Prashant Jain initiates talks to tender his resignation at HDFC AMC

Jain, who is CIO at the fund house, manages Balanced Advantage, Flexi Cap and Top 100 funds at HDFC MF, apart from an India-dedicated scheme under exclusive mandate from a sovereign wealth fund.

The development has come a day after TOI report suggested Jain had become India’s first fund manager to oversee Rs 1-lakh-crore worth equity assets.

Jain has the unique distinction of being the first Indian fund manager to manage a fund for over 25 years.

Launched in 1994, he has been managing Balanced Advantage Fund since its inception. In an earlier interaction with TOI, Jain had said that about 25 years ago, he was managing just around Rs 120 crore worth of assets in this fund. In a quarter of a century, the fund’s total assets have grown by over 350 times.

Jain is a B-Tech graduate from IIT Kanpur, PGDM from IIM, Bangalore and CFA from AIMR, USA. Prior to joining AMC, he worked with Zurich AMC and SBI Mutual Fund.