HDFC AMC appoints Ihab Dalwai as Senior Fund Manager – Equities

Fresh updates from the financial markets indicate that HDFC Asset Management Firm has appointed Ihab Dalwai as Senior Member – Investments (Equity), effective September 7, 2026. He will be redesignated as Senior Fund Manager – Equities from September 11, 2026.

Dalwai has 15 years of experience in equity research and fund management. He joins HDFC AMC from ICICI Prudential Asset Management Firm, where he most recently served as Senior Fund Manager – Equity. He is a Chartered Accountant and has additionally cleared CFA Level 3.

As part of the changes to fund management responsibilities, Dalwai will manage the equity assets of select HDFC Mutual Fund schemes, including HDFC Balanced Advantage Fund, HDFC Diversified Equity All Cap Active FOF, HDFC Multi Asset Allocation Fund, HDFC Multi-Asset Active FOF and HDFC Aggressive Hybrid Fund.

Moneycontrol had exclusively noted in July that Dalwai was set to exit ICICI Prudential AMC.

In June 2026, ICICI Prudential AMC, through an addendum, announced changes to Dalwai's fund management responsibilities. Lalit Kumar replaced him in the ICICI Prudential Large & Mid Cap Fund, while Sanket Gaidhani took over the ICICI Prudential Infrastructure Fund. Dalwai additionally exited the fund management team of the ICICI Prudential Balanced Advantage Fund, while Antariksha Banerjee replaced him in the ICICI Prudential Multi-Asset Fund. He was additionally overseeing the recently rolled out iSIF Active Asset Allocator Long-Short Fund.

Dalwai, a 2010 graduate of the Institute of Chartered Accountants of India, joined ICICI Prudential AMC in 2011 as an investment market observer and was elevated to fund manager in June 2017.

His exit marks the second senior departure from ICICI Prudential AMC in the last six months. Earlier this year, Anish Tawakley, then Co-Chief Investment Officer – Equities, exited the fund house to join DSP Mutual Fund as CIO.

ICICI Prudential AMC has assets under management of around Rs 11.7 lakh crore. Dalwai was overseeing around five funds at the AMC.