ICICI Prudential Mutual Fund Changes Fund Managers for Two Funds
ICICI Prudential Mutual Fund announces change in fund management of two funds
The Economic Times
Image: The Economic Times
ICICI Prudential Mutual Fund has announced a change in fund management for the ICICI Prudential Passive Multi Asset Fund of Fund and ICICI Prudential Global Advantage Fund, effective May 1. Notably, Sankaran Naren will no longer manage these funds, with management transitioning to other existing team members.
- 01Sankaran Naren is stepping down as fund manager for both funds.
- 02ICICI Prudential Passive Multi Asset Fund of Fund has an AUM of ₹1,468 crore (approximately $176 million USD).
- 03The fund has outperformed its benchmark with a one-year return of 12.40%.
- 04ICICI Prudential Global Advantage Fund has an AUM of ₹359 crore (approximately $43 million USD) and a one-year return of 33.94%.
- 05The changes are effective from May 1, with the remaining fund management team unchanged.
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ICICI Prudential Mutual Fund has announced a significant change in the management of two of its funds, effective May 1. The ICICI Prudential Passive Multi Asset Fund of Fund, currently managed by Sankaran Naren and a team of others, will now be overseen by Manish Banthia, Ritesh Lunawat, Nishit Patel, and Sharmila D’silva. Meanwhile, the ICICI Prudential Global Advantage Fund (FOF) will transition to management solely by Sharmila D’silva, as Sankaran Naren exits the management team for both funds. As of March 2026, the Passive Multi Asset Fund had an Assets Under Management (AUM) of ₹1,468 crore (approximately $176 million USD), with a one-year return of 12.40%, outperforming its benchmark. The Global Advantage Fund, with an AUM of ₹359 crore (approximately $43 million USD), reported a remarkable 33.94% return over the past year. Despite these changes, all other provisions of the schemes remain unchanged.
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The management changes may affect investor confidence and decision-making regarding these funds, potentially influencing future investments.
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