Anoop Bhaskar to Quit IDFC Mutual Fund, Manish Gunwani to Takeover as New Head of Equity

Jan 25, 2023

Anoop Bhaskar, the current head of equities at IDFC Mutual Fund, is set to depart the fund house after nearly seven years to take a break.

Anoop Bhaskar joined IDFC in April 2016, as a fund manager and has been managing several funds, such as IDFC Core Equity FundIDFC Emerging Businesses FundIDFC Flexi Cap FundIDFC Hybrid Equity Fund and IDFC Sterling Value Fund. Prior to this, he was associated with UTI AMC in 2007 where he served as head of equity, responsible for overall domestic equity fund management. He began his career at Sundaram Asset Management Company Limited as fund manager.

Mr Bhaskar has an experience spanning over 27 years in the mutual fund industry. He made his name by managing small-cap and mid-cap funds, but eventually spanned across equity funds of all types. 

In November last year, Nippon India Mutual Fund had announced that Manish Gunwani the CIO – Equities would be leaving the company after a stint of over five years.

Since Anoop Bhaskar has decided to quit IDFC AMC, he will be replaced by Manish Gunwani as Chief Investment Officer (CIO)- Equities. In this role, Gunwani will have overall responsibility for equity fund management for the fund house. He joined Nippon India MF in 2017. Before this, he served as Deputy CIO-Equity at ICICI Prudential Mutual Fund. At Nippon, he was managing schemes like Nippon India Flexi Cap Fund, Nippon India Growth Fund and Nippon India Balanced Advantage Fund.

In a press release, Mr Vishal Kapoor, CEO, IDFC AMC said, “We are delighted to have Manish Gunwani on board. Manish’s proven expertise and successful track record will further enhance our equity franchise. His leadership combined with our talented equities team and our strong institutional framework will help drive the next phase of growth at our AMC. We take this opportunity to thank Anoop Bhaskar for his contribution to IDFC AMC and for building a strong process-driven equities team, and respect his decision to take a break at this juncture in his career.”

IDFC Mutual Fund is one of India's top ten asset management companies with an average AUM of Rs 1.19 trillion for the October-December 2022 period. Notably, after being acquired by a consortium comprising of Bandhan Financial Holdings Limited (BFHL), GIC, and ChrysCapital, IDFC Asset Management Company would be renamed Bandhan Mutual Fund.

IDFC Mutual Fund is yet to officially announce this development.