HDFC AMC announces new fund managers

HDFC Mutual Fund has announced new fund managers who will be managing funds earlier managed by Prashant Jain. The move comes after the veteran fund manager resigned after his 19-year stint at the fund house.

Roshi Jain will be managing HDFC Flexi Cap Fund and Rahul Baijal will be the fund manager for HDFC Top 100 Fund. Gopal Agrawal and Srinivasan Ramamurthy will manage the equity assets of HDFC Balanced Advantage Fund, while Anil Bamboli will look after the debt side of the fund.

HDFC Balanced Advantage Fund has become one of the largest balanced advantage funds in India with an AUM of over Rs 43,000 crore. The fund has given returns of 17.87 per cent since its inception.

All these changes will be effective from July 29, 2022. HDFC Mutual Fund, which has an asset of over Rs 4.15 lakh crore, has overhauled its equity team post the resignation of Mr Jain.

Rahul Baijal, Senior Member - Investment Team (Equity), shall be redesignated as 'Senior Fund Manager - Equities'. Rahul has recently joined the fund house and was earlier with Sundaram Mutual Fund where he was credited for turning around schemes in the large cap category.

Roshi Jain was appointed as Senior Vice President - Equity Investments of the fund house on December 20, 2021. In her previous stint, Roshi Jain was with Franklin Templeton Mutual Fund from the year 2005 to 2021.

All of the three funds were earlier managed by Prashant Jain and had collective assets of Rs 89,500 crore. For the past few years, the fund house was expanding its fund management team. Gopal Agrawal, a recognised name in the Indian fund industry, was hired in 2020. He was one of the fund managers who had turned the fortunes of Mirae Asset Mutual Fund in the equity space.