Know Your Fund Manager | Basant Bafna, Head – Fixed Income, Mirae Asset

Let’s start with your personal story

My family has been settled in Nepal since the 80s with a family business in EPC services for the garment industry within the country. While I was born at my ancestral home in Rajasthan, I was brought up in Kathmandu, where I completed my schooling. I subsequently came to Delhi to pursue my higher education, wherein I completed BCom (Honours) from the University of Delhi and subsequently travelled to Mumbai to complete my MBA (Finance) alongside Company Secretary. Thereafter, I started my professional journey with Export-Import Bank of India (Exim) by way of campus placement. During my tenure with Exim, I completed CFA and FRM and professional certifications like JAIIB, CAIIB and Certified Treasury Professional Certification and cleared 2 levels of French Language from Alliance Francaise.

How did you end up in this job?

Before joining Mirae Asset Mutual Fund (Mirae Asset), I was heading the dealing room for Exim. My responsibilities inter alia included managing investments as well as borrowing for Exim. Being an investor as well as borrower from mutual funds, I was regularly interacting with asset managers to discuss market views as well as potential trade opportunities. Post one such interaction with Mirae Asset, Mahendra Jajoo, who was the CIO at the time, explained on future plans to grow the debt business at Mirae Asset with a potential opportunity to manage the duration portfolio.

With Mr Jajoo deciding to move on to explore other opportunities, the AMC has since entrusted me to manage the fixed income portfolio for Mirae Asset as Head-Fixed Income.

Which funds are you currently managing?

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• Mirae Asset Ultra Short Duration Fund
• Mirae Asset Low Duration Fund
• Mirae Asset Short Duration Fund
• Mirae Asset Dynamic Bond Fund
• Mirae Asset Income plus Arbitrage Active FOF
• Mirae Asset Aggressive Hybrid Fund (Debt Portion)
• Mirae Asset Balanced Advantage Fund (Debt Portion)
• Mirae Asset Equity Savings Fund (Debt Portion)
• Mirae Asset Multi Asset Allocation Fund (Debt Portion)

What is your investment philosophy and how will you describe your investment strategy?

The investment philosophy is driven by a client-first approach wherein client interests are prioritised in managing the overall AUM. The overall investment strategy remains providing clients with a high credit quality portfolio with active portfolio management to optimise overall client returns with due regard to the prevailing interest rate environment.

What gives you the kick while managing other people’s money?

Managing client funds is a fiduciary responsibility, and the endeavour remains to provide a risk-adjusted, data-backed view to clients to facilitate an informed decision with due regard to the underlying risk appetite of the client. Eternal happiness for any portfolio manager remains when the view generates alpha for the investor and the client, in turn, calls back appreciating one’s view.

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