Top 10 Fund Managers in India for 2024: List of Best Fund Managers in India
Picture this: a room full of analysts with calculators in one hand and coffee cups in the other, debating over whether to invest in tech stocks or stick with the classics. And there you see the smiling face of a fund manager, a seasoned professional with a track record that speaks volumes. Now, let’s read on to learn more about the top fund managers in India, we have listed for a successful fund management process.
Who is a Fund Manager in Mutual Funds?
A fund manager is a financial professional or entity responsible for implementing investment strategies and managing portfolio trading activities. The fund management can be done by one person or a team of people.
Fund managers receive compensation in the form of a fee, typically calculated as a percentage of the average assets under management (AUM) in the fund they oversee. These professionals can be found operating within the realm of fund management, serving various financial entities such as mutual funds, pension funds, trust funds, and hedge funds.
Although market forces significantly influence a fund’s performance in terms of rolling and trailing returns, the manager’s expertise also plays a role. A well-trained manager can outperform both its competitors and benchmark indexes. Managers of this nature are often referred to as active or alpha managers, in contrast to those who adopt a more passive approach, known as passive fund managers.
Top 10 Fund Managers in India 2024
Here is a list of the best mutual fund managers in India 2024.
| Fund Manager Name | Mutual Fund Name | AUM (in cr) | Number of Schemes | Total Experience |
|---|---|---|---|---|
| Shreyash Devalkar | Axis Mutual Fund | ₹58,601 Cr | 12 | 14 years |
| Aniruddha Naha | PGIM India Mutual Fund | ₹12,503 Cr | 12 | 18+ years |
| R. Srinivasan | SBI Mutual Fund | ₹1,14,343 Cr | 14 | 26 years |
| Sankaran Naren | ICICI Prudential Mutual Fund | ₹1,23,053 Cr | 33 | 26 years |
| Jinesh Gopani | Equities - Axis Mutual Fund | ₹54,466 Cr | 24 | 17 years |
| Sohini Andani | SBI Mutual Fund | ₹36,724 Cr | 4 | 23 years |
| Manish Gunawan | Nippon India Mutual Fund | ₹22,395 Cr | 12 | 20+ years |
| Harsha Upadhyaya | Kotak Mahindra Mutual Fund | ₹50,059 Cr | 14 | 23 years |
| Chandraprakash Padiyar | Tata Mutual Fund | ₹7,906 Cr | 10 | 19 years |
| Ankit Agarwal | UTI Mutual Fund | ₹8,167 Cr | 5 | 15+ years |
Disclaimer: Please note that the above list is for educational purposes only, and is not recommendatory. Please do your own research or consult your financial advisor before investing.
Overview of the Top 10 Fund Managers in India for 2024
Sure, let’s delve deeper into each fund manager’s background and expertise:
Shreyash Devalkar
As the Senior Fund Manager at Axis AMC, Shreyash Devalkar is entrusted with managing significant funds such as the Bluechip Fund, Midcap Fund, and Multicap Fund. He joined Axis AMC in 2016 and quickly rose to prominence, taking over these funds in 2017. Prior to joining Axis, Devalkar honed his skills during a tenure of over five years as a fund manager at BNP Paribas AMC.
Aniruddha Naha
Aniruddha Naha brings over 18 years of comprehensive experience in equity and debt markets to his role as a senior equity fund manager at PGIM India Asset Management Pvt. Ltd. Holding a Master of Finance and Control degree, Naha oversees the PGIM India Midcap Opportunities Fund and PGIM India Diversified Equity Fund, demonstrating his prowess in navigating various segments of the market.
R. Srinivasan
With a career spanning more than 25 years in the equity market, R. Srinivasan holds the esteemed position of Head of Equity at SBI Funds Management. His extensive experience includes stints at renowned institutions such as Future Capital Holding, Principal PNB, and Oppenheimer & Co (later Blackstone), showcasing his deep understanding of market dynamics and investment strategies.
Sankaran Naren
Sankaran Naren’s influence extends beyond managing investment functions for international advisory business and mutual funds. He has been instrumental in shaping his company’s investment strategy, leading to numerous accolades in fund management. Recognized as a prominent figure in the Indian capital markets, Naren’s insights on macroeconomics and market trends are sought after by both local and international media.
Jinesh Gopani
As the Head of Equity at Axis AMC, Jinesh Gopani oversees a diverse portfolio of funds, with the flagship Axis Long Term Equity Fund being among his responsibilities. Gopani’s journey from an equity fund manager to leading the equity division at Axis AMC reflects his expertise in identifying growth opportunities and managing investment portfolios effectively.
Sohini Andani
Sohini Andani’s journey from Head of Research to Portfolio Manager at SBIFM is a testament to her analytical prowess and strategic acumen. With over 11 years of sell-side research experience, Andani brings a wealth of knowledge to her role, allowing her to navigate market complexities and deliver robust investment outcomes for her clients.
Manish Gunawan
Holding a PGDM and a B.Tech, Manish Gunawan’s multifaceted background equips him with a unique perspective in fund management. With previous roles at esteemed institutions such as ICICI Prudential Mutual Fund and Lehman Brothers, Gunawan’s diverse experience adds depth to his approach in analysing market trends and identifying investment opportunities.
Harsha Upadhyaya
With a remarkable 23-year career in equity research and fund management, Harsha Upadhyaya’s expertise is unparalleled. Having worked for prestigious organizations like DSP BlackRock Investment Managers and Prabhudas Lilladher Pvt. Ltd, Upadhyaya’s academic credentials, including degrees from National Institute of Technology and Indian Institute of Management, complement his practical experience, making him a trusted authority in the financial industry.
Chandraprakash Padiyar
Chandraprakash Padiyar’s role as a senior fund manager (equities) at Tata Asset Management is backed by over 19 years of experience managing funds and conducting in-depth research. His completion of all three levels of The CFA Institute’s CFA Program and MBA in Finance from Symbiosis Institute of Business Management underscores his commitment to professional development and excellence in fund management.
Ankit Agarwal
Ankit Agarwal’s diverse educational background spanning economics, management, computer science, and engineering, coupled with his extensive experience in senior positions at prominent financial institutions, exemplifies his versatile skill set. With previous roles at Centrum Capital Ltd, Barclays, Lehman Brothers, and BNP Paribas, Agarwal brings a wealth of expertise to his current position at UTI Mutual Fund, enabling him to navigate complex market landscapes confidently and precisely.
Roles & Responsibilities of Fund Managers in India
As stated above, a portfolio fund manager India’s primary role involves overseeing a fund’s portfolio to meet its goals. Therefore, the best portfolio managers in India responsibilities encompasses the following key aspects:
- Securities Selection: Fund managers play a crucial role in deciding which securities to include in the portfolio. They conduct thorough research to make informed choices. Periodically, they may also replace holdings with better options and determine when to sell.
- Risk Management: The best fund managers in India are accountable for managing the risk within the portfolio. They ensure that the overall risk aligns with the fund’s objectives and mandate.
- Performance Tracking: Fund managers consistently monitor their fund’s performance and may opt to divest from underperforming securities like undervalued stocks. Their objective is to achieve superior returns compared to the benchmark and potentially their peers.
- Compliance Assurance: Regulatory authorities like SEBI (Securities Exchange Board of India) establish policies and regulations governing mutual funds. Fund managers must ensure that the fund complies with all applicable regulations falling under their jurisdiction.
Qualities of the Best Fund Managers in India
Effective fund managers possess several key qualities:
- They excel in analytical understanding, crucial for interpreting data and exploring various strategies to generate results. Understanding market trajectories and their impacts is vital.
- Organizational skills are paramount because they are needed to manage complex data and swiftly adapt to market changes. Prioritisation and attention to detail are essential.
- Experience is a cornerstone attribute, showcasing a successful track record in trading and a grasp of diversification principles.
- Integrity is non-negotiable. Investors rely on fund managers to safeguard their funds and adhere to investment strategies. Ethical conduct is imperative to maintain trust.
- Managing significant amounts of capital demands unwavering self-assurance. With high stakes involved, confidence is key to effectively navigating the pressures of the role.
Factors to Consider Before Choosing a Mutual Fund Manager
When it comes to selecting the right mutual fund manager, prudent decisions revolve around astute portfolio management and investing prowess. Here, we delve into the essential factors that should shape your choice.
- Investment Goals and Risk Appetite: Begin by assessing your investment objectives and tolerance for risk. Ensure that the manager’s strategy and style align with your financial goals, comfort level and portfolio diversification.
- Track Record of Performance: Evaluate the manager’s historical performance over various market conditions. Look for consistent returns and compare their track record to benchmarks and peers.
- Investment Philosophy and Approach: Understand the manager’s investment philosophy and strategy. Verify that it matches your own expectations, whether it involves active stock selection or passive index tracking.
- Fees and Expenses: Scrutinise the mutual fund’s costs, including the expense ratio and any sales charges. Lower fees can have a significant impact on your long-term returns.
- Communication and Transparency: Examine the manager’s communication style and transparency. Regular reporting and clear disclosure of the fund’s holdings and strategy are important for informed investing.
- Manager Experience and Stability: Assess the manager’s experience, especially in the asset classes or sectors you’re interested in. Consider the stability of the funds management team and their commitment to the fund.
Let us now figure out how to become a fund manager in India.
How to Become a Fund Manager in India?
To become a fund manager, you typically need to have a bachelor’s degree in finance, economics, or a related field. Many fund managers also have a master’s degree in business administration (MBA) with a concentration in finance.
Here are some specific steps you can take to become the best fund manager in India:
- Get a bachelor’s degree in finance, economics, or a related field. This will give you a strong foundation in the principles of financial markets and investment management.
- Gain practical experience in the financial sector. Work as a financial analyst, investment banker, or portfolio analyst to build your knowledge and skills.
- Consider pursuing a professional certification, such as the Chartered Financial Analyst (CFA) designation. This certification showcases your expertise in financial markets and investment management fund, enhancing your prospects.
- Apply for fund manager jobs. Be sure to tailor your resume and cover letter to each job you apply for.
Difference Between Active vs Passive Manager
As discussed earlier, the behavioural nature of the fund manager makes them active or passive managers. Therefore, let’s discuss the stark differences between the two.
| Factor | Active Manager | Passive Manager |
|---|---|---|
| Investment Objective | To outperform a benchmark index | To match the performance of a benchmark index |
| Investment Style | Makes frequent buying and selling decisions to try to beat the market. | Buys and holds securities that are included in a benchmark index. |
| Fees | Typically charges higher fees than passive managers | Typically charges lower fees than active managers |
| Risk | Generally takes on more risk than passive managers | Generally takes on less risk than active managers |
| Expected Returns | Has the potential to outperform the market, but also the potential to underperform | Can be expected to match the performance of the market, minus fees. |
To Wrap It Up…
In conclusion, the top mutual funds managers in India play a pivotal role in the world of investments, guiding portfolios towards financial goals and safeguarding against market turbulence. Their expertise, experience, and the strategies they employ are critical factors that can significantly impact the success of an investment fund.
FAQs
The basic difference between a financial advisor and the best mutual fund manager in India is that a mutual fund advisor helps investors choose and invest in mutual funds, while a fund manager manages the investments of a mutual fund.
A good mutual fund manager has a proven track record of success, a deep understanding of the financial markets, and a strong investment philosophy. They are also able to communicate their investment strategy effectively to clients and investors.
Mutual fund managers invest in a variety of assets such as stocks, bonds, and cash using their expertise and risk management strategies.
Fund managers analyse financial data and fundamentals to identify undervalued securities with growth potential.
