ICICI Pru assuages investors on fund manager's exit

There are 51 stocks now and nearly 95% of the assets are in giant large-cap stocks

Earlier this month, Manish Gunwani, deputy chief investment officer (CIO) at ICICI Prudential Mutual Fund, quit the fund house. He'd managed Focused Bluechip Equity since January 2012 and the move worried its investors; the fund has assets of Rs 13,500 crore.
 

Sankaran Naren, the CIO, and Rajat Chandak have been asked to now manage the scheme. Some investors and distributors are worried due to Gunwani’s and Naren’s different styles of functioning.  Naren is known to have a conservative and contrarian style; Gunwani was a bit more aggressive.

Focused Bluechip was launched during one of the toughest phases of the Indian stock