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What is Prashant Jain & Other HDFC Fund Manager’s Pay / Remuneration ?

May 3, 2016

HDFC Fund Managers RemunerationIn Jan-2016, we decided to check on the remuneration the HDFC Mutual Fund Managers draw. However, our research met dead end due to non disclosure by the Asset Management Company. However, we took a wild guess on what could top Fund Manager Prashant Jain’s Pay. And we were Right in guessing the numbers 🙂

After heated discussion with SEBI, HDFC Mutual Fund and all other AMCs were forced to Disclose the Fund Manager’s Pay / Remuneration. Here is what HDFC AMC disclosed for FY 2015-16. All Figures in INR Lakhs for FY 2015-16

Milind Barve – 625.09 – He is the Managing Director of the Company. Has blessings of Deepak Parkeh 🙂
Prashant Jain – 616.65 – Manages HDFC Top 200 Fund, Equity Fund, Prudence Fund, Infrastructure Fund
Chirag Setalvad – 244.04 – Manages Mid-Cap Opportunities Fund, Balanced Fund, Small and Mid-Cap Fund, Capital Builder Fund, Children’s Gift Fund, Long Term Advantage Fund
Shobhit Mehrotra – 205.46 – All Debt Funds
Anil Bamboli – 191.01 – Debt funds
Srinivas Rao Ravuri – 164.52 – HDFC Growth Fund, Infrastructure Fund and Closed Ended Schemes like RGESS
Vinay Kulkarni – 155.02 – manages HDFC Tax Saver Fund, Core & Satellite Fund, Premier Multi-Cap Fund, Large Cap Fund, etc
Miten Lathia – 113.52 – Manages Capital Builder Fund and Dynamic PE Ratio Fund of Funds

Apart from these Fund Managers, HDFC AMC employs Equity Analysts and here are the Top Paid Equity Analysts in HDFC Mutual Fund and their remuneration in 2015-16.
Bhagyesh Kagalkar – 106.58
Amar Kalkundrikar – 99.44
Chirag Dagli – 88.68
Amit Golchha – 28.04

ESOPs Exercised By HDFC AMC / Mutual Fund Managers at the end of FY2015-16 and the Proceeds the Employees took home is as below All Fingures in INR Lakhs
Milind Barve Managing Director 1996.5
Prashant Jain Executive Director & Chief Investment Officer 1633.5
Shobhit Mehrotra Senior Fund Manager & Head of Credit 1043.1
Chirag Setalvad Senior Fund Manager 635.25
Srinivas Rao Ravuri Senior Fund Manager 635.25
Anil Bamboli Senior Fund Manager 544.5
Bhagyesh Kagalkar Senior Equity Analyst 449.23
Vinay Kulkarni Senior Fund Manager 363
Rakesh Vyas Fund Manager – Foreign Securities & Senior Equity Analyst 350.98
Miten Lathia Fund Manager – Equities & Senior Equity Analyst 272.25

Do check on the Performance of Various Top HDFC Mutual Funds SIP on a 10 Year Rolling CAGR Returns as summarized here.

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