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Indian equity veteran to exit JPM Asset Management

Indian equity veteran to exit JPM Asset Management

Rukhshad Shroff is to retire from JPM Asset Management and step down from several funds in the process, Citywire Selector has learned.

Shroff will relinquish responsibility for several strategies including the JPMorgan India fund, which has $448m in assets under management. Rajendra Nair remains in place on the Luxembourg-domiciled fund.

From August 1, Nair will be joined by Ayaz Ebrahim, who will act as a co-manager across all Shroff’s former funds. Ebrahim is currently a named manager on three Korean equity funds, according to the Citywire database, and is also co-head of the Asia Pacific regional team within the EM and Asia Pacific team.

In a statement to Citywire Selector, a spokesperson for JPM AM said: ‘Rajendra and Ayaz already work closely together in JPM AM’s Hong Kong office, where they are both based. They are supported by a team of research analysts who conduct on-the-ground research and in-depth fundamental analysis.’

Shroff had been with JPM AM since joining in 1994 as a strategist and equity analyst. He was previously head of the Pacific Regional Group’s India team. Before joining the company in 1994, Rukhshad worked for Securities Analysis India Private as an equity analyst.