Axis Mutual Fund announces elevation of R Sivakumar as CIO

Axis Asset Management Company today announced the elevation of R Sivakumar as the Chief Investment Officer (CIO) as part of an internal succession plan, as Ashish Gupta, who served as the CIO and led the investments team, has stepped down from his role to pursue other professional and personal interests.

In his new role, effective immediately, Sivakumar will drive Axis AMC’s investment strategy, provide thought leadership on new fund ideas, strengthen its research-led processes, and lead Axis Mutual Fund’s investment teams in alignment with the organisation’s long-term growth aspirations, according to a press release by the fund house.

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Sivakumar, a veteran of the asset management industry, has been associated with Axis AMC since its inception in 2009, playing a pivotal role in its growth journey to one of the largest AMCs in the country with more than Rs 3.75 lakh crore of assets under management (as of February 2026).

With over 25 years of experience, Sivakumar has held several leadership positions and contributed meaningfully to the evolution of Axis AMC’s fixed income portfolio, product strategy, and corporate strategy functions.

Sivakumar served as Head of Products and Corporate Strategy, and was also overseeing the AIF investments as an additional responsibility. He has been instrumental in driving enterprise-wide strategic initiatives and accelerating the organisation’s growth agenda.

Prior to this role, he spent 14 years as Head – Fixed Income, leading the investment strategy for Axis Mutual Fund’s debt offerings and establishing a robust, disciplined approach to fixed-income management. He holds a Bachelor of Technology from IIT Madras and a Post Graduate Diploma in Management from IIM Ahmedabad.

The Axis AMC management placed on record their appreciation for Ashish Gupta’s contributions and his leadership during his tenure with the organisation and wished him the very best in his future endeavours.

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“We look forward to Sivakumar’s extensive experience, deep market insight, and long-standing association with Axis AMC that uniquely positions him to lead our Mutual Fund investments team. The elevation further reflects our commitment to strengthening our focus on continuity, governance, and a disciplined investment framework. We thank Ashish for his leadership and contribution to Axis AMC,” said B. Gopkumar, MD and CEO, Axis AMC.

There are no other changes to the investment leadership structure. Effective immediately, Shreyash Devalkar (Head – Equity), Devang Shah (Head – Fixed Income) and Nandik Malik (Head – Equity and Hybrid SIF) will report to Sivakumar.

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