From Engineer to Fund Manager

 

 

 

aged 52, currently serving as a Senior Fund Manager - Equity at HDFC Mutual Fund in Mumbai, manages an impressive portfolio worth Rs. 1,50,000 crore, distributed amongst four funds. What makes this figure more striking is not just its scale but the trajectory that brought him here, from the narrow lanes of Gudhiyari in Raipur to becoming an entity to be reckoned with in the Indian mutual fund sector. Gopal’s academic journey began at the Hindi medium Mahavir School in Raipur. “I had absolutely no idea about equity markets or mutual funds while growing up,” he recalls. With no family link to the investment world, his exposure came much later. A top-ranking student throughout, he pursued chemical engineering from GEC, Raipur (now NIT Raipur), and worked in the chemical and oil & gas sectors, including a four-year stint at IPCL. At IPCL, Gopal came across Rohit Gupta, a colleague in the finance department and a Chartered Accountant with an all-India rank, who had graduated from Shri Ram College of Commerce, Delhi.

 

His passion for the stock market sparked Gopal’s interest. “It was through him that I began exploring equity investments, and the early success I found gave me the confidence to consider a career in this field,” he recalls. He soon enrolled for ICWA and later pursued an MBA at the prestigious Vinod Gupta School of Management (VGSOM), IIT Kharagpur. Gopal’s shift to finance began in 2002 with UTI Securities as an equity research analyst. His performance led to a role at SBI Mutual Fund, where he managed schemes like Magnum Tax Gain, COMMA Fund, and Midcap Fund. He later joined South Korea–based Mirae Asset as Head of Investments, helping build its India team and staying nearly a decade. He went on to serve as Chief Investment Officer at Tata Mutual Fund and as Head - Macro Investment Strategy at DSP BlackRock. In 2020, amid the uncertainty of the COVID pandemic, Gopal received a call from HDFC Mutual Fund, one of the country’s largest domestic equity fund houses, offering him the role of Senior Fund Manager.

 

“It was a great opportunity to serve a large number of common retail investors in India,” he says. He launched the Large and Midcap Fund with an initial AUM of Rs. 1,900 crore, which has since grown to over Rs. 26,000 crore. “I started the NFOs of the Multicap and Dividend Yield Funds, both of which have delivered decent returns,” he adds. He currently manages the Multicap Fund of Rs. 18,000 crore and the Dividend Yield Fund of Rs. 6,400 crore. In July 2022, as veteran fund manager Prashant Jain left from the role, Gopal started managing the Balanced Advantage Fund, which then had an AUM of Rs. 44,000 crore.

 

“It now stands at over Rs. 1,00,000 crore,” he notes. Together, these four funds account for a total AUM of approximately Rs. 1,50,000 crore, with a monthly SIP inflow of around Rs. 600 crore. He cites investor trust and the responsibility to deliver consistent returns as his core motivation. Reflecting on the broader asset management industry, he believes the future is promising. “With falling fixed deposit returns and rising tax compliance, mutual funds are increasingly becoming a preferred choice. The Indian mutual fund industry is poised for significant growth,” he observes. Gopal is also optimistic about the investment culture in his home city. “Raipur is a business-centric city. The equity culture is gradually growing” he says. On market downturns, he stresses discipline and asset allocation across equity, gold, fixed income, and other instruments, tailored to one’s age, income, and expenses, noting that a sound financial plan can help weather any cycle. Gopal draws inspiration from Peter Lynch and Anthony Bolton, and sees success in impacting the financial futures of millions while continuing to manage money and promote financial literacy.