ICICI Prudential Mutual Fund has announced changes in the fund management responsibilities of several schemes with effect from June 15, 2026. According to reports from the fund house, the changes affect multiple equity and debt schemes across different categories.
The ICICI Prudential Value Fund has demonstrated strong performance with ₹59,000 crore in assets under management (AUM) as of May 2026, positioning it above the category average. The fund has delivered a CAGR return of 17.56% since inception and shown consistent performance across different time periods, with returns of 0.37% (1 year), 16.79% (3 years), and 17.49% (5 years) respectively. The fund has attracted significant investor interest, with 34,213 people investing ₹35.8 crore in the last three months alone, as reported by INDmoney.
The most significant change involves the ICICI Prudential Balanced Advantage Fund, where Ihab Dalwai will be removed from the equity management team. The fund will continue to be managed by Akhil Kakkar (Debt), Sri Sharma (Derivatives), Rajat Chandak (Equity) and Manish Banthia (Debt). Similarly, the ICICI Prudential Infrastructure Fund will see Ihab Dalwai replaced by Sanket Gaidhani. The ICICI Prudential Large & Mid Cap Fund will see Ihab Dalwai removed from the team, with Gaurav Jain and Lalit Kumar taking over.
The ICICI Prudential Multi Asset Fund will undergo the most extensive restructuring, with Masoomi Jhurmarvala remaining as the sole surviving fund manager. The fund will continue to be managed by Sharmila D'Silva (Derivatives and Foreign Securities), Akhil Kakkar, Manish Banthia, Gaurav Chikane (ETCDs), Sri Sharma (Derivatives) and Sankaran Naren. Notably, Ihab Dalwai will be removed from this fund as well.
The ICICI Prudential Quality Fund will see Ihab Dalwai and Masoomi Jhurmarvala removed from the management team. Masoomi Jhurmarvala will continue managing the fund independently, indicating a consolidation of responsibilities within the fund house.
