APMI to Drive 10x PMS Growth via New Infrastructure
APMI Chairman Vikas Khemani outlines plans for 10x PMS growth through digital infrastructure and expansion into Tier-2 and Tier-3 cities.
The Association of Portfolio Managers in India (APMI) is preparing for a massive surge in the Portfolio Management Services (PMS) sector. According to APMI Chairman Vikas Khemani, the industry is aiming for a 10x expansion by focusing on building robust, industry-level infrastructure rather than just increasing Assets Under Management (AUM).
Building Scalable Infrastructure
Speaking at the APMI 3rd Annual Conference 2026 in Mumbai, Khemani emphasized that scaling the industry requires more than just more capital. The association is actively developing critical tools to support this growth, including:
- An industry-led fund accounting system.
- A comprehensive digital onboarding platform.
- Enhanced compliance and efficiency tools for distributors and managers.
“Realizing 10x growth is not just about scaling AUM—it's about building scalable infrastructure,” Khemani stated, noting that these platforms are being created "by the industry, for the industry."
Expansion Beyond Metros
A key component of this growth strategy is increasing investor reach. While the industry has traditionally been centered in major hubs, APMI is aggressively moving into new territories. The association has already conducted events in cities such as Kolkata, Bengaluru, Ahmedabad, and Delhi.
The next strategic phase involves penetrating Tier-2 and Tier-3 cities. To facilitate this, APMI plans to launch a widespread awareness campaign in the coming months to educate potential investors and expand the ecosystem.
Investor Protection and Suitability
As the industry expands, Khemani highlighted the critical importance of suitability—ensuring that financial products align with the specific needs and risk profiles of clients. He warned that selling unsuitable products can lead to significant backlash for distributors and managers.
To mitigate these risks, APMI is investing in training its network of over 23,000 distributor partners, focusing on sales processes and compliance to ensure a more professional and secure investment environment.
The Role of Artificial Intelligence
Addressing the rise of advanced technology, Khemani noted that firms are already beginning to integrate AI into their onboarding and investment processes. However, he maintained a cautious stance on the evolving technology:
"We don't know what are the risks of AI, what are the opportunities of AI,"
He concluded that as superintelligence and AI continue to evolve, the industry must remain in a constant state of learning to navigate both the opportunities and the inherent risks of these new technologies.