Hdfc Mf’s Jain 1st To Manage 1l Cr+

Mumbai: The market rally in July has made MF’s Prashant Jain the primary fund supervisor in India to supervise Rs 1-lakh-crore fairness property. Jain manages Balanced Benefit, Flexi Cap and High 100 funds at HDFC MF, aside from an India-dedicated scheme underneath unique mandate from a sovereign wealth fund.

The whole AUM (property underneath administration) of the 4 funds crossed the Rs 1-lakh-crore mark on Tuesday night time and jumped additional by shut of Wednesday’s session that noticed the sensex add one other 1.2%, sources stated.

Whereas there are different fund managers in control of over Rs 1-lakh-crore AUM, a considerable a part of these property are in debt devices, business knowledge confirmed. Amongst main fund managers, R Srinivasan of

MF and S Naren of MF additionally handle property value greater than Rs 1 lakh crore throughout fairness, debt and different devices, business knowledge confirmed.

HDFC Mutual Fund didn’t touch upon the milestone. The listed asset administration firm is inside the necessary silent interval forward of its quarterly outcomes scheduled on Friday.

In response to knowledge collated from mutual fund business analytics agency NGEN Analysis, Balanced Benefit Fund had an AUM of Rs 43,079 crore, whereas Flexicap Fund had Rs 26,511 crore and HDFC High 100 Rs 19,910 crore as of June-end. About 25% of Balanced Benefit Fund’s AUM is in debt devices, newest fund portfolio knowledge confirmed.

Jain additionally has the distinctive distinction of being the primary Indian fund supervisor to handle a fund for over 25 years. Launched in 1994, he has been managing Balanced Benefit Fund since inception. In an earlier interplay with TOI, Jain had stated that about 25 years in the past, he was managing simply round Rs 120 crore value of property on this fund. In quarter of a century, the fund’s complete property have grown by over 350 occasions.