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Anoop Bhaskar has decided to quit IDFC Mutual Fund, and will be replaced by Manish Gunwani as head-equity at IDFC Mutual Fund, according to people in the know.

IDFC Mutual Fund is yet to officially announced the development.

Bhaskar, 57, who is known for his tactical investments and also stock-picking ability in mid- and small-caps, will be quitting IDFC MF after overseeing the equities assets at the fund house for over seven years.

Bhaskar has spent 27 years in the mutual fund industry. Before joining IDFC MF, he was head of equity at UTI MF. Before that, he worked as a fund manager at Sundaram MF.

When Bhaskar joined IDFC MF in 2016, he was taking over from another star fund manager -- Kenneth Andrade. Today, IDFC MF manages 1.18 trillion worth of assets on an overall basis. It is the ninth biggest fund house in the country.

The fund house will soon be renamed as Bandhan MF after a consortium led by Bandhan Financial Holdings acquired the fund house for 4,500 crore, in what is the biggest deal in the 40 trillion mutual fund industry.

Manish Gunwani, who was chief investment officer-equity at Nippon India Mutual Fund, will be taking over from Bhaskar.

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