cancer Cure. He conceptualized this fund, the country’s only mutual fund product aimed at a social cause for cancer cure. This fund is now recognized as the most sustainable way of helping needy cancer patients and now generates a donation of an approximate sum of Rs.15 crore every year. To date, it has granted help to several 100s of needy patients, most of whom are children.

Mr. Nitin Gadkari, Union Minister for Road Transport and Highways and Mr Vinod Tawde, Cabinet Minister for Education, Sports & Culture would be present at the formal awards function on Saturday, May 16, 2015.