The news of Prashant Jain’s resignation on Friday created ripples in the mutual fund industry. He was the chief investment officer of HDFC AMC, which is currently managing more than ₹4 trillion of assets, for almost 19 years.
Chirag Setalvad, a senior equity fund manager, will assume charge as head of equities at the fund house, and Shobhit Mehrotra, a senior debt fund manager, will take over as head-fixed income. Both will report to Navneet Munot, managing director & CEO of the company.