New Delhi, July 19 -- India's oldest asset manager is trying to stage a comeback after a decade of falling behind faster-growing rivals.

UTI Asset Management Co., which has been weighed down by poor performance, lower share of equity assets, and weak sales, believes years of rebuilding its technology, workforce and distribution are finally behind it.

Under newly appointed managing director and chief executive Vetri Subramaniam, the company is now betting that stronger execution can revive growth.

"UTI is like having a cement plant with a capacity of eight lakh tonnes but producing only four lakh tonnes," Subramaniam told Mint. "The key question is whether we're fully utilising our potential. Right now, we're not."

Over the past decade...