Axis Mutual Fund appoints R Sivakumar as CIO amid growth push

Axis asset management company (AMC) has announced a shift in its investment leadership, elevating R Sivakumar to the position of chief investment officer (CIO). The appointment, effective immediately, comes as part of a structured internal succession plan following the departure of Ashish Gupta, who has decided to pursue other professional and personal interests.

Veteran leader for milestone era

Sivakumar is a foundational figure at Axis AMC, having been with the firm since its inception in 2009. A seasoned veteran with over 25 years of experience in the asset management industry, he has been a key architect of the firm’s growth into one of India’s top fund houses. As of February 2026, Axis Mutual Fund manages an asset base exceeding ₹3.75 lakh crore.

In his new capacity, Sivakumar will be responsible for driving the AMC’s overall investment strategy and fostering thought leadership for new fund concepts. He is expected to further institutionalize the firm’s research-led processes and oversee the investment teams to meet the organisation’s long-term expansion goals.

“We look forward to Sivakumar’s extensive experience and deep market insight,” said B. Gopkumar, MD & CEO of Axis AMC. “His long-standing association with the firm uniquely positions him to lead our investments team. This elevation reflects our commitment to continuity, governance, and a disciplined investment framework.”

Axis AMC has outlined ambitious targets to capture a 6%–7% market share by FY29 and break into the top six mutual fund slots in India. The firm is currently betting on a recovery in corporate earnings and a strengthening domestic capex cycle, even as geopolitical volatility continues to weigh on global sentiment.

Under the updated leadership structure, the core investment heads will now report directly to Sivakumar. This high-level team includes Shreyash Devalkar, Devang Shah and Nandik Malik, the heads of equity, fixed income, equity and hybrid specialised investment funds.

The outgoing CIO, Ashish Gupta—who joined the firm in 2023 from Credit Suisse—received appreciation from the management for his leadership during a transformative period.

"The Axis AMC Management placed on record, their appreciation for his invaluable contributions and his leadership during his tenure with the organisation and wish him the very best in his future endeavours," the company said in a statement.