HDFC Asset Management Company 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, according to a press release issued by the fund house.
Dalwai brings 15 years of experience in equity research and fund management. As part of the changes to fund management responsibilities, he will manage the equity assets of select HDFC Mutual Fund schemes.
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This included funds such as 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.
He joins HDFC AMC from ICICI Prudential Asset Management Company, where he most recently served as Senior Fund Manager – Equity. At ICICI Prudential Mutual Fund, Dalwai managed the Balanced Advantage Fund, Infrastructure Fund, Large & Mid Cap Fund, Multi Asset Allocation Fund and Quality Fund until May 2026.
In June 2026, ICICI Prudential Mutual Fund announced changes to the fund management of six schemes through a notice-cum-addendum. Dalwai was replaced by Lalit Kumar in the ICICI Prudential Large & Mid Cap Fund and by Sanket Gaidhani in the ICICI Prudential Infrastructure Fund. He also exited the fund management team of the ICICI Prudential Balanced Advantage Fund. In the ICICI Prudential Multi-Asset Fund, Antariksha Banerjee replaced Dalwai.
Dalwai was also overseeing the recently launched iSIF Active Asset Allocator Long-Short Fund.
Dalwai joined ICICI Prudential Mutual Fund as an investment analyst in April 2011 and became a fund manager in June 2017. He is a Chartered Accountant and has also cleared CFA Level 3.
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This is the second exit from ICICI Prudential in 2026. In April 2026, Anish Tawakley, who was Co-Chief Investment Officer – Equities at ICICI Prudential Mutual Fund, joined DSP Asset Managers.
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