S. Naren, CIO, ICICI Prudential Mutual Fund, will now manage the fund house’s two largest schemes – ICICI Prudential Balanced Advantage Fund and ICICI Prudential Focused Bluechip Equity Fund. Manish Gunwani, Deputy CIO, who managed these funds until now, has put in his papers.
While ICICI Prudential Balanced Advantage is the largest fund of the fund house with an AUM of Rs19,491 crore, ICICI Focused Bluechip Equity Fund is the third largest fund with an asset of Rs13,494 crore, as on June 2017, shows ValueResearch Online.
Among other schemes, which Naren will manage after Gunwani’s exit, are ICICI Prudential Business Cycle Fund-Series 2, ICICI Prudential Exports and Other Services Fund, ICICI Prudential Growth Fund-Series 1,3, and 7, ICICI Prudential India Recovery Fund-Series 4, ICICI Prudential R.I.G.H.T (Rewards of Investing Generation of Healthy Tax savings) Fund, ICICI Prudential Technology Fund and ICICI Prudential Value Fund-Series 8, 11.
A rough estimation shows that Manish Gunwani managed assets close to Rs35,000 core across all the schemes.
Manish Gunwani has been associated with ICICI Prudential Mutual Fund since 2010.
ICICI Prudential Mutual Fund manages AUM of Rs.2.60 lakh crore as on June 2017.