Fundalysisby DARKHORSESTOCKS

Fund manager · HDFC

Ashish Shah

Fund Manager and Senior equity Analyst at HDFC. Runs 2 schemes worth ₹3,351 Cr.

  • Fund house

    HDFCThey run their schemes at HDFC.

  • AUM they run

    ₹3,351 CrThe AUM of the schemes they run, as main or co-manager, at the latest month's end, as AMFI reports it. A scheme two people run counts for both.

  • Schemes

    2 now · 0 beforeSchemes they run now, as main or co-manager, and ones they ran before, since Nov 2025.

  • Experience

    20 yearsOver 20 years of experience in Equity Research covering sectors like Automobiles, Telecom, Infrastructure, Aviation and Industrials

Profile(HDFC's SAI, 30 Jun 2026)

About

Role
Fund Manager and Senior equity Analyst
Studied
MMS (Finance) - University of Mumbai, BE - University of Mumbai
Age
46 years
Experience
Over 20 years of experience in Equity Research covering sectors like Automobiles, Telecom, Infrastructure, Aviation and Industrials

Schemes now2

  1. HDFC Infrastructure Fund₹2,251 Cr
  2. HDFC Housing Opportunities Fund₹1,100 Cr

AUM they run(Nov 2025 – Sept 2026)

AUM at month end each month, and its change on the month before
11 months₹ CrChange
Sept 20263,351+44.1%
Aug 20262,325−2.1%
Jul 20262,375−2.8%
Jun 20262,444+2.1%
May 20262,393−1.0%
Apr 20262,416+13.4%
Mar 20262,132−11.9%
Feb 20262,418+2.1%
Jan 20262,367−3.5%
Dec 20252,452−2.5%
Nov 20252,515–
AUM at month end, Sept 2026
₹3,351 Cr
+33.2% since Nov 2025
Fig. 1.The AUM of the schemes Ashish Shah ran at each month's end, each only in the months they ran it, ₹ crore. A scheme two people run counts in full for both. Source: AMFI.

Schemes over time(Nov 2025 – now)

  1. Infrastructure Fund
  2. Housing Opportunities Fund
HDFC2026
Fig. 1.The schemes they ran when, the oldest first: each from the date its fund house gives, or the first document listing them where it gives none, to when they left, coloured by fund house.

Schemes(Nov 2025 – now)

HDFC

2 now · since Nov 2025
  1. HDFC Infrastructure Fund
    Fund manager, equityNov 2025—1y₹2,251 CrSectoral / ThematicTER 1.33%
  2. HDFC Housing Opportunities Fund
    Fund managerSept 2026—2m₹1,100 CrSectoral / ThematicTER 1.40%

Source.Each scheme's Scheme Summary Document at AMFI and its filings at NSE.

Performance(2 schemes)

Growth · Direct plans

Return as manager
–
Beat peers
–
vs peers
–
Longest run
0.9 years
Beat benchmark
Upcoming
Each scheme Ashish Shah ran, against its peers and benchmark over the same months. Source: AMFI. Click a column's header to sort by it.
HDFC Infrastructure Fund
Nov '25–now · 0.9y
−8.41%−1.08%−7.33 pt––
HDFC Housing Opportunities Fund
Sep '26–now · 0.1y
−6.04%−5.26%−0.79 pt––
Fig. 1.Each scheme Ashish Shah ran, against its peers and benchmark over the same months. Source: AMFI.

Career(Jan 2006 – now)

HDFC Asset Management Company Limited

  1. Position not stated
    Feb 2024—2y 9m

JM Financial Institutional Securities Limited

  1. Director
    May 2023—Feb 202410m

Centrum Broking Limited

  1. Sr. Vice President
    Apr 2019—Apr 20234y 1m

IDFC Securities Limited

  1. Director
    Jan 2006—Apr 201913y 4m

Source.HDFC's Statement of Additional Information, as of 30 Jun 2026.