UTI AMC’s Ajay Tyagi sees Indian equities delivering 12-14% annual returns over long term

Ajay Tyagi, President and Head of Equity at UTI AMC, which managed nearly $165.19 billion in assets as of May 31, 2026, said Indian equities are likely to deliver annualised returns of 12-14% over the next five to 10 years, with active funds aiming to generate modest alpha over benchmarks. He highlighted UTI AMC’s preference for businesses with predictable earnings, strong cash flows, and long growth runways. Tyagi also advised investors to prioritise asset allocation and fund philosophy rather than chase short-term performance.