HDFC Mutual Fund’s senior equity manager Srinivas Rao resigns; may join DHFL Pramerica

HDFC Mutual Fund’s Senior Equity Fund Manager Srinivas Rao Ravuri has resigned, and will cease to be the fund manager with effect from May 31, 2019.

Ravuri is likely to join DHFL Pramerica Mutual Fund as Chief Investment Officer (CIO), three mutual fund industry sources told Moneycontrol. However, Ravuri was not available for comment.

Ravuri managed HDFC Equity Opportunities Fund, HDFC Infrastructure Fund, and HDFC Housing Opportunities Fund.

According to market sources, E A Sundaram, CIO of equities at DHFL Pramerica Mutual Fund has relinquished his duties and Ravuri may take over as CIO.

An e-mail sent by Moneycontrol to DHFL Pramerica remained unanswered. Fund officials also did not respond to calls made by Moneycontrol to confirm E A Sundaram’s exit.

Ravuri has nearly 24 years of experience in equity research and fund management. He has been the Senior Fund Manager of Equities at HDFC Mutual Fund since October 2004.

Prior to that Ravuri served as a Senior Analyst at Motilal Oswal Securities from July 2003 to September 2004. He has also worked with Edelweiss Capital and Securities Capital Investments (I).