DSP Mutual Fund’s senior fund manager and head of macro strategy, Gopal Agrawal has quit the fund house, industry sources told Moneycontrol.
Vinit Sambre, head of equities at the fund house will oversee schemes managed by Agarwal from June 1, 2020.
In an e-mail informing it’s employees about Agrawal move, Kalpen Parekh, President at DSP MF said: “Gopal has decided to leave the firm.”
“Keeping our commitment to building alpha in these funds, Vinit will now take over all the funds managed earlier by Gopal (DSP Top 100 Equity Fund, DSP Focus Fund and the equity components of DSP Regular Savings Fund & DSP Equity Savings Fund), effective June 1, 2020.
Moneycontrol has a copy of the e-mail.
Agrawal had joined DSP Mutual Fund in July 2018. Prior to joining DSP BlackRock Mutual Fund, Agrawal was Chief Investment Officer-Equity at Tata Mutual Fund. He also worked with Mirae Asset Mutual Fund for nearly a decade where he was the CIO and strategist.
In the last one year period ended May 27, 2020, DSP Top 100 Equity Fund delivered a negative average return of 22.45 percent as against the negative average of 20.81 percent delivered by benchmark S&P BSE 100 TRI, according to Value Research.Another scheme managed by Agarwal, DSP Focus Fund gave a negative average return of 19.68 percent. In comparison, the scheme’s benchmark S&P BSE 500 TRI fell 21.30 percent average return.