Exclusive: HDFC MF finalises money managers to handle Prashant Jain's funds

HDFC’s Prashant Jain
(Image credit: Suneesh Kalarickal)

Highly placed sources are telling Moneycontrol, that the process to find suitable money managers to take over marquee funds handled by Prashant Jain is underway.

Moneycontrol learns that HDFC MF has identified fund managers to oversee Prashant Jain’s three top schemes – namely HDFC Flexicap Fund, HDFC Top 100 Fund, and HDFC Balanced Advantage Fund.

Roshi Jain – HDFC Flexicap Fund

Roshi Jain has been roped in to manage HDFC Flexicap Fund. She is a senior fund manager & joined the AMC in December 2021. Previously, she was VP-Portfolio Management at Franklin Templeton.

Also Read | End of an era: Prashant Jain, votary of ‘value’ investing, leaves HDFC MF

 Rahul Baijal – HDFC Top 100 Fund

Rahul Baijal will be managing HDFC Top 100 Fund. He joined the AMC in July 2022 as a senior fund manager. He had previously worked with Sundaram Mutual Fund & Bharti AXA Life Insurance.

Gopal Agrawal, Anil Bamboli, and Srinivas Ramamurthy – HDFC Balanced Advantage Fund 

HDFC Balanced Advantage Fund has been handed over to the trio of Gopal Agrawal, Anil Bamboli, and Srinivas Ramamurthy. Gopal Agrawal, who will be managing the equity portion also manages the HDFC Large & Midcap Fund & the HDFC Value Fund.

Also Read | Prashant Bhai is retiring better than Donald Bradman: Nilesh Shah, CEO, Kotak Mahindra Mutual Fund

Gopal has 20 years of investing experience and joined the AMC in July 2020 following stints at Mirae Asset Management & DSP & Tata AMC. At HDFC MF, he currently manages nearly Rs 18,000 cr in AUM.

Anil Bamboli who will be managing the debt portion has an experience of 25 years & currently manages over Rs 66,000 cr in AUM.

HDFC MF has taken a new initiative to add a third fund manager – Srinivas Ramamurthy who will be undertaking the asset allocation. Srinivas joined the AMC in October 2020 and currently manages over Rs 11,000 cr in AUM.

HDFC Balanced Advantage Fund – one of India’s largest equity schemes

With a corpus of Rs 43,079 crore, HBAF is one of the largest equity schemes in the Indian mutual funds (MF) industry. Till about last year, Jain had managed this scheme by tilting its portfolio heavily towards equities. It had consistently allocated at least 65 percent of its corpus to equities. However, last year it changed its asset allocation slightly and brought down its equities, in line with most of its peers in the balanced advantage funds category. Jain has been managing HBAF consistently since February 1, 1994 for 28 years; a record in the Indian mutual funds industry.

Watch | Prashant Jain quits HDFC AMC; A look at his career, investment philosophy & life

Additionally, Srinivasan Ramamurthy will decide the asset allocation portion of HBAF. Ramamurthy specializes in managing asset allocation funds at HDFC Mutual Fund, and he will get to decide how much HBAF will invest in equity and debt. In simple words, HBAF will now have three fund managers.

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