Know Your Fund Manager: Neelesh Surana, CIO, Mirae Asset Investment Managers

Let's start with your personal story
I hail from Madhya Pradesh, where I completed my Bachelor of Engineering. My father served in the state government, while my mother was a homemaker. Coming from a middle-class background, I was the first in my extended family to venture into the field of finance. My interest sparked during my college days through participating in IPOs during the era of the erstwhile CCI. A couple of experiences during the famous Harshad Mehta bull run acted as sort of Eureka moments, further fuelling my fascination with the stock markets. I chose this profession deliberately, opting to transition to Mumbai for a career in financial services, after completing my MBA.

How did you land up in this job?
I spent a few years in sell-side research before transitioning to the buy-side with a Portfolio Management Service. In 2008, I joined Mirae Asset, where I currently serve as Chief Investment Officer, overseeing the equity investment function with assets under management of approximately Rs 140,000 crore.


Which funds are you currently managing?
Mirae Asset ELSS Fund - Rs 22,000 cr
Mirae Asset Large and Midcap Fund (co-FM along with Ankit Jain) - Rs 34000 cr

What is your investment philosophy and how will you describe your investment strategy?
My investment philosophy revolves around participating in quality businesses at reasonable valuations. Analysing all three aspects—business, management, and valuation is crucial from a risk-reward perspective. Attempt is to avoid outliers such as sub-par quality of business or management, as well as expensive price tags on great businesses. Regarding portfolio construction, I adhere to disciplined diversification to construct a diversified portfolio capable of handling mistakes and delivering decent risk-adjusted returns

What gives you the kick while managing other people's money?
The pressure to generate superior performance vis-à-vis markets and peers is intense, as well as exciting. Overall, the task to assume trusteeship of investors’ wealth and compound it over time is immensely satisfying. An interesting/exciting part of this profession is the constant learning given that the opportunities to create wealth change across businesses and over time.