What Do Fund Managers Do?
A fund manager is a financial professional responsible for managing the investments of a mutual fund scheme. Their main role is to make investment decisions that align with the fund’s objectives while aiming to generate suitable returns for investors.
Fund managers are appointed by Asset Management Companies (AMCs) and are supported by research analysts, economists, and market experts. Fund managers analyse market trends, company financials, economic conditions, and industry performance before selecting investments such as equities, bonds, or other securities.
They decide when to buy, hold, or sell assets based on market opportunities and the scheme’s investment strategy. Their decisions directly influence the fund’s performance over time.
Another important responsibility of fund managers is risk management. They ensure that the portfolio remains diversified and balanced according to the fund’s risk profile and investment mandate.
Fund managers continuously monitor portfolio performance and make adjustments based on changing market conditions. They are also required to follow regulatory guidelines prescribed by the Securities and Exchange Board of India.
Their expertise and investment approach play an important role in helping investors work towards long-term financial goals. Effective portfolio management also helps align investments with the fund’s stated objectives and risk profile.
Does Fund Manager Performance Matter?
Yes, a fund manager’s performance can significantly influence the returns and risk profile of a mutual fund. Fund managers make key investment decisions, including asset allocation, stock selection, and portfolio rebalancing.
Their experience, market understanding, and investment strategy can affect how a fund performs across different market conditions. However, investors should not evaluate a fund manager based only on short-term returns.
It is important to assess long-term consistency, risk-adjusted performance, investment style, and how the fund performs compared to its benchmark and peers. A skilled fund manager can help maintain portfolio stability while working towards the fund’s investment objectives.
Top 10 Fund Managers in India
Fund managers play an important role in the mutual fund industry by managing investor money across equity, debt, and hybrid schemes. One of the key parameters used to assess a fund manager’s scale and market presence is Assets Under Management (AUM), which reflects the total value of assets managed by them.
1. Sankaran Naren
Sankaran Naren is one of the most recognised fund managers in the Indian mutual fund industry and is associated with ICICI Prudential Mutual Fund. He manages an approximate AUM of more than ₹7.2 lakh crore across equity and hybrid schemes.
He is known for following a contrarian investment strategy and a long-term value-based approach to investing. Some of the major schemes managed by him include ICICI Prudential Bluechip Fund and ICICI Prudential Balanced Advantage Fund.
2. Shreyash Devalkar
Shreyash Devalkar is a senior equity fund manager at Axis Mutual Fund and manages an approximate AUM of ₹2.14 lakh crore. He is widely known for his quality-growth investment philosophy and disciplined stock selection process.
His investment strategy generally focuses on companies with strong fundamentals, sustainable earnings growth, and efficient management. He manages several equity-oriented schemes that invest across large-cap and diversified market segments.
3. R. Srinivasan
R. Srinivasan is associated with SBI Mutual Fund and oversees an approximate AUM of ₹2.1 lakh crore. He has extensive experience in equity investing and is known for maintaining diversified portfolios focused on long-term wealth creation.
His investment process combines detailed company research with disciplined portfolio construction and risk management. He has managed several large equity schemes across different market cycles.
4. Harsha Upadhyaya
Harsha Upadhyaya is a prominent fund manager at Kotak Mahindra Mutual Fund and manages an approximate AUM of ₹1.98 lakh crore. He has significant experience in managing diversified equity funds across multiple sectors and market capitalisations.
His investment approach combines growth investing with value-oriented stock selection strategies. He is known for maintaining balanced portfolios designed for long-term capital appreciation.
5. Manish Gunwani
Manish Gunwani is associated with Bandhan Mutual Fund and manages an approximate AUM of ₹1.02 lakh crore. He follows a research-driven investment approach focused on identifying companies with long-term growth potential.
His portfolio strategy includes investments across sectors and market capitalisation categories. He has experience in managing diversified equity portfolios in changing market environments.
6. Rahul Baijal
Rahul Baijal is a senior fund manager at HDFC Mutual Fund and manages an approximate AUM of ₹86,559 crore. He primarily focuses on large-cap equity investing and long-term portfolio management strategies.
His investment philosophy emphasises stable businesses with strong earnings visibility and diversified sector exposure. He manages multiple equity schemes designed to deliver long-term capital growth.
7. Sohini Andani
Sohini Andani is one of the leading female fund managers in India and is associated with SBI Mutual Fund. She manages an approximate AUM of ₹78,400 crore across equity-oriented schemes.
Her investment decisions are supported by detailed company analysis and a disciplined portfolio management framework. She is known for managing diversified portfolios focused on long-term investment opportunities.
8. Jinesh Gopani
Jinesh Gopani is a fund manager at Axis Mutual Fund and manages an approximate AUM of ₹58,600 crore. He has significant experience in managing diversified equity and tax-saving mutual fund schemes.
His investment style focuses on long-term growth opportunities while maintaining portfolio diversification and risk management. He oversees schemes that invest across sectors and market capitalisation categories.
9. Aniruddha Naha
Aniruddha Naha is associated with PGIM India Mutual Fund and manages an approximate AUM of ₹19,254 crore. He is known for his research-oriented investment process and experience across multiple equity market segments.
His portfolio strategy focuses on identifying companies with scalable business models and sustainable growth potential. He manages equity schemes designed to balance growth opportunities with portfolio risk management.
10. Ankit Agarwal
Ankit Agarwal is a fund manager at UTI Mutual Fund and manages an approximate AUM of ₹15,270 crore. He oversees hybrid and debt-oriented schemes across different investment categories.
His investment approach focuses on balancing portfolio growth with risk management and asset allocation strategies. He actively monitors market conditions and portfolio positioning to maintain investment discipline.
What Are the Types of Fund Managers?
Fund managers can be classified based on their investment style, asset class, and portfolio management approach. The two main categories are Active Fund Manager and Passive Fund Manager.
These professionals manage mutual fund schemes according to specific investment objectives, risk levels, and market strategies. Their responsibilities differ depending on whether the fund follows an active or passive investment approach.
An Active Fund Manager actively selects stocks, bonds, or other securities with the aim of outperforming a benchmark index. They conduct market research, analyse company financials, track economic developments, and regularly rebalance the portfolio based on market conditions.
Active fund managers are commonly associated with equity funds, hybrid funds, and actively managed debt schemes. Their investment decisions play a direct role in determining fund performance.
A Passive Fund Manager, on the other hand, manages index funds and exchange-traded funds (ETFs) that aim to replicate the performance of a specific market index. Instead of actively selecting securities, passive fund managers mirror the composition of benchmark indices such as the Nifty 50 or Sensex.
This investment approach generally involves lower portfolio turnover and lower expense ratios. Passive fund management has gained popularity among investors seeking long-term market-linked returns with relatively lower costs.
