Mumbai, Maharashtra, India, August 2026 — The Association of Portfolio Managers in India (APMI), the industry body representing the PMS Industry in India, announced the election of Mr. Vikas Khemani as Chairman and Mr. Sandeep Jethwani as Vice- Chairman of APMI. The appointments were announced following the Association’s 29th Board Meeting held on Monday 10th August’26.
Mr. Vikas Khemani, Founder and CIO, Carnelian Asset Management & Advisors, and Mr. Sandeep Jethwani, Co-founder, Dezerv, bring extensive experience across investment management, wealth management and investor engagement.
The new leadership takes charge at an important stage in the evolution of India’s PMS industry. According to APMI’s latest PMS Industry Compendium, the industry’s assets under management (AUM) stood at INR 43.3 lakh crore in June 2026, reflecting the growing scale and relevance of portfolio management in India’s wealth management ecosystem.
Commenting on his appointment, Mr. Vikas Khemani, Chairman, APMI, said, “The PMS industry has reached a scale where its next phase must be defined by greater & wider investor participation coupled with ease of investing. At APMI, we will raise the bar on transparency, governance and investor awareness, while creating greater room for innovation and differentiated investment approaches. We will strengthen the dialogue across the ecosystem and work closely with regulators and stakeholders to build a PMS industry that is credible, progressive and equipped for the next phase of India’s wealth creation journey.”
As Chairman and Vice- Chairman, Mr. Khemani and Mr. Jethwani will lead APMI’s efforts to deepen engagement across the ecosystem, advance industry best practices and strengthen investor education and awareness. The leadership will also focus on supporting the responsible and sustainable development of the PMS industry.
Mr. Sandeep Jethwani, Vice- Chairman, APMI, said, “India’s PMS industry has built genuine scale and credibility, and technology has been a critical part of that journey. The opportunity now is to take it further. As digital capabilities deepen, they let us make portfolio management easier to access, simpler to understand and more transparent, and open it to a far wider set of investors. APMI’s role will be to help the industry build on this foundation by adopting technology thoughtfully while deepening investor education and strengthening engagement with distributors and stakeholders.”
The new leadership will build on APMI’s ongoing efforts to strengthen the foundations of the PMS industry and support its orderly and sustainable development. The Association will continue to focus on investor education, transparency, adoption of best practices and constructive engagement with regulators and industry stakeholders as the portfolio management industry evolves in India.
About APMI
The Association of Portfolio Managers in India (APMI) represents the unified voice of the PMS industry, driving industry development through collaboration, advocacy, research, and best practices. APMI works closely with stakeholders to enhance transparency, strengthen investor confidence, and support the continued evolution of professionally managed investment solutions within India’s financial ecosystem.
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