Mumbai (Maharashtra) [India], September 30 (ANI): The Association of Portfolio Managers in India (APMI) is building industry-level infrastructure, including a fund accounting system and digital onboarding platform, to support the portfolio management services (PMS) industry's next phase of growth and 10x expansion, its Chairman Vikas Khemani said on Wednesday.
Speaking to ANI on the sidelines of the APMI 3rd Annual Conference 2026 in Mumbai, Khemani said, “Realizing 10x growth is not just about scaling AUM—it's about building scalable infrastructure. APMI is creating an industry-led fund accounting system and a digital onboarding platform by the industry, for the industry”.
Khemani highlighted that achieving 10x growth would require multiple initiatives to work together, including wider investor reach, ease of doing business and a stronger ecosystem.
“You don't achieve 10x by one thing. You achieve 10x by, like I said, creating the reach which basically gets you more investment, you're creating the ease of doing business, creating an ecosystem,” he said.
APMI has already started expanding its outreach beyond Mumbai, conducting events in six other cities this year, including Kolkata, Bengaluru, Ahmedabad and Delhi. Khemani said the next phase would take the industry into Tier-2 and Tier-3 cities, alongside an awareness campaign that the association hopes to launch in the next few months.
“So I think idea is to create awareness, idea is to create reach and eventually, you know, once that happens, I think it will grow,” he said.
Khemani said APMI was also rolling out initiatives to help distributors, investors and portfolio managers become more efficient and compliant. These include digital onboarding and compliance-related platforms, with the association having more than 23,000 distributor partners.
On investor protection, he said suitability remained important as PMS adoption expands. “Suitability is not a concern of only this industry. Suitability applies to every financial product or any product for that matter, especially the financial products,” Khemani said.
He further added that APMI was investing in educating its distributor network on sales processes and suitability. “If you end up selling a product which is not suitable to your client, it will backfire you eventually”.
On superintelligence, Khemani said the technology was still evolving, with firms incorporating it into investment processes and onboarding. “We don't know what are the risks of AI, what are the opportunities of AI,” he said, adding that the industry would need to continue learning as the technology develops. (ANI)
APMI building industry infrastructure to drive 10x PMS growth, expand beyond Tier-1 cities: Chairman Vikas Khemani
