HDFC AMC breaks with the past to shake off laggard tag

Under CEO Navneet Munot, the one-time leader of the mutual fund industry has adopted a mix of investment strategies and products to regain lost ground.

HDFC Asset Management Co. closed 2023 with an increase in market share. This is no mean achievement, considering it comes after three consecutive years of decline. 

If someone needs to be given credit for this turnaround, it is Navneet Munot—the former chief investment officer at SBI Mutual Fund—who joined HDFC AMC as its CEO and MD in February 2021. He replaced Milind Barve, the founding managing director of the mutual fund house who, after steering it to the top in just 11 years, had seen it cede ground to rivals. 

Munot came with a strong performance record; he was part …


Furquan Moharkan

Furquan leads the banking coverage at The Morning Context. A business journalist with eight years of experience and a best-selling author, in his earlier stints as a reporter with the Deccan Herald and a columnist at The Banker, he wrote on banking, financial markets and regulatory affairs. He has extensively covered India's debt market crisis, banking crisis and the fall of Yes Bank.

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