A fund manager in a mutual fund acts as a financial expert who executes investment strategies and manages mutual fund schemes with a team. These managers earn fees based on the percentage of the average Asset Under Management (AUM).
Before buying a mutual fund scheme, investors must conduct thorough research on the respective mutual fund managers. This blog provides an overview of top fund managers in India with a performance table, including the number of schemes they handle and their average annual return.
Importance of a Fund Manager
The presence of a fund manager in mutual fund schemes is crucial due to their experience in the field of investment. They evaluate market trends, economic conditions, a company’s financials, and other essential information. In addition, they can also make informed decisions and utilise their potential to select and monitor a mutual fund’s portfolio.
With a team of experienced analysts, a fund manager manages the funds of an individual. A fund manager plays an important role because of their potential to conduct in-depth analysis to find assets that can provide long-term growth. They also address risks like inflation, market volatility, and sector-specific challenges to secure their capital.
In this continuously evolving financial market, an experienced fund manager makes adjustments according to market trends to ensure the competitiveness of the fund.
The Roles and Responsibilities of Fund Managers at India’s Top Mutual Fund Companies
The primary job of fund managers is to manage a fund’s portfolio and help to achieve its goals. Here are the responsibilities of mutual fund managers at the top mutual fund companies in India:
- Asset Allocation: Fund managers create and manage the fund’s portfolio by choosing a mix of assets. They try to maintain stability by ensuring a balance of high-risk and low-risk investments and optimising returns.
- Performance Tracking: One of the crucial responsibilities of a fund manager is to track their funds’ performance. Their ultimate goal is to create better returns compared to the benchmark and the competitors.
- Investor Communication: A fund manager is also responsible for maintaining transparent communication with the investors. Fund managers share insights through market reports on a daily basis to help investors evaluate the performance of funds.
- Risk management: Fund managers of mutual funds are also responsible for managing the risks in the portfolio. They make sure that market-associated risks in the portfolio are aligned with the fund’s objectives.
- Compliance: The Securities Exchange Board of India (SEBI) is responsible for implementing policies and regulations regarding mutual funds. The role of fund managers is to make sure that the fund does not violate the SEBI regulations.
Characteristics of India’s Top Fund Managers
Once you have become aware of the roles and responsibilities of a mutual fund manager, now look at the qualities that a fund manager has:
- Analytical Skills: Fund managers have the capability of making effective business decisions. They can analyse large datasets, identify volumes, and find profitable opportunities with the help of their data-driven decisions.
- Expert in Risk Management: Top fund managers are also capable of managing risks effectively while identifying investment opportunities. An expert fund manager makes sure that the fund remains steady in market volatility.
- Adaptability: The market is influenced by changes in policy, global trends, and economic developments. Therefore, it is always important to be adaptive and flexible while managing a fund’s portfolio. Skilled fund managers make adjustments in their investment activities according to the changing market conditions.
- Transparent Communication: A fund manager also prioritises transparent reporting, ethical decision-making, and sharing their views and plans with the clients.
- Patience and Vision: Successful fund managers possess the patience required to achieve positive returns. Best fund managers always focus on their vision to achieve sustainable growth instead of enjoying short-term gains.
Top 10 Best Fund Managers in India for 2025
There are a total of 472 fund managers in the whole nation, who actively monitor the fund performance. Below is the overview of the top 10 of the 472 fund managers in India:
- Sankaran Naren: Sankaran Naren is the Chief Investment Officer (CIO) and Executive Director at ICICI Prudential Mutual Fund. He is a well-known expert in the Indian asset management sector. With over 26 years of experience, Naren has played a pivotal role in shaping ICICI Prudential’s investment strategies and enhancing fund performance. Both the Indian and foreign media outlets showcase his views on market movements and macroeconomics.
- Harsha Upadhyaya: Harsha Upadhyaya graduated from the National Institute of Technology, Suratkal. He has a Bachelor of Engineering degree in Mechanical and a degree in Post Graduate Management in Finance. With two decades of experience in fund management and equity research, Upadhyaya has held key positions at companies such as DSP BlackRock, Reliance Group, UTI Asset Management, and SG Asia Securities. He has also been phenomenal in navigating market cycles.
- R. Srinivasan: R. Srinivasan is serving the role of CIO – Equity in SBI funds, in which he manages multiple funds. He has played an important role in the company since 2009. Furthermore, Srinivasan has more than 30 years of experience in the financial services industry. He has completed his post-graduation in Commerce and a Master’s degree in Financial Management (MFM) from the University of Mumbai.
- Shreyash Devalkar: Shreyash Devalkar holds the position of senior fund manager at Axis Mutual Fund. He has managed key portfolios after joining the company in 2016. He mainly focuses on finding high-growth opportunities in large-cap and mid-cap market segments, using his specialisation to build strong investment portfolios. Currently, Devalkar has to manage multiple funds like bluechip funds, midcap funds, and multicap funds as a senior manager at Axis AMC.
- Chirag Setalvad: Chirag Setalvad has 10 years of experience in fund management and equity research. The vast experience of Setalvad has helped him in his career. He held positions in companies like New Vernon Advisory Services, ING Barings, and HDFC AMC. He used to provide deep insights into equity markets and investment banking.
- Srinivasan Ramamurthy: With 14 years of expertise in equity investment, Srinivasan Ramamurthy is a reputed fund manager at HDFC Asset Management Company. Ramamurthy prioritises investment strategies that emphasise in-depth research and effective asset allocation.
- Shridatta Bhandwaldar: Shridatta Bhandalwar holds the position of Head of Equities at Canara Robeco Mutual Fund. Bhandwaldar used to manage a diverse investment portfolio of equity mutual funds. With 14 years of expertise in the financial sector, he has played a key role in fund management and equity research. Bhandalwar’s balanced approach ensures both value investing and growth. This maximises returns while effectively addressing risks.
- Sohini Andani: With 20 years of industry experience, Sohini Andani is one of the top fund managers in India. Andani holds the position of portfolio manager in SBI Mutual Fund. She is famous for her unique approach to long-term investment and value investing. She held positions in reputed companies like ASK Raymond James & Associates Pvt. Ltd., and Advani Share Broker Pvt. Limited, and K.R Choksey Shares & Securities Pvt. Ltd.
- Rupesh Patel: Rupesh Patel manages equity investments while holding the position of senior fund manager at Nippon India Mutual Fund. His investment strategy focuses on high-quality companies that include substantial growth potential and effective management. Rupesh Patel prioritises long-term investment philosophy.
- Nishit Patel: Holding the position of fund manager at ICICI Prudential Asset Management Company, Nishit Patel prioritises passive investment strategies. He made most of his investments in Exchange-Traded Funds (ETFs). Since joining the firm, Nishit Patel has gained extensive expertise in mutual fund investments and the ever-evolving Indian financial market.
Performance for India’s Top Fund Managers
The table below showcases the performance of the best mutual fund managers in the top 10 mutual fund companies in India including other significant details:
| Fund Manager | Fund House | AUM (in Cr.) | Highest Returns (1 Year) | Number of Schemes |
| Sankaran Naren | ICICI Prudential Mutual Fund | ₹632,421.42 | 22.06% | 27 |
| Harsha Upadhyaya | Kotak Mahindra Mutual Fund | ₹52,286 | 17.08% | 19 |
| R. Srinivasan | SBI Mutual Fund | ₹1,14,343 | 14.39% | 14 |
| Shreyash Devalkar | Axis Mutual Fund | ₹1,03,859 | 17.36% | 6 |
| Chirag Setalvad | HDFC Mutual Fund | ₹1,17,829 | 22.85% | 3 |
| Srinivasan Ramamurthy | HDFC Mutual Fund | ₹1,16,889 | 27.52% | 11 |
| Shridatta Bhandwaldar | Canara Robeco Mutual Fund | ₹88,680 | 23.61% | 16 |
| Sohini Andani | SBI Mutual Fund | ₹36,724 | 16.68% | 2 |
| Rupesh Patel | Nippon India Mutual Fund | ₹43,630 | 21.38% | 4 |
| Nishit Patel | ICICI Prudential Mutual Fund | ₹118,081 | 27.28% | 61 |
How Mutual Fund Managers Make Investments?
The best mutual fund managers in India are highly experienced which helps them to provide insightful perspectives. Let us have a look at how they make investments:
- Best fund managers in India evaluate the stock market fluctuations and implement risk mitigation strategies according to them. These include diversification, position sizing, and hedging. All of these strategies help them reduce potential losses and adapt to market volatility.
- Fund managers also analyse a business’ yearly financial performance where investors are planning to invest. They analyse the performance of the fund in comparison with relevant benchmarks. By doing so, they can keep investors updated about the progress of the fund.
- Top fund managers in India undertake a comprehensive analysis of industries, companies, and other market factors. This helps them to find significant investment opportunities that are in line with the fund’s objectives.
How to Choose the Right Fund Manager?
Choosing the right mutual fund manager is one of the crucial steps in your whole investment procedure. It is advisable to assess the fund manager’s consistent track record of delivering positive returns across various market conditions. In addition, you must also make sure that the fund management style of a particular fund manager is in line with your investment goals.
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