India's Best Fund Managers

Learning from the masters

Chirag Setalvad has held on to his headstart after picking up the basics from the stalwarts at his fund house

Soumik Kar

Chirag Setalvad was all of 25 when he started his stint as an analyst at HDFC Mutual Fund during its inception. Two years into the fund’s existence, he managed his first fund, HDFC Tax Plan 2000, which had a corpus of Rs.1.5 crore. He left in 2004 to join hedge fund New Vernon Capital, only to come back in 2007. Today, he manages four funds with a corpus of Rs.14,066 crore. The straight shooter readily admits that a fund manager may not always be the smartest person in the room. Then comes the caveat. “It is not always the smartest guy who turns out be the best investor. The guy who is hard-working, afraid of losses and who sticks to common sense is the one who is more successful,” says the 41-year-old. When Setalvad is not making his investors richer with this simple philosophy, he is spending time with his toddler son.