January 30, 2023

Prashant Bhai is retiring higher than Donald Bradman: Nilesh Shah, CEO, Kotak Mahindra Mutual Fund

Now I do know the sensation which gamers and spectators felt when Donald Bradman introduced his retirement or will really feel when Roger Federer broadcasts his retirement.

Prashant Bhai is a legend. He has been a model ambassador for the mutual fund trade for the final three a long time. Most significantly he’s a real gentleman.

He’s a legend not as a result of he’s the primary fund supervisor to handle greater than Rs 1 trillion in fairness funds, has managed funds for greater than three a long time, or his fund has delivered 4 occasions extra return than the market over an extended interval of 26 years.

Additionally learn | ‘Funding self-discipline over returns chase’, Prashant Jain’s friends weigh on his legacy

He’s a legend as a result of he’s a task mannequin for all of us.

Calm in a sea of storm
The very first thing you discover about him is his heat, genuineness, and humility. Within the worst market correction, he’ll join with a big viewers of anxious traders and distributors together with his calm and measured communication. All the auditorium would really feel his heat and genuineness. Thousands and thousands of traders and distributors have benefited from his sane recommendation over the a long time.

He’s a person of macros in addition to micros. Listening to his interactions with firm managements is a grasp class. He’ll deliver deal with essentially the most vital points with out sounding offensive. So many corporations have benefitted from his sane recommendation – on enterprise challenges to governance points. His enterprise acumen is so good that he was acknowledged by a company legend in his autobiography. To this present day, he stays the one fund supervisor to obtain that honour.

See also  The best insurance policy for a senior citizen: Personal policy or employer’s group policy?

Additionally learn | India’s largest fund supervisor calls it quits. The legacy of Prashant Jain

Prashant Bhai is an analyst and a portfolio supervisor par excellence. His capability to grasp managements, companies, and valuations throughout debt and fairness, throughout market cycles was superior to most on the Avenue. He all the time stood by his conviction and got here out vindicated by the market each time. Whereas the Expertise-Media-Telecom (TMT) bubble in 2000 ended the careers of many fund managers, Prashant Bhai emerged like pure gold from the agni-pariksha. Most lately, Prashant Bhai acquired vindicated within the PSU shares.

Protecting the mutual fund trade’s flag flying excessivePrashant Bhai is a legend as a result of he was all the time there to sort out points and challenges for the mutual fund Business.

On many company governance points, we’ve fought the battle collectively to steer managements to comply with the trail of governance.

Additionally learn | Has Prashant Jain lastly managed to revive HDFC MF’s schemes?

Fund managers are like goalkeepers. They’re remembered for the targets conceded fairly than the targets saved. Possibly, he might write a e book on what number of targets he saved over the a long time. Prashant Bhai all the time whole-heartedly contributed to fixing the challenges confronted by the mutual fund trade from the early days.

Whereas Prashant Bhai is a numero uno on funding, he’s deeply non secular too. He would not eat after sundown. I had the privilege of spending time with Prashant Bhai at Isha Ashram in Coimbatore whereas interviewing Sadhguru. These two days confirmed the profoundly non secular and curious thoughts of Prashant Bhai.

See also  Investment and insurance: The ULIP midcap funds that won the race in 2022

Prashant Bhai is the function mannequin for fund managers and children. I’m certain that HDFC Mutual Fund and your entire mutual fund trade will miss him. Not solely traders and distributors, but in addition friends like us will miss, but fondly keep in mind him.

Prashant Bhai is retiring higher than Donald Bradman. In his final inning, Sir Don acquired out on zero and did not attain the magic common determine of three digits. Prashant Bhai is retiring after a magic efficiency when everyone seems to be asking why now, fairly than why not.

I want all the very best to Prashant Bhai in his subsequent endeavours. I’m certain the market will stay near his coronary heart no matter he does.

Someday after I look again on my work life, one of many sweetest recollections will probably be to have been a recent of a legend like Prashant Jain.