As private sector mutual funds are celebrating silver jubilee, ET.com Mutual Funds talked to A Balasubramanian, CEO, Aditya Birla Sun Life Mutual Funds, and the Chairman of AMFI, for his perspective on how the industry has evolved in the last 25 years. Bala, as he is fondly called, started his journey in 1992, and he was considered a great mind in the debt market space, before he became the CIO, and CEO. Incidentally, he completes nine years as CEO today. Edited interview.