Top Fund Managers in India 2024

In the dynamic world of finance, fund managers play a pivotal role in guiding investments and shaping portfolios. A fund manager is responsible for managing and adjusting your investment portfolio of securities that a mutual fund holds. In this article, we will share all about top 10 fund managers in India. You’ll also learn the factors you should seek when choosing a fund manager for yourself. 

What is a Fund manager?

A Fund Manager is a financial professional expert responsible for managing investment funds such as mutual funds, pension funds, trust funds, hedge funds, or other financial options. They play an important role in ensuring the fund performs well and meets its investment objectives.

Investing in fund advice from a fund manager gives the investor peace of mind, but the investor should research the fund manager's investment style fully.

Top 10 Best Mutual Fund Managers in India

Here are the names of the top 10 fund managers in India:

Role & Responsibilities of Mutual Fund Manager

A fund manager’s primary responsibility is to manage a fund’s portfolio and achieve its objectives. This responsibility could include the following dimensions:

• Selection of Securities: One of the critical roles of a fund manager is deciding which securities should be held in the portfolio. Therefore, fund managers perform extensive research. Over time, they may also need to replace securities in their fund portfolios with better ones and decide when to sell them.
• Risk Management: Fund managers are also responsible for managing the portfolio’s risk. They ensure that the portfolio’s overall risk is aligned with the fund’s objectives.
• Track Performance: Fund managers must track the fund’s performance regularly and may decide to sell underperforming securities. They aim to get better returns than the benchmark.
• Ensure Compliance: SEBI (Securities Exchange Board of India) frames policies and regulations related to mutual funds. Thus, a fund manager’s job is to ensure that the fund doesn’t violate any rules set by SEBI.

How do Fund Managers Invest?

Fund managers follow a proper investment strategy. Their decisions are backed up by extensive research and market analysis. Here’s how they invest in funds.

• Investment Goal & Risk Profile: The Fund manager establishes a clear investment goal and risk profile of the investor. This helps the fund manager to select the investment option accordingly.
• Research and Analysis: Fund managers do deep research of different sectors and companies, and analyze market trends to identify the best suitable investment opportunities that align with their investment goal. He/she can use advanced tools for data analytics and risk assessment.
• Portfolio Diversification: The fund manager ensures that the portfolio has a mix of assets to reduce risk and market volatility. 
• Monitoring: He/she should regularly review the portfolio's performance against the benchmarks and adjust according to market conditions. This will help him/her easily reach the investment goals.
• Transparency: Fund managers should follow the SEBI rules and regulations to maintain transparency with investors.

Different Strategies That Fund Managers Use

Fund managers use several popular investing strategies to generate the best returns in the market:

• Bottom-Up Approach: In the bottom-up strategy, stocks and other securities are chosen as per their fundamentals, irrespective of their country’s overall economy.
• Top-Down Approach: In the top-down strategy, fund managers and financial analysts consider the country’s economy to pick sectors and companies with the most potential.
• Technical Analysis: In technical analysis, fund managers analyze stocks on the basis of technical parameters such as their past performance. Some managers may also combine this with the fundamental analysis of the company, similar to the bottom-up approach.
• Dividend Analysis: This sort of approach is slightly conservative and suits investors who are seeking regular earnings from their investments through dividends. So, fund managers look at dividend-yielding stocks.
• Against the Tide: The ‘Against the Tide’ approach is slightly contrarian in style. In this approach, investors seek stocks that aren’t well-performing but hold good valuation. As much as this approach offers high returns, it also comes with a high risk.

Factors to Remember While Choosing a Fund Manager

Below are 6 factors listed that you must consider while choosing a fund manager:

• Experience: Experienced fund managers have generally seen the market at all levels. Therefore, they know how to manage the portfolio through thick and thin.
• Past Performance: Examine the fund manager’s track record and analyze their funds’ portfolio performance. Analyze if they are able to match or deliver better returns than the benchmarks or index.
• Investment Style: Consider a fund manager’s investment style and check if their style aligns with your investment objectives. For instance, an aggressive investment style may not suit you if you need a conservative fund.
• Tenure with the Fund: The longer time the fund manager has with a specific fund, the more you can attribute the fund’s performance to them.
• Stability: Check if the fund manager stays with a fund house for a long time. Also, check if they jump from one company to another often. If a fund manager switches their job too often, it’s not a very good sign for the investors.
• Number of Funds Managed: If a fund manager has too many funds on their hands, it could be a negative sign as they may not be able to give proper attention to all of them. Thus, always check the number of funds managed by a fund manager.

Top 10 Best Mutual Fund Managers in India

Here is all about the top 10 fund managers in India.

1. Shreyash Devalkar

Shreyash Devalkar is the Senior Fund Manager of Axis AMC. After joining the AMC in 2016, he took control of significant funds like the Bluechip Fund, Midcap Fund, and Multicap Fund in 2017. 

Prior to this, Mr. Devalkar spent more than 5 years at BNP Paribas AMC as a fund manager. Additionally, he worked as a research analyst for IDFC AMC (July 2008 to January 2011) and IDFC Securities (September 2005 to July 2008).

2. Aniruddha Naha

Mr. Aniruddha Naha is a Master of Finance and Control graduate. He is a senior fund manager at PGIM India Asset Management Pvt. Ltd. Mr. Naha looks over the PGIM India Midcap Opportunities Fund and PGIM India Diversified Equity Fund.

In markets of debt and equity, Aniruddha has more than 18 years of experience. 

3. R. Srinivasan

In May 2009, R. Srinivasan joined SBI Funds Management as a Senior Fund Management. As of now, he is the Head of Equity there.

He has been dealing with the equity market for more than 25 years actively. Mr. Srinivasan has previously worked for companies such as Future Capital Holding, Principal PNB, Oppenheimer & Co, Indosuez WI Carr, and Motilal Oswal.

4. Sankaran Naren

At ICICI, Sankaran is in charge of the investment functions of both the international advisory business and mutual funds. He has a major part in the company’s development and its overall investment strategy.

Naren has won numerous fund management awards for his management and investment strategies. Moreover, his opinions on macroeconomics and markets are often featured in local and international media. 

5. Jinesh Gopani

Jinesh Gopani is the Head of Equity at Axis Mutual Fund. He joined the company in 2009 as an equity fund manager. Later, Gopani was promoted as Head of Equity in 2016.

Jinesh operates and manages the flagship Axis Long-Term Equity Fund. He has previously worked as a portfolio manager for Birla Sunlife AMC, where he managed the alternative assets for the growth, value, and dividend baskets. 

6. Sohini Andani

Sohini joined the SBI Mutual Fund in 2007 as the Head of Research. Later, she was promoted to Portfolio Manager in 2010. Prior to joining SBI Mutual Fund, she worked as a senior research associate in ING Investment Management. 

7. Manish Gunawan

Manish Gunawan is a PGDM and a B.Tech. graduate. Before joining Nippon India Mutual Fund, he worked with ICICI Prudential Mutual Fund at Vicisoft Technologies, Lehman Brothers, Brics Securities, Lucky Securities, SSKI Securities, and Prime Securities as a fund manager and analyst. 

8. Harsha Upadhyaya

Mr. Upadhyaya has 23 years of experience with equity research and fund management. He has worked with reputable organizations like DSP BlackRock Investment Managers and Prabhudas Lilladher Pvt. Ltd, SG Asia Securities, Reliance Group, and UTI Asset Management Co. Ltd in the past. 

He graduated from NIT, Suratkal, with a bachelor’s degree in Engineering in Mechanical. He also completed a Post Graduate Management degree in Finance from IIM Lucknow. He also has a Chartered Financial Analyst designation from the CFA Institute. 

9. Chandraprakash Padiyar

In September 2018, Chandraprakash Padiyar joined Tata Asset Management as a senior fund manager for equities. He has an experience of 19 years in fund management and research. 

He holds an MBA in Finance from the Symbiosis Institute of Business Management, having cleared all three levels of The CFA Institute’s CFA Program. 

10. Ankit Agarwal

Ankit has his graduation degrees in economics management, computer science and engineering, and finance (PGDM). Before joining UTI Mutual Fund, he worked for Centrum Capital Ltd, Barclays, Lehman Brothers, BNP Paribas, and D. E. Shaw & Co. 

Active vs Passive Fund Manager

There are two primary types of investment management strategies that mutual fund managers follow: active management and passive management. 

Active Management

Active management is a strategy that fund managers use to make proactive investment decisions to surpass a specific benchmark or market index. This involves continuous research, analysis, and trading to seize opportunities and achieve higher returns. 

Indian fund managers strive to identify undervalued assets, and time market trends, and adjust the investment portfolio accordingly. They often rely on their expertise and strategies to make strategic investment moves. 

Passive Management

Passive management, also known as index investing, is a strategy where a fund’s portfolio replicates a particular Indian market index, such as the Nifty 50 or the BSE Sensex. 

Rather than trying to outperform a particular index, passive managers aim to replicate the performance of their chosen index. As the portfolio’s composition stays relatively stable, the strategy involves minimal buying and selling. This approach aims to offer consistent, market-matching returns with relatively lower costs. 

How to Become a Fund Manager in India?

Becoming a fund manager in India requires a structured approach that involves education, experience, and certifications. Here are a few steps that you can consider taking to become a fund manager in India:

• Pursue a professional degree in finance, economics, or business to build a strong foundation in finance and investment management. Pursuing an MBA or a master’s in finance will add more benefits to your profile.
• Start by gaining practical experience in the finance sector. You can work as a financial analyst, investment banker, or portfolio analyst to polish up your skills.
• Then, you can pursue a professional certification such as the Chartered Financial Analyst (CFA) designation. This certification will enhance your prospects by showcasing your expertise in financial markets and investment management.
• Now that you’re qualified, start applying for a job as a fund manager. 
• Stay updated with the latest rule and regulation changes in the financial industry, market trends, and investment strategies to maintain a competitive edge.

Conclusion

In conclusion, choosing the right fund manager is an important decision for mutual fund investors. These professionals manage the fund’s assets and make strategic investment decisions to achieve good returns for the fund. 

Therefore, it is extremely crucial for investors to closely look at a fund manager’s track record, investment philosophy, and risk management approach. These factors can significantly impact the long-term performance of your investments. 

FAQs 

1. Who is the best fund manager in India?

Shreyansh Devalkar is the best fund manager in India, as of the July 2024 update. However, there are many fund managers with decades of experience and well-performing funds. 

2. How many fund managers are there in India?

As of January 2024, there are 473 fund managers in India — only 42 of which are women. 

3. What is the salary of a fund manager in India?

A fund manager’s salary can range anywhere between ₹3 lakhs to ₹93.5 lakhs per annum in India. The average annual salary of a fund manager is ₹26.4 lakhs. 

4. Who can be a fund manager in India?

To become a fund manager in India, one needs to have a Bachelor’s degree in finance, economics, or related field. It needs to be followed