Fundalysisby DARKHORSESTOCKS

Fund manager · HDFC

Dhruv Muchhal

Equity Analyst and Fund Manager for Overseas Investments at HDFC. Runs no scheme today.

  • Fund house

    HDFCThey run their schemes at HDFC.

  • AUM they run

    None today

  • Schemes

    0 now · 48 beforeSchemes they run now, as main or co-manager, and ones they ran before, since Sept 2024.

  • Experience

    15 yearsCollectively over 15 years in equity research

Profile(HDFC's SAI, 30 Jun 2026)

About

Role
Equity Analyst and Fund Manager for Overseas Investments
Studied
CFA (CFA Institute); Chartered Accountant, B Com. from University of Mumbai
Age
38 years
Experience
Collectively over 15 years in equity research

Schemes now0

None today; their last ended in Sept 2026.

AUM they run(Jun 2023 – Aug 2026)

AUM at month end each month, and its change on the month before
12 months₹ CrChange
Aug 20262,017−0.6%
Jul 20262,029−1.9%
Jun 20262,070−2.4%
May 20262,120−6.7%
Apr 20262,272−0.8%
Mar 20262,290−15.5%
Feb 20262,709−1.4%
Jan 20262,747−5.7%
Dec 20252,914−0.8%
Nov 20252,938−0.2%
Oct 20252,945−0.5%
Sept 20252,959+6.7%
AUM at month end, Aug 2026
₹2,017 Cr
−31.9% since Sept 2025
Fig. 1.The AUM of the schemes Dhruv Muchhal 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(Jun 2023 – now)

  1. ELSS Tax Saver Fund
  2. Retirement Fund Hybrid Equity Plan
  3. Business Cycle Fund
  4. Housing Opportunities Fund
  5. Large Cap Fund
  6. Multi Cap Fund
  7. Money Market Fund
  8. Gilt Fund
  9. Ultra Short Term Fund
  10. Defence Fund
  11. Small Cap Fund
  12. Banking Financial Services Fund
HDFC202420252026
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(Jun 2023 – now)

HDFC

since Jun 2023
  1. HDFC ELSS Tax Saver Fund
    OverseasJun 2023—Sept 20263y 4mTax Saver (ELSS)
  2. HDFC Gilt Fund
    Fund managerJun 2023—Sept 20263y 4mGilt

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

Performance(1 schemes)

Growth · Direct plans

Return as manager
+6.39%
Beat peers
1 of 1
vs peers
+0.20 pt
Longest run
3.3 years
Beat benchmark
Upcoming
Each scheme Dhruv Muchhal ran, against its peers and benchmark over the same months. Source: AMFI. Click a column's header to sort by it.
HDFC Gilt Fund
Jun '23–Sep '26 · 3.3y
+6.39%+6.19%+0.20 pt––
Fig. 1.Each scheme Dhruv Muchhal ran, against its peers and benchmark over the same months. Source: AMFI.

Career(Nov 2010 – now)

HDFC Asset Management Company Limited

  1. Position not stated
    Oct 2019—7y 1m

Motilal Oswal Financial Services Limited

  1. Associate Vice President - Research
    Aug 2014—Sept 20195y 2m

Goldman Sachs (India) Securities Private Limited

  1. Research Analyst
    Aug 2013—Aug 20141y 1m

CRISIL Limited

  1. Senior Research Analyst – Irevna FR-Equity Research
    Nov 2010—Aug 20132y 10m

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