Value, ELSS and Mid Cap funds emerge among the categories with the longest-tenured managers, according to a report by DSP Mutual Fund, which examines manager experience across India’s mutual fund industry.
The report shows that Value Fund managers have the highest average tenure at 2.69 years, followed closely by ELSS at 2.68 years and Mid Cap at 2.60 years. Large & Mid Cap funds follow at 2.58 years, while Focused funds have an average manager tenure of 2.54 years.
At the other end, Banking/Cycle/Special Situation funds have the shortest average manager tenure, at 1.99 years, followed by Business Cycle funds at 2.04 years and
Multi Cap funds at 2.19 years.
But the bigger takeaway from the data is that truly long managerial careers remain uncommon. Across the dataset, only four current managers have more than 20 years of experience. Just 20 managers have more than 10 years of experience managing a scheme, while eight have spent more than 15 years managing a category.
Cafemutual Take
The findings are particularly relevant because a fund’s long track record does not necessarily mean its current manager has been around for the same length of time. In an industry that is only a little over three decades old, fund longevity can sometimes mask relatively short manager tenures.
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