Prime Highlights
- APMI appointed Vikas Khemani chairman and Sandeep Jethwani vice-chairman.
- PMS assets under management reached ₹43.3 lakh crore in June 2026.
Key Facts
- APMI represents and supports the portfolio management services industry in India.
- Khemani leads Carnelian Asset Management, while Jethwani co-founded Dezerv.
Background
The Association of Portfolio Managers in India (APMI) has appointed Vikas Khemani as chairman and Sandeep Jethwani as vice-chairman as India’s portfolio management services (PMS) industry continues to grow.
APMI announced the new leadership after its board meeting held in the second week of August. Khemani is the founder and chief investment officer of Carnelian Asset Management & Advisors, while Jethwani is the co-founder of Dezerv. Both bring experience in investment and wealth management to their new roles.
The two leaders will guide APMI’s work with regulators, investors, distributors and other industry stakeholders. They will also focus on improving investor awareness, transparency, governance and industry practices.
The PMS industry has expanded significantly in India. APMI’s latest PMS Industry Compendium showed that assets under management (AUM) reached ₹43.3 lakh crore in June 2026. The growing size of the industry has increased the need for stronger governance and better investor communication.
Khemani said APMI would work to improve transparency, governance and investor awareness while supporting innovation and broader participation in the PMS market.
Jethwani said technology would help make portfolio management easier to access and understand. He added that APMI would focus on technology adoption, investor education and stronger engagement with distributors and other stakeholders.
Under the new leadership, APMI plans to strengthen investor awareness, promote best practices and maintain regular engagement with regulators as the PMS sector evolves.