Axis MF elevates R Sivakumar as its CIO; Ashish Gupta to step down

Axis Asset Management Company appoints R Sivakumar as chief investment officer as part of an internal succession plan following the exit of Ashish Gupta

Axis Asset Management Company (AMC) has elevated R Sivakumar as its Chief Investment Officer (CIO), effective immediately, as part of an internal succession plan.

 

Sivakumar will lead the fund house’s overall investment strategy, guide the launch of new fund ideas and oversee the investment teams, the company said in a statement on Thursday.

 

The move follows the decision of Ashish Gupta, who served as CIO and headed the investments team, to step down to pursue other professional and personal interests.

 

Sivakumar has been associated with Axis AMC since its inception in 2009 and has played a key role in the firm’s growth into one of India’s largest asset managers. The fund house manages assets worth over Rs 3.75 trillion as of February 2026.

 

 

He has held several leadership roles at the firm spanning fixed income, product strategy and corporate strategy.

 

Before his elevation, Sivakumar served as head of products and corporate strategy and was also responsible for overseeing the firm’s alternative investment fund (AIF) investments. Earlier, he spent 14 years as head of fixed income, where he led the investment strategy for the fund house’s debt offerings.

 

Following the leadership change, Shreyash Devalkar, head – equity; Devang Shah, head – fixed income; and Nandik Malik, head – equity and hybrid SIF, will report to Sivakumar. The company said there are no other changes to the investment leadership structure.

 

Sivakumar holds a Bachelor of Technology degree from the Indian Institute of Technology (IIT) Madras and a postgraduate diploma in management from the Indian Institute of Management (IIM) Ahmedabad.