Anil Ghelani, CFA

Anil Ghelani, CFA Anil Ghelani, CFA is an influencer

Head Passive Investments & Products. Previously: CEO & CIO - DSP BlackRock Pension Fund Managers

Mumbai, Maharashtra, India
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About

Versatile finance professional | Indian equities, fixed income, credit research | MF, AIF, Pension Fund | Setting up & leading businesses, stakeholder management, media engagement | Strong professional relationships in local finance industry

Views expressed are my own. Shares/ Reposts/ Likes are not endorsements.

I have been working with DSP Group since 2003. The DSP Group has a legacy of more than 160 years, and is one of the oldest and most respected financial services firms in India.
• I am currently Head of Passive Investments & Products.
• Previously, I was the CEO & Chief Investment Officer CIO at DSP BlackRock Pension Fund Managers and prior to that, leading the Risk and Quantitative Analysis team at DSP BlackRock Mutual Fund responsible for monitoring of portfolio risk and Buy-Side Credit Research on companies across various sectors.
• I also worked as Chief Operating Officer COO of Sales & Marketing for a short stint which gave me a unique learning.

I started my professional life two decades ago in 1998 and earlier in my career, I worked with (1) IL&FS Asset Management Company, (2) S. R. Batliboi a member firm of EY and (3) V. C. Shah & Co.

I am a volunteer with CFA Society India since 2007 in different roles. During 2011 to 2023 I was a Director and a member of the Board and also served as the Vice Chairman of the Board from 2018 to 2021.

Other Activities / Industry Recognition:

▪︎ The India-UK Financial Partnership (IUKFP): IUKFP’s objective is to deepen financial services links between India and UK. Inducted with 8 other members from India and UK for the focus area "Pensions".

▪︎ Association of Mutual Funds In India (AMFI): Member of Standing Committee formed under the AMFI to examine issues related to growth of ETFs and Index Funds (Jan 2015 - Dec 2020).

▪︎ CFA Institute: Serving in volunteer capacity as a Director and Vice Chairman of the India Society of the CFA Institute based in the US and having a global presence. Represented India in a prominently featured global advertisement campaign across print, digital and outdoor media during 2016-17.

▪︎ Academic Institutions: Invited as guest speaker, judge for student competitions, editorial board of student magazine; key institutions include: Various IIMs, TAPMI, SP Jain, SIMSREE, IMI, SCMLD.

▪︎ IAAIF’s 40 Under 40: Recognized in “40 Under 40” Alternative Investment Professionals list of 2018

▪︎ CSR Activities: Contributing to CSR activities as a part of an internal Committee at DSP Investment Managers.

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Contributions

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Activity

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Experience

  • DSP Mutual Fund

    DSP Mutual Fund

    11 years

    • DSP Mutual Fund Graphic

      Head of Passive Investments & Products

      DSP Mutual Fund

      - Present 22 years

      India

      𝟐𝟎𝟏𝟕 𝐨𝐧𝐰𝐚𝐫𝐝𝐬: 𝐌𝐮𝐭𝐮𝐚𝐥 𝐅𝐮𝐧𝐝: 𝐇𝐞𝐚𝐝 𝐨𝐟 𝐏𝐚𝐬𝐬𝐢𝐯𝐞 𝐈𝐧𝐯𝐞𝐬𝐭𝐦𝐞𝐧𝐭𝐬 & 𝐏𝐫𝐨𝐝𝐮𝐜𝐭𝐬
       Responsible for creating the ETFs/passive investments platform; hiring & building a core team; launching a range of Funds after testing investment case
       Day to day portfolio management & dealing, assisting business development by enhancing visibility through media engagements and direct engagement with key clients.
       Leading the process of idea generation and…

      𝟐𝟎𝟏𝟕 𝐨𝐧𝐰𝐚𝐫𝐝𝐬: 𝐌𝐮𝐭𝐮𝐚𝐥 𝐅𝐮𝐧𝐝: 𝐇𝐞𝐚𝐝 𝐨𝐟 𝐏𝐚𝐬𝐬𝐢𝐯𝐞 𝐈𝐧𝐯𝐞𝐬𝐭𝐦𝐞𝐧𝐭𝐬 & 𝐏𝐫𝐨𝐝𝐮𝐜𝐭𝐬
       Responsible for creating the ETFs/passive investments platform; hiring & building a core team; launching a range of Funds after testing investment case
       Day to day portfolio management & dealing, assisting business development by enhancing visibility through media engagements and direct engagement with key clients.
       Leading the process of idea generation and investment theme, followed by product structuring and successful commercial launch of products on the Alternative Investments (AIF) and Mutual Fund platforms.
       Implementing mandates under the advisory business – instrumental in winning a unique fixed income advisory mandate in which was first of its kind for any asset management company in India

      𝟐𝟎𝟏𝟓 – 𝟐𝟎𝟏𝟕: 𝐌𝐮𝐭𝐮𝐚𝐥 𝐅𝐮𝐧𝐝: 𝐂𝐡𝐢𝐞𝐟 𝐎𝐩𝐞𝐫𝐚𝐭𝐢𝐧𝐠 𝐎𝐟𝐟𝐢𝐜𝐞𝐫 - 𝐒𝐚𝐥𝐞𝐬 & 𝐌𝐚𝐫𝐤𝐞𝐭𝐢𝐧𝐠
      Contributing to the business strategy, product management, new business initiatives and supporting international mandates.

      𝟐𝟎𝟏𝟑 – 𝟐𝟎𝟏𝟓: 𝐏𝐞𝐧𝐬𝐢𝐨𝐧 𝐅𝐮𝐧𝐝: 𝐂𝐄𝐎 & 𝐂𝐡𝐢𝐞𝐟 𝐈𝐧𝐯𝐞𝐬𝐭𝐦𝐞𝐧𝐭 𝐎𝐟𝐟𝐢𝐜𝐞𝐫

      𝐉𝐚𝐧 𝟐𝟎𝟎𝟔 – 𝐃𝐞𝐜 𝟐𝟎𝟏𝟐: 𝐌𝐮𝐭𝐮𝐚𝐥 𝐅𝐮𝐧𝐝: 𝐇𝐞𝐚𝐝 𝐨𝐟 𝐑𝐢𝐬𝐤 & 𝐐𝐮𝐚𝐧𝐭𝐢𝐭𝐚𝐭𝐢𝐯𝐞 𝐀𝐧𝐚𝐥𝐲𝐬𝐢𝐬
       Buy-side credit research on companies across various sectors, evaluating innovative structured credits with varying forms of collateral, ongoing engagement with company management before investing and monitoring exposures once invested, evolving strategies to mitigate risk especially during stress situations.
       Driving risk & performance evaluation framework, providing quantitative research inputs to managers, tracking portfolio’s positioning and engaging with managers where rebalancing is required.

      July 2003 – Dec 2005: Mutual Fund - Fund Administration
       Responsible for fund accounting, valuation, NAV computation, banking & cash flow management

    • DSP BlackRock Pension Fund Managers Graphic

      CEO & Chief Investment Officer

      DSP BlackRock Pension Fund Managers

      - 2 years

      Mumbai Area, India

      Anil is the Business Head & Chief Investment Officer at DSP BlackRock Pension Fund Managers, since its inception. His key responsibilities include:
      > Establishing business objectives, formulating strategies in line with the long term vision; ongoing reporting to Board of Directors about progress and future strategies

      > Setting up a robust investment process and overseeing the portfolios covering Indian equities, government bonds and corporate bonds
      > Responsible for day to…

      Anil is the Business Head & Chief Investment Officer at DSP BlackRock Pension Fund Managers, since its inception. His key responsibilities include:
      > Establishing business objectives, formulating strategies in line with the long term vision; ongoing reporting to Board of Directors about progress and future strategies

      > Setting up a robust investment process and overseeing the portfolios covering Indian equities, government bonds and corporate bonds
      > Responsible for day to day fund management activity, providing periodic as well as event-based and market commentaries and regular reporting to Trustees
      > Driving consistently strong investment performance while managing the challenge of smaller size portfolios in the growth phase

      > Creating sales and marketing initiatives; maintaining oversight on key relationships
      > Representing the Company in public domain and increasing visibility by regular connectivity with media reporters and participating in industry seminars

      > Hiring and developing the best talent; ensuring team remains inspired and engaged

  • Brand Ambassador - Volunteer Capacity

    #CFAdifference Global Brand Campaign

    - Present 8 years 11 months

    India

    Selected by CFA Institute to represent India in their multi-year global brand campaign.

    ~ The #CFAdifference brand campaign launched from Feb 2016 with a prominently featured advertisement campaign across:
    - print,
    - digital, and
    - outdoor media,
    targeting employers, high net worth investors and investment professionals globally.

    ~ The key objective is to enhance the awareness of CFA Institute based in the US and having a global presence, as not simply an…

    Selected by CFA Institute to represent India in their multi-year global brand campaign.

    ~ The #CFAdifference brand campaign launched from Feb 2016 with a prominently featured advertisement campaign across:
    - print,
    - digital, and
    - outdoor media,
    targeting employers, high net worth investors and investment professionals globally.

    ~ The key objective is to enhance the awareness of CFA Institute based in the US and having a global presence, as not simply an examination body, but as one of the leading global advocate for the advancement of the investment profession that stands for highest levels of ethics and competence.

  • CFA Society India Graphic

    Vice Chairman (Past)

    CFA Society India

    - Present 13 years 3 months

    India

    • Volunteer of IAIP / CFA Society India since 2007.

    • Vice Chairman - from 2018 to 2021

    • Board Member - Director from 2011 to 2023

    > CFA Society India is one of the leading member society of CFA Institute, USA, with regular member base of more than 2,500 CFA Charter holders spread across various cities in India.

    > It primarily consists of portfolio managers, financial analysts, investment advisers, and other finance professionals.

    > Besides…

    • Volunteer of IAIP / CFA Society India since 2007.

    • Vice Chairman - from 2018 to 2021

    • Board Member - Director from 2011 to 2023

    > CFA Society India is one of the leading member society of CFA Institute, USA, with regular member base of more than 2,500 CFA Charter holders spread across various cities in India.

    > It primarily consists of portfolio managers, financial analysts, investment advisers, and other finance professionals.

    > Besides providing global networking opportunities to its members, the key objectives of IAIP are to promote ethical & professional standards and its significance within the investment industry, to facilitate the exchange of information and opinions among people within the investment community and to further the public’s understanding of the investment industry and CFA® designation.

    > More details at
    https://cfasocietyindia.org/about/

  • Operations - Fund Administration

    IL & FS Asset Management Company Ltd

    - less than a year

    Supporting money market investment team; worked with the Registrar and bankers for automation of subscription reconciliation processes and tracking investor's cash flows

  • Ernst & Young Graphic

    Executive - Assurance Service Line at S. R. Batliboi & Associates

    Ernst & Young

    - 3 years

    Mumbai Area, India

    Responsible for audit, due diligence for M&A, regulatory certification for clients mainly in asset management, insurance, NBFC, broking.
    Obtained an overall understanding of the client’s business and researched various accounting, internal control, statutory compliance and business issues.

    Key Clients serviced in the financial services industry include:
    ▪︎Asset Management:- SBI Funds Management P Ltd; Zurich Asset Management Company P Ltd; DSP Merrill Lynch Mutual…

    Responsible for audit, due diligence for M&A, regulatory certification for clients mainly in asset management, insurance, NBFC, broking.
    Obtained an overall understanding of the client’s business and researched various accounting, internal control, statutory compliance and business issues.

    Key Clients serviced in the financial services industry include:
    ▪︎Asset Management:- SBI Funds Management P Ltd; Zurich Asset Management Company P Ltd; DSP Merrill Lynch Mutual Fund

    ▪︎Insurance:- Kotak Mahindra Old Mutual Life Insurance Ltd

    ▪︎ Investment Banking & Broking:- Prime Broking Company Ltd; SBI Capital Markets Ltd; Taib Securities India Ltd

    ▪︎ M&A Support:- Worked on a special due diligence assignment on behalf of a global player before finalising their acquisition of stake in one of the large Asset Management Company in India.

  • Audit & Tax

    V.C.Shah & Co. - Chartered Accountants

    - 2 years

    Mumbai Area, India

    Audit assignments for listed companies such as Phil Corp Ltd., Kotak Mahindra Finance Ltd. (NBFC which was subsequently converted to Kotak Mahindra Bank), and other unlisted firms across sectors.
    Handling income tax related work for individual clients.

Education

Licenses & Certifications

Skills

Publications

  • Money Money Money

    CNBC TV 18

    One of the most debated topic in Indian equities market. On one of the most engaging shows on personal finance and #Investment

    ☆ Innovation expected in passive investments, the concept of Smart Beta funds, commodities & more..
    why Index Funds & ETFs could be added as a complementary strategy in any investor’s portfolio
    .
    #smartbeta #investment #ETFs

    See publication

  • Anxious about your investment every minute? Learn how to control it.

    Edelweiss FinTalk Podcast

    India's first 'Bite Size' Podcast Edelweiss FinTalk.

    Hear in this bite size chat, why it is important to be active in your personal life,
    and passive with your investments with some interesting analogy.

    Other authors
    See publication

  • Close-ended investment solution a good investment option

    Moneycontrol.com

    Let Your Mind Be Open
    To take care of the volatile mind, we need an investment solution which can participate in equities, provide a cushion in case of a potential correction and ensure the investment stays put during the investment horizon to avoid any behavioral bias caused by the volatile mind.
    These concerns can be addressed quite effectively through a closed ended mutual fund with in-built risk management by way of a put option.

    See publication

  • A magic formula for wealth creation: An equal-weighted index

    Economic Times

    As the captain of your cricket team -two of your best bowlers are getting badly hit today, your star spinner is not able to perform his magic due to a finger injury, and your best fielder in the slips has slipped a simple catch and given up a couple of boundaries. With a reasonably low target to defend, what you want now is hope for a miracle! Or what you really want is to get your other players in greater focus.

    You will use your calm mind and give a chance to that fresh bowler…

    As the captain of your cricket team -two of your best bowlers are getting badly hit today, your star spinner is not able to perform his magic due to a finger injury, and your best fielder in the slips has slipped a simple catch and given up a couple of boundaries. With a reasonably low target to defend, what you want now is hope for a miracle! Or what you really want is to get your other players in greater focus.

    You will use your calm mind and give a chance to that fresh bowler waiting to get his kill with a few wickets, motivate other fielders and activate the Jhonty Rhodes in them to jump on each ball passing by and suddenly, the match is looking very different and team sees a positive victory. Often not just the heavyweight stars, but all players performing equally can win matches.

    See publication

  • Interview with EY Alumni Magazine

    EY Alumni Connect

    Interview for EY Alumni Magazine, covering the work done while being associated with EY in Mumbai, career shift to the asset management industry and current profile.
    While working with a member firm of EY, Anil was a part of the team servicing clients in the asset management industry, which was a very nascent industry at that time, and he realized very early that he wanted to be a part of a growing industry. He shares, “Once I decided that fundamentally I do not wish to be an auditor…

    Interview for EY Alumni Magazine, covering the work done while being associated with EY in Mumbai, career shift to the asset management industry and current profile.
    While working with a member firm of EY, Anil was a part of the team servicing clients in the asset management industry, which was a very nascent industry at that time, and he realized very early that he wanted to be a part of a growing industry. He shares, “Once I decided that fundamentally I do not wish to be an auditor anymore, I moved to IL&FS as a part of their asset management business. My stint there was brief, post which I moved to DSP BlackRock and have been here for more than a decade now.”

    See publication

  • In conversation with....Anil Ghelani, CFA

    IAIP - India CFA Society

    The Asset Management industry in India has grown steadily in the past. I continue to have a very positive view over the long term and believe that the next decade could see the industry growing manifold. A stable government and bullish economic outlook will provide an additional boost to the overall industry. The CFA Program provides a good overall knowledge to a Finance Professional and assists work in various areas, including but not limited to, portfolio management and research. At various…

    The Asset Management industry in India has grown steadily in the past. I continue to have a very positive view over the long term and believe that the next decade could see the industry growing manifold. A stable government and bullish economic outlook will provide an additional boost to the overall industry. The CFA Program provides a good overall knowledge to a Finance Professional and assists work in various areas, including but not limited to, portfolio management and research. At various asset management companies globally and also at DSP BlackRock in India, we have seen professionals with the CFA Charter occupying positions in many important roles such as product strategists, risk managers and sales or relationship managers.

    See publication

  • Global Trends in Pension Funds – Impact of Increased Longevity

    IAIP - Delhi (India CFA Society)

    Discussion on the importance of financial planning for retirement and role of pension funds; increase in life expectancy is resulting in a higher liability for pension funds as beneficiaries live longer than expected. Overview of “fiduciary capitalism” and how there is a visible shift in the approach of long term institutional investors globally.

    See publication

  • Focus on long term planning

    S&P DowJones Indexology

    Whether it is personal financial planning or strategic navigation of the government, the key is to have a steady focus on achieving long term goals.

    See publication

  • Pension Fund Congress 2013

    Outlook Money

    A majority of India’s population remains without any pension coverage, making pension planning a critical need for the demography to sustain their present lifestyle in future. To guide the way forward for the industry, India’s top insurance and pension professionals congregated at the Indian Pension Fund Congress (Anil Ghelani - CIO of DSP BlackRock Pension Fund Managers was speaking at a panel together with S.B. Mathur, part-time member, IRDA; Arvind Usretay of Mercer Consulting and Mayank…

    A majority of India’s population remains without any pension coverage, making pension planning a critical need for the demography to sustain their present lifestyle in future. To guide the way forward for the industry, India’s top insurance and pension professionals congregated at the Indian Pension Fund Congress (Anil Ghelani - CIO of DSP BlackRock Pension Fund Managers was speaking at a panel together with S.B. Mathur, part-time member, IRDA; Arvind Usretay of Mercer Consulting and Mayank Bathwal, Deputy CEO, Birla Sun life Insurance)

    See publication

Projects

  • The India-UK Financial Partnership (IUKFP) : Pensions

    IUKFP was launched by the Indian Fin. Minister Arun Jaitley and the UK Chancellor George Osborne to deepen financial services links between India and UK. Sir Gerry Grimstone of Standard Life and Uday Kotak of Kotak Mahindra Bank were appointed to drive forward the overall IUKFP initiative. I was inducted together with 8 other members from India and UK for the focus area "Pensions" (names of other group members are noted on last page of the report:…

    IUKFP was launched by the Indian Fin. Minister Arun Jaitley and the UK Chancellor George Osborne to deepen financial services links between India and UK. Sir Gerry Grimstone of Standard Life and Uday Kotak of Kotak Mahindra Bank were appointed to drive forward the overall IUKFP initiative. I was inducted together with 8 other members from India and UK for the focus area "Pensions" (names of other group members are noted on last page of the report: https://www.thecityuk.com/assets/2015/Reports-PDF/IUKFP-Pensions.pdf)

    Pensions was one of the priority work-streams identified under IUKFP and a policy discussion paper with key recommendations for action was completed and released in Nov-2015 during an event at the London Stock Exchange (LSE) and then to be presented to the Prime Ministers of India and the UK, Narendra Modi and David Cameron during the PM Modi's forthcoming landmark visit to the UK.

    See project

Honors & Awards

  • 40 under 40 – Alternative Investment Professionals in India

    Indian Association of Alternative Investment Funds (IAAIF)

    www.iaaif.com/40-under-40/
    Jury screened 175+ nominations and selected 40 which were presented during 5th Alternative Investment Summit in Mumbai in Jan-2018. Jury included Zia Mody, Founder & Managing Partner, AZB & Associates; Amit Shah, CEO, IIFL Asset Management Business; Andrew Holland, CEO-Avendus Capital Alternate Strategies; Anuradha Rao, MD & CEO, SBI Mutual Fund; Vikas Khemani, President & CEO Edelweiss Securities Ltd.

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