HDFC MF announces new fund managers for schemes managed by Prashant Jain
1 min read . Updated: 25 Jul 2022, 06:04 PM IST
Premium- Jain used to manage HDFC Balanced Advantage, Flexi Cap, and Top 100 Fund, with combined assets of about ₹90,000 crore
NEW DELHI: HDFC Mutual Fund has announced new fund managers for the schemes that were earlier managed by Prashant Jain, who stepped down on Friday. Jain used to manage HDFC Balanced Advantage, Flexi Cap, and Top 100 Fund, with combined assets of about ₹90,000 crore.
Roshi Jain, who joined HDFC Asset Management Company (AMC), in December 2021 from Franklin Templeton India Mutual Fund, will take care of HDFC Flexi Cap Fund, which was earlier known as HDFC Equity.
HDFC Top 100, a large-cap fund, will be managed by Rahul Baija, who joined HDFC AMC in July from Sundaram AMC where he worked as senior fund manager – equity.
HDFC Balanced Advantage Fund, which was managed by Jain since its inception in 1994, when it was part of another mutual fund that was eventually taken over by HDFC AMC in 2003, will now be handled by three fund managers - Gopal Agrawal and Srinivasan Ramamurthy (for equity assets) and Anil Bamboli (for debt assets).
Agrawal joined HDFC AMC in July 2020 after having worked with DSP Mutual Fund, Mirae Asset Mutual Fund, and Tata Mutual Fund. Ramamurthy had joined the fund house in October 2020 from Mahindra Manulife Mutual Fund. Bamboli has been with the fund house for almost two decades now.
For all the above funds, the overseas investments, if any, will be managed by fund manager named Priya Ranjan.
The new fund managers will take over from 29 July.
Further, Chirag Setalvad, a senior equity fund manager, who is currently managing four funds including HDFC Mid Cap Opportunities, will assume charge as head of equities at the fund house. Shobhit Mehrotra, a senior debt fund manager, will take over as head-fixed income. Both will report to Navneet Munot, managing director and chief executive of the company.
