Top HDFC Mutual Fund Manager Roshi Jain, Managing Rs 1.33 Lakh Crore, Resigns

Roshi Jain, senior fund manager at HDFC Asset Management Company (AMC), has resigned from the fund house, a source from the fund house has confirmed. Jain was one of the key equity managers at HDFC AMC, handling more than Rs 1.33 lakh crore across three large schemes — HDFC Flexi Cap Fund, HDFC Focused Fund and HDFC ELSS Tax Saver Fund. The Flexi Cap Fund alone manages over Rs 91,000 crore. It is the second-largest fund in the flexi cap space.

HDFC Focused Fund manages assets worth Rs 25,140 crore, and HDFC ELSS Tax Saver Fund manages investors’ money worth Rs 17,194 crore. The AUM data is as on October 31,2025.

Jain had taken charge of the funds in July 2022, right after the exit of industry veteran and former CIO Prashant Jain, who served the mutual fund house for 19 years. Before joining HDFC AMC, she worked with Franklin Templeton Investments, Goldman Sachs (London and Singapore), Wipro and S.R. Batliboi & Co., bringing nearly two decades of investment experience with her.

Under her management, all three schemes continued to comfortably outperform their benchmark, the Nifty 500 index, both over one-year and three-year periods. The broader index, Nifty 500, represents the largest 500 companies of the country.

As of November 21, 2025, HDFC Flexi Cap Fund delivered 13.09 per cent in the last year, while the Focused Fund and the ELSS Tax Saver Fund gave 12.45 per cent and 11.5 per cent respectively, way higher than the Nifty 500’s 10.13 per cent return. The three-year numbers displayed a similar trend of outperformance.

We saw similar exceptional performance in the last three-year period. HDFC Flexi Cap-- 21.8 per cent, HDFC Focused Fund-- 21.48 per cent, and HDFC ELSS Tax Saver-- 21.12 per cent, vis-a-vis, Nifty 500's 16.55 per cent returns.

The returns delivered by these three schemes  since inception are as follows:

• HDFC Flexi Cap Fund, launched in January 1995, delivered 18.84 per cent returns

• HDFC Focused Fund, launched in September 2004, gave 16.16 per cent returns

• HDFC ELSS Tax Saver Fund, launched in March 1996, gave 23.11 per cent returns.

HDFC Mutual Fund has not yet officially commented on her exit or who will take over the management of these schemes.