Normally this blog does not do ‘date stamped’ stories…but this is exceptional.

Nilesh Shah’s moving to Icici Prudential from Templeton (circa 2004)  meant some conservative guys could look at Prudential Icici Amc (as it was called then, remember?) for investing.

The earlier image (K-10 or Ketan?) were all the kind of a cowboy image – and we knew that Nilesh would clean / change it! And that he did. He paved the way for good fund managers like Naren Sankaran to join the fund house.

Loss of Pankaj Razdan (he is an aggressive sales guy), now losing a good fund manager (he actually used to handle debt in his earlier job) – as well as a good CIO does not augur well for I Pru (Icici Prudential as it is called now) Amc…nor for its unit holders…I would be worried…not yet sure how to react.

Currently, I am not reacting…and advising friends. Did speak to some very senior people..there seems to be no reason to worry or panic.

I hope to pick the panic signals very quickly (if any). Just as a matter of abundant caution – my money is only in Discovery, Dynamic, Infra and Tax. Yup u guessed it right – all Naren funds.

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  1. Nilesh was a good fund manager, i had SIPs running in fund that he managed just because of consistent performance.

    Dont know if it makes sense to continue the SIP, will have to wait to see performance for atleast next 1-2 quarters.

  2. Subra, If fund houses are so dependent on the top management for the performance of their funds then mutual fund investing becomes a risky proposition. With churning of the top mgmt everywhere every 3-4 years top mgmt changes. How does a serious investor take a call then?

  3. knowing this man right from family, i can just say he ‘s grown from rags ……this enables the pillar system of his thinking which makes the investments safe and any fall – proof

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