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Manish Banthia gets promoted to CIO-Fixed Income at ICICI Prudential Mutual Fund

After Rahul Goswami left, ICICI Mutual Fund promoted co-head of fixed income Manish Banthia to chief investment officer-fixed income.

With effect from the close of business on June 19, 2023, Goswami will no longer serve as the Chief Investment Officer-Fixed Income, according to information included in an amendment supplied by the fund house.

Given that ICICI MF manages almost 38% of its assets in debt, this is seen as a significant milestone for investors. 2.09 lakh crore of its 5.50 lakh crore total AUM is distributed across 148 debt mutual fund schemes.

Do You Need to Worry?

According to experts, investors shouldn’t worry about anything. Leading financial research company Value Research’s founder and CEO, Dhirendra Kumar, comments on this development: “ICICI Prudential has created a great track record of managing its diversified portfolio of fixed-income mutual funds over the previous 25 years. Investors shouldn’t be concerned about the AMC’s performance in terms of returns or the reliability of the underlying assets. Given their track record and the sizeable fixed-income investing team they have, the asset management business (AMC) probably won’t have any difficulties with succession.

The fact that Banthia has been in charge for the past 18 years and has nearly two decades of rich fund management experience in the asset management industry—most recently as deputy CIO-Fixed Income at ICICI Prudential AMC—is also reassuring. He is very familiar with every step of the fund house’s operation.

In October 2005, Banthia began working with ICICI Prudential AMC.

According to specialists in the field, “his core competency lies in portfolio management, rates trading, and credit research.”

He has effectively anchored key positions at ICICI Prudential AMC, including fixed income trading, credit analysis, and product creation.

With 24 schemes and a total AUM of Rs. 1.47 lakh crore, the second-highest in the market, he has overcome all obstacles and is effectively managing them either alone or with co-fund managers.

Six of the funds that he manages are included on the OLM 50 list in the debt and hybrid categories.

In one of the interviews, Banthia told Outlook Money that “in the previous 8 to 10 years, we have developed a lot of procedures for a variety of things. For instance, we established a section for investment risk many years ago. Additionally, we developed a number of macroeconomic theories that have assisted us in making judgements about duration risk and when it should be greater or lower. We have developed a methodology for the risk associated with debt valuation.

Banthia has been instrumental in enhancing the ICICI Prudential AMC’s fixed income capabilities. He has effectively maintained the fund house’s immunity to credit events and achieved a favourable balance between liquidity, safety, and returns.

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