JM Financial Mutual Fund has announced that Sandip Sabharwal has separated from the services of JM Financial Asset Management [Or is he Fired ?] Following this, the schemes managed by him will now be managed by the existing Equity Fund Management team. Sandip Sabharwal was charge sheeted by the CBI in the Ketan Parekh Scam when he was the fund manager of SBI Mutual Fund.
Asit Bhandarkar has been selected as the fund manager of JM Core 11 Fund – Series 1 and JM Emerging Leaders Fund. JM Multi Strategy Fund will be managed by Sanjay Chhabaria. Similarly, the role of fund manager for JM Tax Gain Fund will be handled by Sandeep Neema.
JM Contra Fund will be managed jointly by Sandeep Neema and Sanjay Chhabaria. All other features of the mentioned schemes remain unchanged.
We think [not sure] that he maybe sentenced soon in the Case and that’s why he is separating.