Mumbai: UTI Mutual Fund, the country's seventh-largest asset manager, has appointed its chief investment officer (CIO), Vetri Subramaniam, as managing director and chief executive officer effective February 1, 2026. He succeeds Imtaiyazur Rahman, who has been UTI's head since 2018.

The fund house said Rahman will continue as a strategic advisor till June 12, 2026.

Subramaniam joined UTI Mutual Fund in 2017 and became its chief investment officer in 2021. He joins the ranks of Navneet Munot and Anand Radhakrishnan, who also moved from top investment roles to leadership positions. Munot joined HDFC Mutual Fund from SBI Mutual Fund, and Radhakrishnan moved to Sundaram Mutual Fund from Franklin Templeton. Subramaniam's elevation comes at a time when the mutual fund industry is witnessing rapid growth, even as rising competition and the entry of new players are making it increasingly challenging to maintain market share and protect margins.

"The opportunity in the AMC business is large, and the business is scalable. However, increasing competition from new and existing players will make it challenging for the incoming CEO, who must manage scarce talent on one hand and shrinking margins," says Amit Khurana, head of institutional equities, Dolat Capital.