Introduction
ICICI Prudential Mutual Fund has announced important changes in fund management responsibilities for two of its schemes. The revisions will come into effect from May 1, 2026, as part of the fund house’s periodic review and realignment of investment strategies.
Schemes Affected
The changes apply to the following funds:
- ICICI Prudential Passive Multi-Asset Fund of Fund
- ICICI Prudential Global Advantage Fund (FOF)
These are fund-of-funds (FOF) schemes, meaning they invest in other mutual funds or asset classes rather than directly in stocks or bonds.
Details of Fund Manager Changes
1. Passive Multi-Asset Fund of Fund
- Earlier fund managers:
Sankaran Naren, manish Banthia, Ritesh Lunawat, Dharmesh Kakkad, Nishit Patel, sharmila D’silva - Revised fund managers:
Manish Banthia, Ritesh Lunawat, Nishit Patel, sharmila D’silva
👉 Senior manager Sankaran Naren and Dharmesh Kakkad will no longer be part of this scheme’s fund management team.
2. Global Advantage Fund (FOF)
- Earlier fund managers:
Sankaran Naren, Dharmesh Kakkad, sharmila D’silva, Masoomi Jhurmarvala - Revised fund manager:
Sharmila D’silva (sole manager)
👉 The fund will now be managed by a single fund manager, simplifying decision-making and strategy execution.
Effective Date
All the above changes will be implemented from May 1, 2026.
Why Do Fund Manager Changes Matter?
Fund manager changes are closely tracked by investors because:
- They can influence investment strategy and asset allocation
- Performance consistency may be affected in the short term
- Experienced managers often bring a distinct investment style or philosophy
However, since these are FOF schemes, the impact may be relatively moderate compared to actively managed equity funds.
Industry Context
Such changes are not unusual. Asset management companies periodically reshuffle fund managers to:
- Optimize expertise across schemes
- Align portfolios with evolving market conditions
- Strengthen internal team structures
In this case, the restructuring appears aimed at streamlining fund management and improving efficiency.
Conclusion
The latest update from ICICI Prudential Mutual Fund reflects a strategic reshuffle in two of its fund-of-funds schemes. While the Passive Multi-Asset FoF sees a trimmed team, the Global Advantage FoF shifts to a single-manager structure.
For investors, the key takeaway is to monitor consistency in fund performance post-change rather than react immediately, especially since the underlying investment approach of these schemes is unlikely to change drastically.
Disclaimer:
The views and opinions expressed in this article are those of the author and do not necessarily reflect the official policy or position of any agency, organization, employer, or company. All information provided is for general informational purposes only. While every effort has been made to ensure accuracy, we make no representations or warranties of any kind, express or implied, about the completeness, reliability, or suitability of the information contained herein. Readers are advised to verify facts and seek professional advice where necessary. Any reliance placed on such information is strictly at the reader’s own risk.
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