Manish Gunwani quits Nippon India Mutual Fund after a stint of five years

Manish Gunwani, who is the chief investment officer (CIO) of equity investments at Nippon India Mutual Fund, will step down from his role from January 1, 2023. Sailesh Bhan will take over the reins from Gunwani and lead the equity division of the fund house.

About Manish Gunwani
Gunwani joined Nippon India in September 2017. Before this, he served as Deputy CIO-Equity at ICICI Prudential Mutual Fund, managing over Rs 35,000 crore assets. Currently, he manages five schemes, they are Nippon India Growth Fund, Nippon India Balanced Advantage Fund, Nippon India Multi Asset Fund, Nippon India Flexi Cap Fund and Nippon India Passive Felxicap FoF with a collective asset of around Rs 25,200 crore as on September end.

A veteran of the Indian mutual fund industry with experience of almost 25 years in fund management and equity research. Manish is known to have a bend towards 'growth at the reasonable price' style of investing. You can read the interview here.

Nippon India Growth Fund, which he has been managing since September 2017, has given returns of 14.31 per cent till November 4, 2022, compared to category average of 12.71 per cent. Moreover, Nippon Indian Balanced Advantage Fund has given returns of 9.08 per cent from May 7, 2018 to November 4, 2022, as against the category average of 8.67 per cent in the same time frame.

While the future course of action is still not known, he may be heading to start his own venture in portfolio management services. Several of the top fund managers of the Indian asset management industry have set up their own shop in the money management business.

But going forward, all the focus will be shifted on Sailesh Bhan, as he takes over the responsibility of CIO-Equity at the fund house.

About Sailesh Bhan
Sailesh has been with the organisation since 2004 and has been acting as Deputy CIO-Equity since 2014.

He comes with over two-and-a-half decades of rich investment experience. He has been managing multiple flagship funds namely, Nippon India Large Cap Fund, Nippon India Multi Cap Fund & Nippon India Pharma Fund for over 15 years.

All three funds managed by Sailesh Bhan rank top within their respective category. To give an example, Nippon India Multi Cap Fund having an asset of around Rs 13,500 crore has given returns of 17.41 per cent since March 2005 as against the category average of 15.57 per cent.