Featured, Mutual Funds

Stake Of Star Fund Manager Prashant Jain Is Worth 168 Crore Rupees

Star Fund Manager, Prashant Jain, HDFC Asset Management Company Ltd, now has ESOPs (Employee Stock Options) worth 168.43 crore Rupees.

Mr. Jain, the Chief Investment Officer, Executive Director and Fund Manager at the HDFC AMC, who owns 9,28,000 shares, now has the stake worth 168.43 crore Rupees after the AMC’s bumper listing.

Prior to being the CIO, Executive Director and Fund Manager at the AMC, Jain served as the Head of Equities from June 20, 2003, to June 30, 2004. He joined the company on June 20, 2003.

He worked as the Chief Investment Officer, Head of Funds Management, and Fund Manager at Zurich Asset Management Company (India) Private Limited from July 1993 to June 19, 2003, before joining the HDFC Mutual Fund. Before that, he served as Fund In-Charge at SBI Mutual Fund from 1991 to 1993.

The Star Fund Manager of HDFC MF has the wide experience in fund management and research. He has completed CFA (Chartered Financial Analyst) from AIMR and PGDM from the Indian Institute of Management Bangalore, and B. Tech from the Indian Institute of Technology, Kanpur, according to Bloomberg.

The ESOPs allocated to Milind Barve, HDFC Mutual Fund’s Managing Director, who owns 11.7 lakh shares are now worth 212.35 crore Rupees.

The AMC’s fund manager, Shobhit Mehrotra, who owns 3,71,200 shares now worth 67.37 crore Rupees, and the fund manager Chirag Setalvad owns 3,36,000 shares now worth 60.98 crore Rupees.

HDFC Mutual Fund closed 65 percent or 715.15 Rupees higher to 1,815 Rupees on the BSE, on the first day of listing. The AMC’s stock saw the second highest listing achievements in 2018 and 6th highest since 2011, based on available data.

The HDFC Mutual Fund’s public issue, which was subscribed 83.06 times, received bids for 156.19 crore equity shares. The IPO size was 1.88 crore shares.

The outstanding entry of the HDFC Asset Management Company on the stock market has made the AMC’s top employees including the Star Fund Manager Jain richer, reported Money Control.

[The views and opinions expressed in this article are those of the authors and do not necessarily reflect the views and/or the official policy of the website. ]

Bindhu Mol. G loves writing news articles. She excels in SEO articles, technical articles and academic articles. She covers commodities and mutual fund news for OWLT Market.

Leave a Comment

Your email address will not be published. Required fields are marked *