Prashant Jain quits HDFC AMC after a 19-year stint

After a 19-year-stint with the HDFC Mutual Fund, star fund manager Prashant Jain has decided to quit the mutual fund house. The AMC stated that Jain has tendered his resignation. HDFC AMC has decided to appoint Chirag Setalvad as Head -Equities and Shobhit Mehrotra as Head-Fixed income.

“Prashant Jain, Chief Investment Officer of the Company, after 19 years, has decided to move on and has tendered his resignation to the Company. The Board, on the recommendation of Nomination & Remuneration Committee, at its meeting held on July 22, 2022, has approved the appointment of Mr. Chirag Setalvad as Head - Equities and Mr. Shobhit Mehrotra as Head-Fixed income. Both, Mr. Setalvad and Mr. Mehrotra will be reporting to Mr. Navneet Munot, Managing Director & CEO of the Company,” said the statement by HDFC AMC.

Prashant Jain was managing the HDFC Balanced Advantage Fund, Flexi Cap Fund and Top 100 Fund. Jain managed Rs 1-lakh-crore worth equity assets. Jain is a B-Tech graduate from IIT Kanpur, PGDM from IIM, Bangalore and CFA from AIMR, USA.


Chirag Setalvad has been part of the Investment Team since inception of the Company. He has been managing some of HDFC equity schemes for a long time. Mehrotra has been with the Company for over 18 years and is presently managing many Fixed Income schemes.