A fund manager’s decisions can directly impact how your mutual fund will perform as he selects the stocks which will be the part of your portfolio. Yet, most investors focus only on the fund name and ignore who is actually managing their money.
A mutual fund manager is the professional responsible for selecting investments, managing the portfolio and making buy or sell decisions to generate returns for investors.
In this guide, we’ll look at the top fund managers in India, how they operate and what you should check before choosing a fund.
Key Takeaways
- A fund manager is a professional who is responsible for all investment decisions, including asset allocation, stock selection and risk management which directly determines a mutual fund’s ability to generate returns and protect against market volatility.
- India’s top fund managers have different styles, such as Sankaran Naren’s contrarian/value approach versus R. Srinivasan or Shreyash Devalkar’s focus on growth and quality compounding.
- Beyond recent returns investors should assess a manager’s long-term track record across different market cycles, their tenure with the specific fund and whether their investment style aligns with the investor’s personal risk appetite.
- Although a manager’s exit can influence a fund’s strategy, AMCs use institutional processes and successor planning to ensure continuity for the investor’s capital.
What Does a Fund Manager Do?
A fund manager is responsible for making all key investment decisions within a mutual fund. They decide where the money gets invested, when to enter or exit positions and how to balance risk and returns.
Role and Responsibilities
A fund manager is responsible for building and managing the fund’s portfolio. This includes:
- Deciding whether to invest in stocks, bonds or specific sectors
- Allocating assets based on market conditions
- Making buy and sell decisions
- Managing risk to protect downside during volatility
Their goal is to generate returns while staying aligned with the fund’s objective.
How Fund Managers Are Compensated
Fund managers earn a fee that is part of the fund’s expense ratio, which is charged as a percentage of the fund’s total assets under management (AUM).
This means the larger the fund size, the higher the total fee collected. While investors don’t pay this separately, it directly affects overall returns.
Top 10 Fund Managers in India 2026
Here’s a quick snapshot of some of the top fund managers in India based on experience, scale and investment approach:
| Name | AMC | AUM (₹ Cr) | Experience | Investment Style |
| Sankaran Naren | ICICI Prudential MF | 720,998.26 | 25+ yrs | Contrarian / Value |
| R. Srinivasan | SBI MF | ₹2,12,631 Cr | 25+ yrs | Growth |
| Shreyash Devalkar | Axis MF | ₹213,920.94 | 15+ yrs | Quality Growth |
| Jinesh Gopani | Axis MF | ₹58,600 Cr | 15+ yrs | Growth / ELSS Focus |
| Harsha Upadhyaya | Kotak MF | ₹198,242.70 | 20+ yrs | Blended |
| Sohini Andani | SBI MF | ₹78,400 Cr | 20+ yrs | Large-cap Focus |
| Rahul Baijal | HDFC MF | ₹86,559.36 | 20+ yrs | Core Equity |
| Manish Gunwani | Nippon India MF | 101,897.06 | 20+ yrs | Large-cap / Hybrid |
| Aniruddha Naha | PGIM India MF | ₹19,254 Cr | 15+ yrs | Mid/Small Cap |
| Ankit Agarwal | UTI MF | ₹15,270 Cr | 15+ yrs | Hybrid / Debt-Equity |
1. Sankaran Naren – ICICI Prudential Mutual Fund
One of the most well-known fund managers in India, Sankaran Naren, follows a contrarian approach—buying when markets are pessimistic and exiting when valuations stretch. With over two decades of experience, he has built a strong track record across market cycles.
2. R. Srinivasan – SBI Mutual Fund
As Head of Equity at SBI Mutual Fund, he manages some of the largest equity and hybrid schemes. His approach is growth-oriented, with a focus on long-term compounding through diversified portfolios.
3. Shreyash Devalkar – Axis Mutual Fund
Known for a quality-growth style, Shreyash focuses on companies with strong fundamentals and consistent earnings. He manages key flagship funds and has built a reputation for disciplined investing
4. Jinesh Gopani – Axis Mutual Fund (Equities)
Jinesh Gopani leads equity strategies with a strong presence in ELSS funds. His approach combines growth with risk control, making him a consistent performer in tax-saving categories.
5. Harsha Upadhyaya – Kotak Mahindra Mutual Fund
As CIO (Equity), he follows a balanced investment approach, combining growth and value. His experience across cycles reflects in stable portfolio construction.
6. Sohini Andani – SBI Mutual Fund
One of the leading female fund managers in India, Sohini Andani, focuses on large-cap investing with a structured and research-backed approach.
7. Rahul Baijal – HDFC Mutual Fund
Rahul Baijal manages large-cap strategies and is known for a steady, core equity approach. His portfolios are typically well-diversified with a long-term focus.
8. Manish Gunawan – Nippon India Mutual Fund
With over two decades of experience, he focuses on large-cap and hybrid strategies. His strength lies in maintaining a balance between risk and return.
9. Aniruddha Naha – PGIM India Mutual Fund
A specialist in mid and small-cap investing, Aniruddha Naha focuses on identifying high-growth opportunities early while managing downside risks.
10. Ankit Agarwal – UTI Mutual Fund
Ankit Agarwal brings a mix of debt and equity expertise, making him well-suited for hybrid strategies. His approach focuses on stability along with steady returns.
Best Fund Managers in India by Category
Different fund managers stand out across categories based on their expertise and consistency. Here’s a quick way to look at some of the top fund managers in India by segment:
Best Equity Fund Managers
- Sankaran Naren
- R. Srinivasan
- Jinesh Gopani
Best Debt Fund Managers
- Mahendra Jajoo – Mirae Asset Mutual Fund
- Rakesh Shetty – Tata Mutual Fund
- Suyash Choudhary – Bandhan Mutual Fund
Best Hybrid Fund Managers
- Sankaran Naren – ICICI Prudential Mutual Fund
- Harsha Upadhyaya – Kotak Mahindra Mutual Fund
- R. Srinivasan – SBI Mutual Fund
How to Evaluate a Fund Manager Before Investing
Choosing the right fund manager goes beyond checking recent returns. A few simple checks can help you avoid poor decisions and stay aligned with your goals.
1. Track Record Across Market Cycles
Look at performance over 3, 5 and 10 years—not just the last year. Compare returns with the benchmark index to see if the manager has consistently added value across different market conditions.
2. Investment Philosophy and Style
Every manager follows a style like value, growth, or a mix. A value-focused manager may underperform in fast bull runs, while a growth-focused one may fall more in corrections. Pick a style that matches your risk level and patience.
3. AUM Size
A very large fund can become harder to manage, especially in mid and small-cap segments. Limited flexibility can affect returns, so check if the fund size fits the category it invests in.
4. Manager Tenure and Stability
Consistency matters. If a fund has seen frequent manager changes, past performance may not be reliable. Always review the latest factsheet to see who is currently managing the fund.
5. Expense Ratio
This is the cost you pay to stay invested. Even small differences in expense ratios can impact long-term returns.
Conclusion
The right fund manager can make a meaningful difference to your mutual fund returns over time. Instead of choosing funds based only on past performance, focus on who is managing them. When reviewing the top fund managers in India, always check their track record, tenure and investment style before investing.
FAQs on Best Fund Manager in India
There is no single “best” manager as performance varies across market cycles and asset classes. Top-rated managers are typically identified by their ability to consistently generate alpha (returns above the benchmark) over a 5 to 10-year period while managing risk effectively.
In India, there are more than 40 AMCs whose fund managers look after thousands of mutual fund schemes. Typically a a AMC employs a team of managers who specialize in different asset classes like equity, debt or hybrid funds.
To become fund managers in India you professional degrees like an MBA in Finance, CA, or are CFA charterholders. SEBI regulations require them to have adequate professional experience and certifications from the National Institute of Securities Markets (NISM) to manage public money.
No, retail investors cannot invest directly with an individual fund manager. You must invest through an AMC via a mutual fund scheme or a Portfolio Management Service (PMS) where the manager executes the strategy on your behalf.
The AMC responsible will hire a new manager for the fund with similar investment philosophy depending upon the category of the fund. Since AMCs follow a institutionalized process to minimize the impact on performance
Different AMCs excel in different areas; for instance, some are known for their value-investing expertise, while others focus on growth or mid-cap stocks. It is better to evaluate an AMC based on its long-term track record, fund house processes and the historical consistency of its investment team.
Disclaimer: Investments in securities markets are subject to market risks. Read all the related documents carefully before investing. The securities quoted are exemplary and are not recommended.
