Shahid Ghaffar has been elected as the new chairman of Mutual Funds Association of Pakistan (Mufap). The new board of directors of Mufap, in its first meeting also elected Dr Amjad Waheed as vice chairman of the association. According to a press release issued here on Tuesday, the members of Mufap elected new directors on the board of directors of the association against the vacancies arising from the rotational retirement of some of the directors.
The Directors of Mufap for the year 2010-11 consist are Shahid Ghaffar (Chairman), Dr Amjad Waheed (Vice Chairman), Babar Ali Lakhani, Farid Ahmed Khan, Mir Adil Rasheed, Ms Maheen Rahman, Mohammad Habib-ur-Rehman, Mohammad Shoaib, Nasim Beg, Rashid Mansur, Wazir Ali Khoja, Yasir Qadri and Shamshad Nabi. The newly elected chairman Shahid Ghaffar holds MBA degree from Gomal University. He is the Chief Executive Officer of HBL Asset Management Limited.
Shahid has extensive experience of fund management in Pakistan. He has served in NIT for about 21 years and was responsible for the Asset Management Division and actively participated in the re-construction of NIT during the crisis period 1996-1998. He served as first non-member managing directors of Karachi Stock Exchange (KSE) for over two years during 1998-2000 and was instrumental in introducing effective risk management systems at KSE. He has also served as Executive Director/ Commissioner (August 2000-November 2005) at the Securities and Exchange Commission of Pakistan (SECP) and actively participated in the successful implementation of wide ranging reforms in the capital market.
Vice Chairman Dr Amjad Waheed, CFA, is presently the Chief Executive Officer of NBP Fullerton Asset Management Limited. He has been a Director of Mufap since December 1, 2008. He is one of leading fund managers in the region. Prior to his appointment as the Chief Executive Officer of Nafa, he was the head of Equity Mutual Funds and Portfolios at Riyadh Bank, Saudi Arabia, managing $7.5 billion of assets. He was the head of Asset Management at National Investment Trust Limited (NITL) before moving to Riyadh. He holds a Doctorate in Finance with major in international investments from Southern Illinois University, USA and is a CFA charter holder.-PR