Fund managers are rockstars of the investment world. They manage mutual funds that pool investors’ money to create a diversified portfolio of financial securities such as stocks, bonds, and other instruments. Known for their distinct investment style, professional fund managers make investment decisions based on the fund’s objectives to outperform the benchmark. Thus, fund managers are key to a mutual fund’s performance. In this blog post, we have listed the top fund managers in India, ranked by Assets Under Management (AUM). As an investor, you can consider the top schemes of fund managers and invest in the scheme that aligns with your investment goals.
Who is a fund manager?
A fund manager is a finance and investment professional responsible for overseeing a fund investment portfolio and making strategic investment decisions to ensure that the fund meets its investment objectives.
A single mutual fund scheme can have multiple fund managers based on experience and the area of specialization. A hybrid mutual fund scheme may have two or more fund managers specializing in debt and equity.
A fund manager’s primary job is to make informed buy, sell, or hold decisions based on research and the market’s pulse.
Top 10 best mutual fund managers in India
Here are the best fund managers in India with the highest AUM:
| Sr No. | Fund Manager | Mutual Fund House | AUM (in Rs. Cr) | Number of Schemes | Experience |
| 1 | Sankaran Naren | ICICI Prudential Mutual Fund | 2,74,973 | 25 | 26 years |
| 2 | R. Srinivasan | SBI Mutual Fund | 1,98,351 | 14 | 26 years |
| 3 | Shreyash Devalkar | Axis Mutual Fund | 1,33,775 | 7 | 19 years |
| 4 | Chirag Setalvad | HDFC Mutual Fund | 1,33,835 | 3 | 22 years |
| 5 | Nishit Patel | ICICI Prudential Mutual Fund | 121,707 | 59 | 9 years |
| 6 | Srinivasan Ramamurthy | HDFC Mutual Fund | 1,14,779 | 14 | 14 years |
| 7 | Shridatta Bhandwaldar | Canara Robeco Mutual Fund | 1,00,392 | 13 | 14 years |
| 8 | Sohini Andani | SBI Mutual Fund | 59,814 | 2 | 19 years |
| 9 | Ashutosh Bhargava | Nippon India Mutual Fund | 55,884 | 11 | 26 years |
| 10 | Rupesh Patel | Nippon India Mutual Fund | 50,000 | 2 | 23 years |
More about the top fund managers in India
1. Sankaran Naren
Sankaran Naren, Chief Investment Officer (CIO) and Executive Director at ICICI Prudential Mutual Fund, is a prominent figure in the asset management industry, with a rich experience of over 26 years. Naren is credited with shaping the investment strategies at ICICI Prudential Mutual Fund.
Known for his contrarian investment style, Naren has been instrumental in developing hybrid mutual fund categories. Besides, his insights on macroeconomics and market trends are well regarded, making him a prominent voice in the Indian capital markets.
Major Funds Managed:
- ICICI Prudential Value Discovery Fund
- ICICI Prudential Balanced Advantage Fund
- ICICI Prudential Top 100 Fund
2. R. Srinivasan
R. Srinivasan, a seasoned fund manager, is the Chief Investment Officer (CIO) for Equity at SBI Mutual Fund. He has over 26 years of experience in the financial services industry, having joined SBI Funds Management in May 2009 as a Senior Fund Manager.
Srinivasan is recognized for his strategic investment approach and has
managed several high-performing funds that have consistently outperformed their benchmarks. His extensive background in equity management and macroeconomic analysis contribute to his reputation as a leading figure in the Indian mutual fund industry.
Major Funds Managed:
- SBI Small Cap Fund
- SBI Focused Equity Fund
- SBI Equity Hybrid Fund
3. Shreyash Devalkar
Shreyash Devalkar is a Senior Fund Manager at Axis Mutual Fund, where he has been managing significant assets since joining the firm in 2016. He specializes in equity investments and oversees a diverse portfolio.
Devalkar’s investment strategy focuses on identifying both large-cap and mid-cap companies with strong growth potential. Under his management, several funds have consistently performed well, making him a respected figure in the asset management community.
Major Funds Managed:
- Axis Bluechip Fund
- Axis Midcap Fund
- Axis Growth Opportunities Fund (formerly Axis Multicap Fund)
- Axis Small Cap Fund
4. Nishit PatelÂ
Nishit Patel is a fund manager at ICICI Prudential Asset Management Company. He specializes in passive funds, particularly Exchange-Traded Funds (ETFs). He joined ICICI Prudential in November 2018 and has since gained significant experience in mutual fund investments and the Indian market.
Major Funds Managed:
- ICICI Prudential S&P BSE Sensex ETF
- ICICI Prudential Nifty 50 Index Fund
- Various other ETFs and index funds
5. Srinivasan Ramamurthy
An acclaimed fund manager with HDFC Asset Management Company, Srinivasan Ramamurthy has 14 years’ experience in equity investments. His investment approach focuses on thorough research and strategic asset allocation, contributing to the performance of the funds he manages.
Major Funds Managed:
- HDFC Balanced Advantage Fund
- HDFC Dynamic PE Ratio Fund of Funds
- HDFC Multi-Asset Fund
6. Shridatta Bhandwaldar
Shridatta Bhandwaldar is the Head of Equities at Canara Robeco Mutual Fund, where he manages a diverse portfolio of equity funds. He has 14 years of experience in the financial sector, with a focus on equity research and fund management.
His approach combines both growth and value investing, aiming for a balanced portfolio that captures upside potential while managing risks effectively. Bhandwaldar’s analytical skills and understanding of market dynamics make him a respected figure in the mutual fund industry.
Major Funds Managed:
- Canara Robeco Bluechip Equity Fund
- Canara Robeco Small Cap Fund
- Canara Robeco Focused Equity Fund
- Canara Robeco Infrastructure Fund
7. Chirag Setalvad
Chirag Setalvad is a senior fund manager at HDFC Asset Management Company. He has over 22 years of experience in fund management and equity research. His extensive expertise and strategic approach to managing equity investments have contributed significantly to the performance of the funds under his management.
Setalvad is recognized for his stock-specific investment approach and for maintaining a diversified portfolio across sectors, focusing on quality management and strong business models.
Major Funds Managed:
- HDFC Mid-Cap Opportunities Fund
- HDFC Small Cap Fund
- HDFC Hybrid Equity Fund
- HDFC Children’s Gift Fund
8. Sohini Andani
Sohini is a prominent Indian mutual fund manager with SBI Mutual Fund. She has 19 years of experience and is known for her unique investment style, combining growth and value investing. Sohini emphasizes a long-term perspective, seeking businesses with sustainable growth potential.
Major Funds Managed
- SBI Bluechip Fund
- SBI Magnum Midcap Fund
9. Ashutosh Bhargava
Ashutosh Bhargava is a seasoned fund manager and the Head of Equity Research at Nippon Life India Asset Management Ltd. He has over 26 years of work experience, with more than 17 years in investment research.
Ashutosh specializes in macroeconomic analysis and employs rule-based investment strategies. His approach focuses on understanding market dynamics and identifying opportunities for long-term growth within various sectors.
Major Funds Managed
- Nippon India Large Cap Fund
- Nippon India Multi Cap Fund
- Nippon India Pharma Fund
10. Rupesh Patel
Rupesh Patel is a senior fund manager at Nippon India Mutual Fund, with a focus on equity investments. His investment strategy emphasizes identifying high-quality businesses with strong management and growth prospects. Rupesh advocates a long-term investment approach, focusing on companies that can significantly scale up their operations.
Major Funds Managed:
- Nippon India Growth Fund
- Nippon India ELSS Tax Saver Fund
- Nippon India ELSS Tax Saver Fund
We have listed the top fund managers in India by AUM. They manage some of the most popular mutual fund schemes in India and are responsible for making buy, sell, and hold decisions for all the financial assets held by the mutual fund scheme managed by them. Here are some of the factors you should consider while choosing a fund manager.
Factors to remember while choosing a fund manager
Returns of a mutual fund scheme are primarily dependent on the portfolio and the portfolio is designed by fund managers. This makes researching the scheme’s fund managers very important as your investment’s performance is dependent on the fund manager’s approach and style of investing. Here are the points you should consider before selecting a fund manager:
Optimal fund managers alter their approach
When it comes to fund management, strategies that work in a bull market will not work in a bear market, and vice versa. Optimal fund managers aren’t rigid about their investment strategies. They can adapt to changing market conditions and alter their investment strategies in line with market trends.
Track past performance, but tread cautiously
A good way to gauge a fund manager’s adaptability is by tracking the past performance. An experienced fund manager will have consistent performance spanning market cycles. You can check the past performance for five years or more to assess how the fund manager altered or failed to modify his/her investment style according to changing market phases.
While checking past performance is a good practice, always remember that past performance does not guarantee future returns.
Understand the manager’s purchasing style
A good way to judge a fund manager’s investment style and strategy is to study the buy, sell, and hold decisions. This will help you understand the rationale behind those decisions.
Conclusion
The returns of your mutual fund investments depend on the fund manager’s investment style. This is why it is important to study the fund manager’s investment style before investing in any mutual fund scheme. We have listed the top 10 fund managers in India by AUM. It is recommended that you learn more about their investment approach before making an investment decision.
