Fund managers are finance professionals tasked with managing investment portfolios on behalf of clients or mutual funds. Their primary role involves making informed decisions regarding the buying, holding, and selling of assets such as stocks, bonds, and various other investment vehicles. Through their expertise, fund managers aim to maximise returns while managing risks, ultimately guiding investors toward their financial goals.
In this article, we will explore the characteristics of the best fund managers in India, highlighting their qualifications, strategies, and success stories. Additionally, we’ll provide insights into how you can assess fund managers and choose the right one to help achieve your investment objectives.
What is a fund manager?
A fund manager is a qualified financial specialist who oversees the management of hedge funds, mutual funds, pension funds, trust funds, and other financial entities in addition to putting investment strategies into action. A single person or a group of people can manage funds.
A fee, often expressed as a percentage of average assets under management (AUM), is paid to fund managers for their services. Therefore, putting your trust in a fund manager's expert decision-making regarding investment management entails investing in a fund. Investors can rest easy knowing that their money is in the hands of knowledgeable professionals as a result.
Before purchasing a mutual fund, however, investors should conduct extensive research and evaluate the fund managers' investment philosophy.
Top 10 fund managers in India 2024
The effectiveness of a mutual fund is heavily influenced by the skills and strategies employed by its fund manager. In 2024, India's leading fund managers have showcased remarkable abilities in managing market fluctuations and providing impressive returns for their investors. Discover the top fund managers in India:
Fund Manager Name | Mutual Fund Name | AUM (in ₹ Cr) | Number of Schemes | Total Experience |
Sankaran Naren | ICICI Prudential Mutual Fund | Rs. 1,23,053 | 33 | 26 years |
R. Srinivasan | SBI Mutual Fund | Rs. 1,14,343 | 14 | 26 years |
Shreyash Devalkar | Axis Mutual Fund | Rs. 58,601 | 12 | 14 years |
Jinesh Gopani | Axis Mutual Fund (Equities) | Rs. 54,466 | 24 | 17 years |
Harsha Upadhyaya | Kotak Mahindra Mutual Fund | Rs. 50,059 | 14 | 23 years |
Rahul Baijal | HDFC Mutual Fund | Rs. 36,981 | 7 | 21 years |
Sohini Andani | SBI Mutual Fund | Rs. 36,724 | 4 | 23 years |
Manish Gunawan | Nippon India Mutual Fund | Rs. 22,395 | 12 | 20+ years |
Aniruddha Naha | PGIM India Mutual Fund | Rs. 12,503 | 12 | 18+ years |
Ankit Agarwal | UTI Mutual Fund | Rs. 8,167 | 5 | 15+ years |
Details about top 10 fund managers in India for 2024
According to data, there are 472 mutual fund managers in India. The highest assets under management and the category of active fund management are the two factors which are considered while choosing top fund managers.
The top 10 fund managers, out of 472, according to assets under management are:
1. Sankaran Naren
Naren is in charge of the mutual fund and foreign advisory business's investing operations. He has been instrumental in developing and carrying out the company's overall investment strategy. Naren is a well-known personality in the Indian capital markets, and both domestic and foreign media outlets regularly highlight his observations on macroeconomics and market movements.
2. Srinivasan R
A reputable and very experienced fund manager is R. Srinivasan. He is currently employed with SBI Funds Management as the Head of Equity. As a Senior Fund Manager, Srinivasan joined SBI Funds in May 2009, bringing with him over 26 years of experience in the stock market. He has experience working with firms such as Oppenheimer & Co (later Blackstone), Principal PNB, and Future Capital Holding.
3. Gopani Jinesh
Axis AMC's Head of Equity is Jinesh Gopani. Among the funds he manages is the flagship Axis Long Term Equity Fund. He is in charge of a broad array of funds. Gopani's progression from managing equity funds to spearheading the Axis AMC equity division is indicative of his proficiency in pinpointing expansion prospects and skillfully overseeing investment portfolios.
4. Devalkar Shreyash
Shreyash Devalkar is tasked with overseeing important funds like the Multicap Fund, Bluechip Fund, and Midcap Fund in his capacity as Senior Fund Manager at Axis AMC. After joining Axis AMC in 2016, he gained notoriety fast and assumed control of these assets in 2017. Devalkar spent more than five years honing his craft as a fund manager at BNP Paribas AMC before joining Axis.
5. Upadhyaya Harsha
Harsh Upadhyaya has managed funds and conducted stock research for 23 years. He has held positions with companies such as Prabhudas Lilladher Pvt. Ltd. and DSP BlackRock Investment Managers. He received his mechanical bachelor's degree from the National Institute of Technology, Suratkal. Additionally, he graduated from the Indian Institute of Management in Lucknow with a Post Graduate Management degree in Finance.
6. Baijal Rahul
Rahul Baijal graduated from Delhi College of Engineering with a bachelor's degree in engineering and the Indian Institute of Management (IIM) Calcutta with a postgraduate diploma in management (MBA). Prior to joining Sundaram Mutual Fund, he worked for companies including TVF Capital, HSBC Securities, Credit Suisse Securities, Bharti AXA Life Insurance, and Standard Chartered Bank to obtain knowledge in the financial industry.
In 2007, Sohini Andani began working at SBIFM as the Head of Research. She was given a promotion to Portfolio Manager in 2010. She was employed at ING Investment Management as a senior research associate prior to joining SBIFM. She has worked in sell-side research for more than 11 years.
7. Manish Gunawan
Mr. Manish Gunawan is a B.Tech and PGDM holder. He had previously held positions at prestigious companies like Lehman Brothers and ICICI Prudential Mutual Fund. Gunawan's wide range of experience gives his analysis of market trends and identification of investment possibilities more nuance.
8. Naha Aniruddha
With a Master of Finance and Control degree, Mr. Aniruddha Naha is qualified. With eighteen years of expertise in both the debt and equities markets, he is the senior equity fund manager at PGIM India Asset Management. Naha is in charge of the PGIM India Diversified Equity Fund and the PGIM India Midcap Opportunities Fund.
9. Ankit Chauhan
Mr. Ankit Agarwal is a finance (PGDM), computer science and engineering, and economics management graduate. Before joining UTI Mutual Fund, he held positions as Senior Vice President-Fund Manager at Centrum Capital Ltd., Assistant Vice President at Barclays, Senior Analyst at Lehman Brothers in London, BNP Paribas, and Senior Analyst at D.E. Shaw & Co.
10. Sohini Andani
Sohini Andani is a Fund Manager with qualifications that include a Bachelor of Commerce (Honours) and a Chartered Accountancy designation. Prior to her current role at SBI Mutual Fund, Ms. Andani gained extensive experience in the financial services industry through positions at ING Investment Management Pvt. Ltd., ASK Raymond James & Associates Pvt. Ltd., LKP Shares & Securities Ltd., Advani Share Broker Pvt. Ltd., CRISIL, and K R Choksey Shares & Securities Pvt. Ltd.
Performance table of best fund managers in India
Here is a performance table for the Best Fund Managers in India for 2024:
Fund Manager | Fund House | Funds Managed | 1-Year Returns (%) | 3-Year Returns (%) | 5-Year Returns (%) |
Prashant Jain | HDFC MF | HDFC Equity Fund, HDFC Top 100 Fund | 12.8% | 16.5% | 14.2% |
Neelesh Surana | Mirae Asset MF | Mirae Asset Emerging Bluechip Fund, Mirae Asset Tax Saver Fund | 10.2% | 18.7% | 17.5% |
Kalpen Parekh | DSP MF | DSP Equity Opportunities Fund, DSP Tax Saver Fund | 14.1% | 15.9% | 13.8% |
Sankaran Naren | ICICI Prudential MF | ICICI Prudential Bluechip Fund, ICICI Prudential Value Discovery Fund | 11.6% | 14.3% | 12.9% |
Anoop Bhaskar | UTI MF | UTI Equity Fund, UTI Mastershare Unit Scheme | 13.5% | 17.2% | 15.1% |
Vinit Sambre | DSP MF | DSP India T.I.G.E.R. Fund, DSP Focus Fund | 15.8% | 19.4% | 16.7% |
Harsha Upadhyaya | Kotak MF | Kotak Bluechip Fund, Kotak Equity Opportunities Fund | 12.1% | 15.6% | 14.5% |
Rahul Baijal | Nippon India MF | Nippon India Multi Cap Fund, Nippon India Large Cap Fund | 11.9% | 16.8% | 15.3% |
Suresh Soni | Baroda MF | Baroda ELSS 96, Baroda Multi Cap Fund | 10.7% | 14.1% | 13.2% |
Vetri Subramaniam | UTI MF | UTI Value Opportunities Fund, UTI Dividend Yield Fund | 14% | 18.44% | 18.68% |
Qualities of the best fund managers in India
The special abilities, know-how, and character attributes of successful fund managers enable them to navigate challenging financial markets and produce superior outcomes. The following are some essential traits of the top fund managers:
Analytical prowess: Making wise business decisions requires the capacity to analyse massive volumes of data, identify trends, and derive insightful information.
Managed approach: World-class fund managers adhere to a managed investment process, preserving objectivity and eschewing emotional defects that may cause poor judgement.
Proficiency in risk management: Outstanding fund managers possess effective risk management skills. They have a strong understanding of risk and use tactics to minimise potential losses while maximising opportunities.
Flexibility: The top fund managers are able to adjust their investment plans in response to shifting market conditions, which keeps their portfolios robust and in line with expanding market trends.
Ongoing education: Successful fund managers are lifelong learners who are always looking for new knowledge and keeping up with emerging trends, legislative changes, and business advancements.
Communication skills: Fund managers need to be able to effectively communicate in order to share their ideas, financial plans, and results with partners and clients.
Roles and responsibilities of fund managers in the best mutual fund companies in India
Fund managers play a crucial role in the investment landscape, particularly within mutual fund companies. Their expertise not only shapes the fund's performance but also influences investor confidence. Fund managers are responsible for devising strategies that align with the fund's investment objectives while managing risk effectively. Below are two key responsibilities that highlight their importance:
- Portfolio management: Fund managers meticulously analyze market trends and individual securities to construct and maintain a well-diversified portfolio. They make strategic decisions on asset allocation, ensuring that the investment mix is aligned with the fund’s goals. This involves continuously monitoring performance and making adjustments based on market conditions and economic indicators.
- Risk assessment and mitigation: A critical responsibility of fund managers is to assess the risks associated with different investments. They utilise various tools and techniques to evaluate market volatility, credit risk, and economic shifts. By implementing risk management strategies, fund managers aim to protect investors' capital while seeking optimal returns, ensuring that the mutual fund remains resilient during fluctuating market conditions
How do mutual fund managers invest?
Mutual fund managers manage the equities of their funds using a disciplined and regulated financial approach. The following steps are typically included in their business process:
1. Define investment goals and risk profile
Fund managers formulate investment goals and risk variables in accordance with the fund's mission and customer preferences.
2. Conduct comprehensive research
To identify potential investment opportunities that align with the fund's objectives, a great deal of research is done on a variety of industries, businesses, and companies.
3. Conduct in-depth study
Fund managers select equities that satisfy the investment criteria of the fund to establish a well-diversified portfolio based on their research and analysis. They keep a regular eye on the stock and adjust it as the market conditions change.
4. Create and handle the portfolio
To reduce potential risks, fund managers use a variety of risk management strategies, including diversity, hedging, and position sizes.
5. Risk management
To reduce potential losses and control stock volatility, fund managers use a variety of risk management strategies, including diversity, hedging, and position sizes.
6. Success evaluation and reporting
Fund managers furnish customers with monthly reports that assess the performance of their investments based on applicable benchmarks.
Why do fund managers play an important role?
Professional fund managers with a wealth of knowledge oversee mutual funds; they diversify the portfolio and keep a close eye on performance under various market conditions. An experienced professional typically oversees the day-to-day operations of the fund and implements his investment plan as the fund manager. Making investment decisions and achieving the fund's investment goals are the responsibilities of a fund manager. To make wise investment selections, they examine market patterns, corporate financial statements, economic indicators, and other pertinent information. A single person or a group of persons can administer the funds.
The performance of a mutual fund is primarily determined by the knowledge and abilities of its fund manager. A mutual fund manager with success can surpass benchmark indices and rivals by demonstrating research-driven analytical abilities.
Mutual funds fall into one of two categories: passive or active fund management.
By mimicking the composition of a given index, passive fund managers seek to replicate the performance of that index and match its returns.
Conversely, active fund managers actively choose individual stocks in an effort to outperform the market as a whole. Give us some more details about the distinctions between passive and active fund management.
Difference between an active and a passive Fund Manager
Understanding the distinction between active and passive fund managers is essential for investors. Active fund managers take a hands-on approach, actively selecting securities and making investment decisions based on research, market analysis, and economic trends. Their goal is to outperform market indices by leveraging their expertise and insights. In contrast, passive fund managers aim to replicate the performance of a specific market index by investing in the same securities that comprise that index. Given below are the key points of difference:
Feature |
Active Fund Manager |
Passive Fund Manager |
Management style |
Hands-on, actively managing investments |
Hands-off, replicating market indices |
Investment strategy |
Research-driven, seeks to outperform |
Index-tracking, aims for market returns |
Trading frequency |
Frequent trading to adjust portfolios |
Minimal trading, low turnover |
Fee structure |
Generally higher fees due to active management |
Typically lower fees due to passive approach |
Risk and return potential |
Higher risk, potential for higher returns |
Lower risk, expected to match index performance |
Factors to consider before choosing a mutual fund manager
The following aspects must be taken into account while selecting a Top Fund Managers in India to handle your finances:
1. Investment goals and risk appetite
When selecting a mutual fund manager, it's crucial to align their investment approach with your personal financial goals and risk tolerance. Understand the manager's investment strategy and how it fits your risk profile.
2. Track record of performance
Examine the mutual fund's historical performance, including its returns, risk-adjusted metrics, and consistency over time. This can provide insights into the manager's ability to navigate different market conditions.
3. Investment philosophy and approach
Familiarise yourself with the mutual fund manager's investment philosophy, decision-making process, and the underlying strategies they employ. Ensure that their approach aligns with your investment preferences.
4. Fees and expenses
Carefully review the mutual fund's expense ratio, which includes management fees, administrative costs, and other charges. Higher fees can significantly impact your long-term returns, so it's essential to find a balance between performance and cost-effectiveness.
5. Communication and transparency
Assess the mutual fund manager's level of communication and transparency. Look for clear and regular updates on the fund's performance, portfolio composition, and any changes in the investment strategy.
6. Manager experience and stability
Consider the mutual fund manager's experience, track record, and the stability of the investment management team. Longer tenures and a consistent team can provide a sense of continuity and expertise.
Conclusion
In conclusion, investors must make a critical choice when selecting a mutual fund management. These experts are crucial to the management of the fund's assets and the strategic selection of investments made to meet the fund's goals. The long-term performance of your assets can also be greatly impacted by the fund manager's track record, philosophy of investing, and attitude to risk management, all of which investors should carefully review.
As usual, it's crucial to conduct independent research before selecting the top fund manager. Unlock the potential of your investments with the Bajaj Finserv Platform, offering over 1000+ mutual fund schemes managed by expert fund managers. Explore a wide range of options along with the option to compare mutual funds, receive personalised recommendations, and enjoy a seamless, user-friendly experience.
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