HDFC AMC rejigs fund managers across 8 schemes, including HDFC Balanced Advantage Fund and Aggressive Hybrid Fund

HDFC Asset Management Company (HDFC AMC) has announced a series of fund management changes across several schemes of HDFC Mutual Fund, with the revised appointments taking effect from September 11, 2026.

The changes have been announced through an addendum to the Scheme Information Documents (SIDs), Key Information Memorandums (KIMs) of select schemes and the Statement of Additional Information (SAI) of HDFC Mutual Fund.

As part of the reshuffle, Ihab Dalwai has joined HDFC AMC as Senior Member – Investments (Equity) with effect from September 7, 2026. He has also been designated as a Key Personnel of HDFC AMC and will be re-designated as Senior Fund Manager – Equities from September 11, 2026.

Dalwai will take on equity-related responsibilities across several schemes, while some other funds will also see changes in their fund management teams.

In HDFC Housing Opportunities Fund, Ashish Shah will replace Srinivasan Ramamurthy as fund manager.

There will also be changes in the equity management responsibilities of HDFC Equity Savings Fund. Anand Laddha will take over the management of equity assets from Srinivasan Ramamurthy. Anil Bamboli will continue to manage debt assets, while Arun Agarwal and Nandita Menezes will continue to manage arbitrage assets. Bhagyesh Kagalkar will continue to manage gold and silver instruments.

In HDFC Conservative Hybrid Fund, Anand Laddha will replace Srinivasan Ramamurthy as the manager for equity assets. Anupam Joshi will continue to manage debt assets, while Bhagyesh Kagalkar will continue to manage gold and silver instruments.

For HDFC Multi Asset Allocation Fund, Ihab Dalwai will take over the equity assets from Srinivasan Ramamurthy. Anil Bamboli will continue to manage debt assets, Arun Agarwal and Nandita Menezes will manage arbitrage assets, and Bhagyesh Kagalkar will continue to manage commodities.

In HDFC Multi-Asset Active FOF, Ihab Dalwai will replace Srinivasan Ramamurthy for the management of equity assets. Anil Bamboli will continue to manage debt assets, while Bhagyesh Kagalkar will continue to manage gold ETF schemes.

Gopal Agrawal will continue as the fund manager for overseas investments.

Ihab Dalwai joins HDFC AMC with 15 years of experience. According to the addendum, Ihab Dalwai, 39, is a qualified Chartered Accountant and has cleared CFA Level 3 from the CFA Institute, USA. He holds a B.Com degree and has 15 years of experience as an equity research analyst and equity fund manager.

Prior to joining HDFC AMC, Dalwai was associated with ICICI Prudential Asset Management Company as Senior Fund Manager – Equity from April 4, 2011, to September 4, 2026.

The latest changes mark a significant reshuffling of equity fund management responsibilities across HDFC Mutual Fund's portfolio, with Dalwai taking charge of equity assets in multiple schemes.

HDFC AMC has clarified that all other terms and conditions of the SIDs and KIMs of the schemes, as well as the SAI of the fund, will remain unchanged. The addendum will form an integral part of the respective documents, as amended from time to time.

Disclaimer: This article is written purely for informational purposes and should not be considered investment advice from Upstox. Securities mentioned are illustrative and not recommendations. Investors should do their own research or consult a registered financial advisor before making investment decisions.