Fundalysisby DARKHORSESTOCKS

Fund manager · Nippon

Dhrumil Shah

Fund Manager- Equity at Nippon. Runs 5 schemes worth ₹19,815 Cr.

  • Fund house

    NipponThey run their schemes at Nippon.

  • AUM they run

    ₹19,815 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

    5 now · 0 beforeSchemes they run now, as main or co-manager, and ones they ran before, since Aug 2024.

  • Experience

    20 years20

Profile(Nippon's SAI, 14 Aug 2026)

About

Role
Fund Manager- Equity
Studied
B.Com, C.A
Age
44 years
Experience
20

Schemes now5

  1. Nippon India Flexi Cap Fund₹9,214 Cr
  2. Nippon India Value Fund₹8,479 Cr
  3. Nippon India Conservative Hybrid Fund₹977 Cr
  4. Nippon India Equity Savings Fund₹744 Cr
  5. Nippon India MNC Fund₹401 Cr

AUM they run(Sept 2021 – Sept 2026)

AUM at month end each month, and its change on the month before
12 months₹ CrChange
Sept 202619,815−5.9%
Aug 202621,056+0.2%
Jul 202621,023+1.2%
Jun 202620,781+2.0%
May 202620,371−0.4%
Apr 202620,448+10.9%
Mar 202618,434−10.7%
Feb 202620,633+5.7%
Jan 202619,524−3.0%
Dec 202520,118−0.6%
Nov 202520,234+0.7%
Oct 202520,092+3.8%
AUM at month end, Sept 2026
₹19,815 Cr
−1.4% since Oct 2025
Fig. 1.The AUM of the schemes Dhrumil 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(Aug 2021 – now)

  1. Flexi Cap Fund
  2. Conservative Hybrid Fund
  3. Value Fund
  4. MNC Fund
  5. Equity Savings Fund
Nippon20222023202420252026
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(Aug 2021 – now)

Nippon

5 now · since Aug 2021
  1. Nippon India Flexi Cap Fund
    Fund managerAug 2021—5y 3m₹9,214 CrFlexi CapTER 0.65%
  2. Nippon India Conservative Hybrid Fund
    Co-managerSept 2021—5y 2m₹977 CrConservative HybridTER 1.00%

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

Performance(5 schemes)

Growth · Direct plans

Return as manager
+9.33%
Beat peers
3 of 4
vs peers
+0.41 pt
Longest run
5.2 years
Beat benchmark
Upcoming
Each scheme Dhrumil Shah ran, against its peers and benchmark over the same months. Source: AMFI. Click a column's header to sort by it.
Nippon India Flexi Cap Fund
Aug '21–now · 5.2y
+10.58%+11.64%−1.06 pt––
Nippon India Conservative Hybrid Fund
Sep '21–now · 5.1y
+8.09%+7.56%+0.53 pt––
Nippon India Value Fund
Jan '23–now · 3.8y
+14.61%+14.31%+0.29 pt––
Nippon India MNC Fund
Jul '25–now · 1.2y
+1.60%+1.05%+0.55 pt––
Nippon India Equity Savings Fund
Feb '26–now · 0.7y
−1.13%+1.56%−2.69 pt––
Fig. 1.Each scheme Dhrumil Shah ran, against its peers and benchmark over the same months. Source: AMFI.

Works with(3 now)

  1. Meenakshi DawarFlexi Cap Fund · Value Fund2 schemes
  2. Sushil BudhiaConservative Hybrid Fund · Equity Savings Fund2 schemes
  3. Herin VisariaEquity Savings Fund1 scheme

Career(May 2006 – now)

Over 20 years of experience in equity research and investments

  1. Position not stated
    Feb 2018—8y 9m

NAM India - Assistant Fund Manager- Equity

  1. Position not stated
    Jul 2011—Jan 20186y 7m

Birla Sun Life Insurance- AVP Investments, Equity Fund Management and Research

  1. Position not stated
    May 2006—Jun 20115y 2m

Source.Nippon's Statement of Additional Information, as of 14 Aug 2026.