Mirae Asset Mutual Fund’s Neelesh Surana completes 15 years as a fund manager and CIO

Neelesh Surana joined Mirae Asset Mutual Fund in January 2008. The stock market had been in a bull run since 2003 and this new fund house was all set to launch its first scheme. Little did Surana or his colleagues know what was about to hit them. Their maiden scheme - Mirae Asset India Opportunities (today’s Mirae Asset Large Cap Fund) collapsed along with the rest of the market. By March 2009, it was down 43%. The scheme and the broader market recovered in the next couple of years, but the mutual fund industry went into doldrums. Domestic investors - individuals and institutions kept pulling out money till 2014. Foreign investors took the opposite call, but this was of little consolation to an industry focused on managing domestic money.

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