Mumbai, Aug 27 (IANS) Reliance Capital, a part of the Anil Dhirubhai Ambani Group, Friday announced the appointment of Madhusudan Kela as Chief Investment Strategist of the company.

Kela, currently head of equities at Reliance Mutual Fund (RMF), will step into the new role Sept 21.

'Madhu has been a driving force in the growth of our mutual fund business over the last 10 years, and a key member of the team instrumental in bringing us to a leadership position in the industry. Given his past track record and understanding of the markets, we now look forward to his valuable contribution across the full spectrum of our businesses,' said Reliance Capital CEO Sam Ghosh.

Kela will play a crucial role in expanding assets, mentoring portfolio managers across the RCL group, and providing strategic inputs and guidance on investments across the RCL group companies, within the scope of the existing regulatory framework.

'It has been a privilege to be a part of the RMF leadership team, and contribute to wealth creation for millions of small investors across India. I am delighted to get this larger canvas with increased responsibilities, and thereby make a wider contribution to the RCL family,' said Kela.

In a related move, Reliance Mutual Fund (RMF) also announced the elevation of Sunil Singhania, currently deputy head of equities, as the head of equities in RMF.

Three senior research analysts - Samir Rachh, Viral Berawala and Shrey Loonker - are also elevated as assistant fund managers to further broad base RMF's existing equity fund management team.

Reliance Capital group companies manage substantial equity assets of over Rs.50,000 crore, spread across various businesses, including life insurance, mutual fund, private equity, venture capital, offshore funds, portfolio management services and wealth management.