Fundalysisby DARKHORSESTOCKS

Fund manager · Nippon

Vikram Dhawan

Fund Manager – Commodities at Nippon. Runs 4 schemes worth ₹1,09,234 Cr.

  • Fund house

    NipponThey run their schemes at Nippon.

  • AUM they run

    ₹1,09,234 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

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

  • Experience

    31 years31

Profile(Nippon's SAI, 14 Aug 2026)

About

Role
Fund Manager – Commodities
Studied
B.E., PGDMM
Age
56 years
Experience
31
Also as
Vikram Dhavan (Nippon)

Schemes now4

  1. Nippon India ETF Gold BeES₹56,982 Cr
  2. Nippon India Silver ETF₹31,196 Cr
  3. Nippon India Multi Asset Allocation Fund₹18,044 Cr
  4. Nippon India Multi Asset Omni FoF₹3,012 Cr

AUM they run(Aug 2021 – Sept 2026)

AUM at month end each month, and its change on the month before
12 months₹ CrChange
Sept 20261,09,234−2.4%
Aug 20261,11,892+9.0%
Jul 20261,02,659+1.1%
Jun 20261,01,502−5.9%
May 20261,07,821+3.8%
Apr 20261,03,923+3.8%
Mar 20261,00,128−6.3%
Feb 20261,06,862−7.6%
Jan 20261,15,682+45.5%
Dec 202579,506+23.4%
Nov 202564,454+9.5%
Oct 202558,854+12.4%
AUM at month end, Sept 2026
₹1,09,234 Cr
+85.6% since Oct 2025
Fig. 1.The AUM of the schemes Vikram Dhawan 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 2020 – now)

  1. Multi Asset Allocation Fund
  2. Silver ETF
  3. ETF Gold BeES
  4. Multi Asset Omni FoF
Nippon202120222023202420252026
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 2020 – now)

Nippon

4 now · since Aug 2020
  1. Nippon India ETF Gold BeES
    Fund managerFeb 2022—4y 9m₹56,982 CrGoldTER 0.81%

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

Performance(4 schemes)

Growth · Direct plans

Return as manager
+25.58%
Beat peers
2 of 2
vs peers
+11.93 pt
Longest run
6.1 years
Beat benchmark
Upcoming
Each scheme Vikram Dhawan ran, against its peers and benchmark over the same months. Source: AMFI. Click a column's header to sort by it.
Nippon India Multi Asset Allocation Fund
Aug '20–now · 6.1y
+17.29%+15.14%+2.15 pt––
Nippon India ETF Gold BeES
Feb '22–now · 4.7y
+25.58%––––
Nippon India Silver ETF
Feb '22–now · 4.7y
+30.09%+8.38%+21.70 pt––
Nippon India Multi Asset Omni FoF
Mar '26–now · 0.6y
−1.56%−2.18%+0.62 pt––
Fig. 1.Each scheme Vikram Dhawan ran, against its peers and benchmark over the same months. Source: AMFI.

Works with(5 now)

  1. Sushil BudhiaMulti Asset Allocation Fund · Multi Asset Omni FoF2 schemes
  2. Amber SinghaniaMulti Asset Allocation Fund1 scheme
  3. Kinjal DesaiMulti Asset Allocation Fund1 scheme
  4. Shirish GutheMulti Asset Omni FoF1 scheme
  5. Vinay SharmaMulti Asset Allocation Fund1 scheme

Career(Sept 1992 – now)

Over 31 years of experience From

  1. Position not stated
    Aug 2019—7y 3m

NAM India – Fund Manager Commodities From

  1. Position not stated
    Feb 2019—Jul 20196m

Nippon Life India AIF Management Limited – Fund Manager Commodities From

  1. Position not stated
    Oct 2017—Feb 20191y 5m

NAM India - Head Commodities

  1. Position not stated
    May 2013—Sept 20174y 5m

Commodity Risk Advisor

  1. Position not stated
    May 2011—Apr 20132y

Risk Manager, Gold Matrix Pte, Singapore

  1. Position not stated
    Apr 2009—May 20112y 2m

Head Commodities, Reliance Capital Limited

  1. Position not stated
    Feb 2007—Apr 20092y 3m

Head Commodities, NAM India

  1. Position not stated
    Apr 2005—Jan 20071y 10m

Head Commodities, Reliance Capital Limited

  1. Position not stated
    Jan 2004—Mar 20051y 3m

Head Commodity Risk Management, Vedanta Group

  1. Position not stated
    Nov 2001—Dec 20032y 2m

COO, Zee Gold Refinery (Shirpur Gold Refinery

  1. Position not stated
    Aug 2000—Oct 20011y 3m

Country Manager, N.M. Rothschild & Sons

  1. Position not stated
    Jan 1998—Jul 20002y 7m

Associate Director, Bank of Nova Scotia

  1. Position not stated
    Dec 1994—Dec 19973y 1m

Head Commodity Hedging, Birla Copper (Hindalco

  1. Position not stated
    Sept 1992—Nov 19942y 3m

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