Srinivasan Ramamurthy, Senior Fund Manager – Equities at HDFC AMC, has resigned and ceased to be a key personnel from September 30, 2026. HDFC Mutual Fund had already reassigned his fund management responsibilities across several schemes earlier in September.
Srinivasan Ramamurthy, Senior equities fund manager at HDFC Asset Management Company (HDFC AMC), has resigned from the company and ceased to be a key personnel with effect from the close of business hours on September 30, 2026.
Ramamurthy was associated with several HDFC Mutual Fund schemes, including HDFC Balanced Advantage Fund, HDFC Hybrid Equity Fund, HDFC Hybrid Debt Fund, HDFC Multi-Asset Allocation Fund, HDFC Multi-Asset Active FOF and HDFC Equity Savings Fund, among others.
His departure from these schemes had largely been addressed before his resignation became effective.
HDFC Mutual Fund had announced a fund manager reshuffle effective September 11. Ramamurthy was replaced by Ihab Dalwai in HDFC Balanced Advantage Fund, HDFC Multi-Asset Allocation Fund and HDFC Multi-Asset Active FOF.
He was replaced by Ihab Dalwai in HDFC Diversified Equity All Cap Active FOF, while Ashish Shah took over his responsibility in HDFC Housing Opportunities Fund. Anand Laddha replaced him for equity assets in HDFC Equity Savings Fund and HDFC Conservative Hybrid Fund.
His equity fund management responsibilities in the HDFC Retirement Savings Fund – Equity, Hybrid Equity and Hybrid Debt Plans had also been transferred to Chirag Setalvad with effect from September 1, 2026.
This means the resignation itself does not result in a fresh change in the fund management of these schemes. The relevant responsibilities had already been reassigned before Ramamurthy’s exit.
Ramamurthy had been associated with HDFC AMC since 2021 and had experience across equity research and fund management. HDFC’s earlier scheme documents listed him as a fund manager or co-fund manager across a broad range of equity and hybrid strategies.
What does it mean for you?
The key impact is on the continuity of fund management rather than an immediate change in the schemes’ investment objectives. Since HDFC Mutual Fund had already announced replacement fund managers for the affected schemes, Ramamurthy’s resignation does not by itself require a fresh change in those fund management arrangements.
The more relevant development is who has taken over his responsibilities in each scheme, particularly in large schemes such as HDFC Balanced Advantage Fund and HDFC Multi-Asset Allocation Fund.
