After being associated with HDFC Asset Management Co Ltd for 19 years, veteran fund manager Prashant Jain has left the fund house. Chief Investment Officer Jain has decided to move on from HDFC AMC and tendered his resignation, the company said in a stock exchange filing.
Who is Prashant Jain?
As chief investment officer, Jain was responsible for the fund house's assets of 4.1 trln rupees as on Jun 30. Popularly known for his 'value' investing style, Jain has been directly managing a few schemes of around 1 trln rupees. Jain was associated with SBI Mutual Fund and later with Zurich Asset Management, which was then acquired by the newly-formed HDFC Mutual Fund in 2003.
At HDFC AMC, Jain actively managed schemes like HDFC Balanced Advantage Fund and Flexi Cap Fund that gave impressive returns to investors.
"Prashant Jain, Chief Investment Officer of the company after 19 years, has decided to move on and has tendered his resignation to the company," the fund house said.
HDFC Mutual Fund, is the third largest asset manager with an assets base of Rs 4.15 lakh crore as of June-end, after SBI Mutual Fund and ICICI Mutual Fund.
(With inputs from agencies)
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