Vetri Subramaniam quits Invesco, to join UTI MF

Vetri Subramaniam, 47, chief investment officer (CIO) at Invesco Mutual Fund has resigned. He will be joining UTI Mutual Fund in February 2017 as group president and head of equities. A respected name in the segment, he was with Invesco (earlier Religare MF) since June 2008. An MBA from IIM-Bangalore, he began as a car loan seller at Kotak Mahindra Finance in 1992. He then moved to Kotak Mahindra MF, at their proprietary trading desk. After gaining experience there, he joined domestic brokerage sharekhan in its founding team. And, returned to Kotak Mahindra MF in 2001 as head of equity.

Later, Subramniam became an advisor to global fund management firm Boyer Allan Investment Management. In February 2006, he joined Motilal Oswal Securities as CIO of their portfolio management service.

His longest stint was with Invesco, where he moved around the time of the global financial crisis of 2008. He helped Religare, as it then was, build business from scratch to nearly ~25,000 crore. The fund house recently saw a change in sponsor, after US-based Invesco acquired full stake in Religare MF, renaming it Invesco MF.

Invesco India Dynamic Equity Fund, a ~142-crore fund managed by Subramniam, has given a 19.05 per cent annualised return over the past three years. In his new position, he will be in charge of fund management of UTI equity schemes, aggregating to about ~38,000 crore.