Changes in Fund Manager - December 2025
Dec 5, 2025
The mutual fund industry saw a series of noteworthy fund-manager movements in December 2025. Several actively managed equity schemes underwent leadership changes as fund houses reassigned responsibilities or brought in new managers. In parallel, a number of senior fund managers exited their AMCs, signalling a period of transition across the industry.
This month’s summary includes only actively managed equity and hybrid schemes, and highlights situations where the previous fund manager stepped away entirely from the scheme.
Fund Manager Changes in Actively Managed Funds
Below is a consolidated view of all confirmed fund-manager changes across AMCs in actively managed equity and hybrid funds where the previous manager is no longer associated with the scheme.
Scheme | Previous Fund Manager | Change in Fund Manager |
|---|---|---|
Axis | ||
India Manufacturing, Consumption, Service Opportunities | Multiple | Shreyansh Devalkar (Discontinued as manager due to internal re-alignment) |
Canara Robeco | ||
Balanced Advantage, Multi-Asset Allocation, Overnight Fund | Multiple | Avnish Jain (Added) |
Conservative Hybrid, Equity Hybrid | Multiple | Suman Prasad (Added) |
ICICI Prudential | ||
Business Cycle | Anish Tawakley, Manish Banthia, Manan Tijoriwala | Divya Jain (Added) |
Dynamic Asset Allocation Active FoF | S. Naren, Dharmesh Kakkad, Manish Banthia, Ritesh Lunawat | S. Naren (Discontinued as manager due to internal re-alignment) |
Invesco India | ||
Manufacturing | Amit Ganatra | Nikhil Kale (Added) |
Financial Services | Hiten Jain | Haresh Kapoor (Added) |
ESG Integration Strategy | Taher Badshah | Haresh Kapoor (Added) |
Nippon | ||
Balanced Advantage | Sushil Budhia, Ashutosh Bhargava | Bhavik Dave (Added) |
Multi Asset Allocation | Sushil Budhia, Ashutosh Bhargava | Vinay Sharma (Added) |
Retirement Fund (Income & Wealth) | Sushil Budhia, Ashutosh Bhargava | Ritesh Rathod (Added) |
Others | ||
Sundaram Arbitrage, Conservative Hybrid, Dividend Yield, Global Brand Theme (FoF), Infrastructure Advantage, Large & Mid Cap, Nifty 100 Equal Weight | Multiple | Ashish Aggarwal (Exit) |
HSBC Financial Services Fund | Gautam Bhupal, Harsh Shah, Mayank Chaturvedi | Harsh Shah (Exit) |
Mirae - Multiple debt schemes and debt portfio of hybrid schemes | Multiple | Mahendra Jajoo (Discontinued as manager due to internal re-alignment) |
Edelweiss (Fixed Income schemes) | N/A | Kedar Karnik (Appointed as Senior Fund Manager) |
The Wealth Company Gold ETF | Rouhak Shah | Niranjan Das (Replaces Rouhak Shah due to internal re-alignment) |
Groww ELSS Tax Saver, Multi-Asset Allocation | Multiple | Nikhil Satam (Added) |
Key Fund-Manager Exits from AMCs (December 2025)
After a series of exits in November 2025, December was quieter with the only exit being Ashish Aggarwal from Sundaram Mutual Fund to Nippon Life Insurance.
FAQs
Q: How to interpret fund manager changes?
A: (i) The replacement / exit of a key fund manager is more material than a co-manager addition; (ii) AMCs adopting a team-based fund management approach (ICICI, Invesco) can often mitigate the transition risk via shared mandates; (iii) In case of ELSS, Focused and Flexi-cap funds, manager continuity is especially relevant due to higher level of discretion.
Q: Why do fund manager changes matter?
A: Fund-manager transitions often shape the future direction of a scheme — from sector allocations to risk management style. Investors and advisors typically track such developments closely, especially in actively managed strategies where the manager’s skill plays a crucial role.
Q: Should investors act immediately when a fund manager exits?
A: Usually no. It’s better to monitor the fund for a few months to see how the new manager adjusts the portfolio before making any changes.
What investors and distributors should watch?
Changes in senior personnel may influence fund-house investment philosophy, team stability, and long-term performance across flagship funds. Monitoring such transitions helps investors stay ahead of structural shifts that may not be immediately visible in performance numbers.
For more such insights and a quick, user-friendly platform for distributors, visit Creso - Powering India's Next-Gen Mutual Fund Distributors
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