Fund manager · HDFC

Chirag Setalvad

Head - Equities at HDFC. Runs 6 schemes worth ₹1,61,313 Cr.

Fund house
HDFCThey run their schemes at HDFC.
AUM they run
₹1,61,313 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
6 now · 2 beforeSchemes they run now, as main or co-manager, and ones they ran before, since Sept 2024.
Experience
29 yearsCollectively over 29 years of experience, of which 20 years in Fund Management and Equity Research and 4 years in investment banking.

Profile^{(HDFC's SAI, 30 Jun 2026)}

About

Role: Head - Equities
Studied: B.Sc. in Business Administration - University of North Carolina, Chapel Hill
Age: 51 years
Experience: Collectively over 29 years of experience, of which 20 years in Fund Management and Equity Research and 4 years in investment banking.

Schemes now6

HDFC Mid Cap Fund₹1,01,856 Cr
HDFC Small Cap Fund₹40,801 Cr
HDFC Children s Fund₹10,339 Cr
HDFC Retirement Fund Equity Plan₹6,645 Cr
HDFC Retirement Fund Hybrid Equity Plan₹1,530 Cr
HDFC Retirement Fund Hybrid Debt Plan₹143 Cr

AUM they run^{(Feb 2019 – Sept 2026)}

AUM at month end each month, and its change on the month before
12 months	₹ Cr	Change
Sept 2026	1,61,313	+0.3%
Aug 2026	1,60,873	+2.2%
Jul 2026	1,57,397	+3.7%
Jun 2026	1,51,763	+3.8%
May 2026	1,46,233	+2.2%
Apr 2026	1,43,065	+11.2%
Mar 2026	1,28,644	−9.4%
Feb 2026	1,41,991	−40.0%
Jan 2026	2,36,825	−0.2%
Dec 2025	2,37,305	+68.6%
Nov 2025	1,40,777	+1.8%
Oct 2025	1,38,330	+4.9%

AUM at month end, Sept 2026

₹1,61,313

+16.6% since Oct 2025

Fig. 1.The AUM of the schemes Chirag Setalvad 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^{(Apr 2007 – now)}

HDFC20082012201620202024

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^{(Apr 2007 – now)}

HDFC

6 now · since Apr 2007

HDFC Mid Cap Fund
Fund managerJun 2007—19y 5m₹1,01,856 CrMid CapTER 0.76%
HDFC Children s Fund
Fund manager, equityApr 2007—19y 7m₹10,339 CrChildren'sTER 1.04%

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

Performance^{(8 schemes)}

Growth · Direct plans, Regular before 2013

Return as manager: +15.04%
Beat peers: 2 of 4
vs peers: +1.04 pt
Longest run: 19.5 years
Beat benchmark: Upcoming

Each scheme Chirag Setalvad ran, against its peers and benchmark over the same months. Source: AMFI. Click a column's header to sort by it.

HDFC Aggressive Hybrid Fund	Apr '07–Jul '25 · 18.3y	+11.09%	+12.84%	−1.75 pt	–	–
HDFC Children s Fund	Apr '07–now · 19.5y	+13.41%	+7.58%	+5.83 pt	–	–
HDFC Mid Cap Fund	Jul '07–now · 19.3y	+16.67%	+13.61%	+3.06 pt	–	–
HDFC Small Cap Fund	Jun '14–now · 12.3y	+17.52%	+18.49%	−0.97 pt	–	–
HDFC Flexi Cap Fund	Dec '25–Feb '26 · 0.2y	−1.71%	−3.62%	+1.92 pt	–	–
HDFC Retirement Fund Hybrid Equity Plan	Sep '26–now · 0.1y	−4.42%	−4.75%	+0.33 pt	–	–
HDFC Retirement Fund Hybrid Debt Plan	Sep '26–now · 0.1y	−2.03%	−4.75%	+2.72 pt	–	–
HDFC Retirement Fund Equity Plan	Sep '26–now · 0.1y	−5.37%	−4.54%	−0.83 pt	–	–

Fig. 1.Each scheme Chirag Setalvad ran, against its peers and benchmark over the same months. Source: AMFI.

Works with^{(2 now)}

Anupam JoshiRetirement Fund Equity Plan · Retirement Fund Hybrid Equity Plan · Retirement Fund Hybrid Debt Plan3 schemes
Anil BamboliChildren s Fund1 scheme

Career^{(Sept 1996 – now)}

HDFC Asset Management Company Limited

Position not stated
Mar 2007—19y 8m

New Vernon Advisory Services Pvt. Ltd

Vice President
Oct 2004—Feb 20072y 5m

HDFC Asset Management Company Limited

Fund Manager
Jul 2000—Aug 20044y 2m

ING Barings N.V., Mumbai

Assistant Manager
Sept 1996—Jun 20003y 10m

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