Top 5 Mutual Fund Managers in India: Masters of Wealth Creation in 2025

Mutual funds have become a cornerstone of wealth creation in India, and behind every successful fund stands a skilled fund manager steering the ship. As of 2025, India’s mutual fund industry boasts an Assets Under Management (AUM) exceeding ₹68 lakh crore, per recent AMFI data, driven by the expertise of top-tier professionals. In this blog, we spotlight the top 5 mutual fund managers in India, delving into their names, designations, organizations, major investments, and key achievements. Whether you’re an investor seeking the best funds or simply curious about the minds shaping India’s financial landscape, this guide is for you.

1. Sankaran Naren

• Name: Sankaran Naren

• Designation: Chief Investment Officer (CIO) and Executive Director

• Organisation / Company: ICICI Prudential Mutual Fund

• Twitter Handle: Not publicly active

• Net Worth as of 2024: Estimated at ₹50-100 crore (based on his senior role and industry stature; exact figures undisclosed)

• Major Investment: Oversees funds like ICICI Prudential Bluechip Fund (₹66,925 crore AUM as of Dec 2024) and ICICI Prudential Value Discovery Fund, with heavy allocations in blue-chip stocks like HDFC Bank, Reliance Industries, and Infosys.

• Key Achievement Details: With over 26 years of experience, Naren is a contrarian investing legend, known for buying undervalued stocks during market downturns.

• Managed ICICI Prudential’s equity AUM of over ₹3 lakh crore by 2025, making it one of India’s largest equity fund houses.

• Pioneered hybrid fund categories, blending equity and debt for balanced returns, earning him accolades like the Morningstar Fund Manager of the Year.

2. Prashant Jain

• Name: Prashant Jain

• Designation: Chief Investment Officer (CIO)

• Organisation / Company: HDFC Mutual Fund (now under 360 ONE Wealth post-resignation in 2022, but legacy tied to HDFC)

• Twitter Handle: Not publicly active

• Net Worth as of 2024: Estimated at ₹60-120 crore (reflecting his long tenure and success at HDFC; now with 360 ONE)

• Major Investment: Historically managed HDFC Equity Fund and HDFC Top 100 Fund, with significant stakes in ICICI Bank, SBI, and Larsen & Toubro, totaling over ₹1 lakh crore AUM at his peak.

• Key Achievement Details: Over two decades at HDFC, Jain delivered annualized returns exceeding 18% in flagship funds, outpacing benchmarks like Nifty 50.

• Known for his value-investing philosophy, he turned HDFC into India’s most profitable AMC by 2022.

• Post-HDFC, his move to 360 ONE Wealth in 2022 marked a shift to boutique wealth management, influencing high-net-worth portfolios.

3. Neelesh Surana

• Name: Neelesh Surana

• Designation: Chief Investment Officer (Equity)

• Organisation / Company: Mirae Asset Mutual Fund

• Twitter Handle: Not publicly active

• Net Worth as of 2024: Estimated at ₹40-80 crore (based on his role and Mirae’s rapid AUM growth)

• Major Investment: Manages Mirae Asset Large Cap Fund (₹40,000+ crore AUM) and Mirae Asset Emerging Bluechip Fund, with key holdings in Reliance Industries, HDFC Bank, and TCS.

• Key Achievement Details: Grew Mirae Asset’s AUM from ₹7,000 crore in 2016 to over ₹1.6 lakh crore by 2025, making it a top 10 AMC in India.

• Delivered consistent 15-20% annualized returns in equity funds, leveraging a growth-oriented strategy.

• Recognized for navigating volatile markets, earning praise from Moneycontrol for his stock-picking acumen.

4. Shreyash Devalkar

• Name: Shreyash Devalkar

• Designation: Senior Fund Manager (Equity)

• Organisation / Company: Axis Mutual Fund

• Twitter Handle: Not publicly active

• Net Worth as of 2024: Estimated at ₹30-60 crore (reflecting his senior role and Axis’s success)

• Major Investment: Oversees Axis Bluechip Fund (₹35,000+ crore AUM) and Axis Midcap Fund, with stakes in Bajaj Finance, Avenue Supermarts (DMart), and Infosys.

• Key Achievement Details: Since joining Axis in 2016, Devalkar has delivered top-quartile returns, with Axis Bluechip Fund averaging 14-16% annually.

• Known for a quality-growth investment style, focusing on companies with strong fundamentals.

• Elevated Axis’s equity AUM to over ₹1.5 lakh crore by 2025, cementing its reputation, as highlighted by Business Standard.

5. Kalpen Parekh

• Name: Kalpen Parekh

• Designation: Managing Director & CEO (previously CIO)

• Organisation / Company: DSP Mutual Fund

• Twitter Handle: Not publicly active

• Net Worth as of 2024: Estimated at ₹45-90 crore (based on his leadership role and DSP’s growth)

• Major Investment: Manages DSP Equity & Bond Fund and DSP Small Cap Fund, with key investments in Bajaj Finance, Titan, and ICICI Bank, overseeing ₹1.5 lakh crore AUM.

• Key Achievement Details: Transformed DSP into a top-tier AMC with a 39.5% CAGR in DSP India T.I.G.E.R Fund over three years, per Cup of Glory.

• Advocated disciplined investing, delivering consistent returns across equity and hybrid funds.

• As CEO since 2021, he’s scaled DSP’s investor base to over 1.5 million folios by 2025.

Also Read: Manu Manek Mundra – The Great Short Seller of the Indian Stock Market

Why These Fund Managers Stand Out in 2025

These five individuals have not only managed massive AUMs but also consistently outperformed benchmarks like Nifty 50 and Sensex through diverse strategies—value investing (Jain, Naren), growth focus (Surana, Devalkar), and disciplined allocation (Parekh). Their ability to navigate market volatility, as seen in the 2024 small-cap surge (AUM up to ₹3.26 lakh crore per AMFI), underscores their expertise.

Choosing the Right Fund Manager for You

When selecting a mutual fund, consider:

• Track Record: Look at 5-10 year returns (e.g., Jain’s 18%+ CAGR).

• Investment Style: Align with your risk appetite—contrarian (Naren) or growth (Surana).

• AUM Size: Larger AUMs indicate trust but may limit agility in smaller funds.

Conclusion

The top 5 mutual fund managers in India—Sankaran Naren, Prashant Jain, Neelesh Surana, Shreyash Devalkar, and Kalpen Parekh—represent the pinnacle of financial acumen in 2025. Their strategic investments in blue-chip stocks, innovative approaches, and stellar achievements make them architects of India’s mutual fund boom. Ready to grow your wealth? Dive into their flagship funds and ride the wave of India’s financial future!