PMS
Grow Your Wealth with Portfolio Management Services (PMS)
Portfolio Management Services offer a personalised approach to investing, with professionally managed portfolios tailored to individual investor objectives. Built for investors ready to go beyond traditional mutual funds.
- AMFI Registered Mutual Fund and SIF Distributor
- ARN - 194216
- APMI Registered PMS Distributor
- APRN - 10201
What is a Portfolio Management Service?
Portfolio Management Services (PMS) is a professionally managed investment offering where a SEBI-registered portfolio manager builds and manages a customized portfolio of stocks, bonds, or other securities directly in your own demat account — tailored to your specific goals, risk appetite, and preferences, rather than pooled into a common fund structure.
Regulated by SEBI
Every Portfolio Manager operates under SEBI (Portfolio Managers) Regulations, 1993, with mandated disclosure documents, a minimum investment threshold, and regular reporting to protect investors.
Direct Ownership
Unlike mutual funds, securities in a PMS are held directly in your own name and demat account — giving you full visibility and ownership of every holding.
Customized Management
A dedicated portfolio manager designs a strategy around your goals, risk profile, and constraints, rather than applying a one-size-fits-all fund mandate.
Concentrated, High-Conviction Portfolios
PMS portfolios typically hold a focused set of securities, allowing the manager to apply deeper research and higher conviction than a broadly diversified mutual fund.
Investment Vehicle Breakdown
| Product | Minimum Investment | Strategy Flexibility |
|---|---|---|
| Mutual fund | From ₹500 | Tightly defined by category rules |
| SIF | ₹10 lakh | Long-short strategies within SEBI limits |
| PMS | ₹50 lakh | Discretionary, individual portfolio |
| AIF | ₹1 crore | Widest, including unlisted and private assets |
What You Should Know Before Investing
Before investing in a Portfolio Management Service (PMS), it’s important to understand its investment threshold, structure, taxation, and risks. Here’s what every investor should know.
₹50 Lakh Minimum Investment
A Portfolio Management Service requires a minimum investment of ₹50 lakh.
- Applies at the time of onboarding with a single portfolio manager
- Calculated at the PAN level, per SEBI norms
- Once invested, the value can fall below ₹50 lakh due to market movements without triggering a forced exit
How the Threshold Works
The ₹50 lakh requirement applies to the funds and securities brought under management, not to every top-up separately.
- Additional contributions to an existing PMS account are not bound by the ₹50 lakh floor
- Non-cash assets like existing shares can also be brought in to meet the threshold
- The threshold is set by SEBI and reviewed periodically
SEBI-Permitted Structures
SEBI currently permits three structures based on decision-making authority, and portfolios can be built across multiple asset classes.
- Discretionary: manager decides and executes independently
- Non-Discretionary: manager recommends, investor approves each trade
- Advisory: manager advises only, investor executes independently
What is Direct Ownership?
Direct ownership is what differentiates PMS from mutual funds.
- Securities are held in your own name and demat account, not as pooled fund units
- You can see every individual stock or bond in your portfolio at any time
- Corporate actions (dividends, bonuses) accrue to you directly, not through a fund NAV
How PMS Is Taxed
PMS taxation is based on the underlying securities, computed in your own hands.
- Equity holdings: LTCG 12.5%, STCG 20% (as applicable under current rules)
- Debt holdings: Taxed as per the investor’s income tax slab
- Every buy/sell the manager executes is a taxable event for you individually, unlike a pooled mutual fund
Key Risks to Understand
PMS carries a different risk profile from conventional mutual funds.
- Concentration risk from fewer, higher-conviction holdings
- Performance can vary significantly between portfolio managers
- Fees (fixed and/or performance-linked) can be higher than mutual funds
- Direct ownership means more frequent, individually taxable transactions
PMS is a different investment category — not a replacement for traditional mutual funds.
Two Kinds of Investors
Not every investor is the right fit for a PMS. Use this to check whether it aligns with your strategy.
You're Ready for a PMS
You already hold a diversified core portfolio and want more concentrated, customized management.
- Can commit ₹50 lakh+ without needing partial access
- Comfortable with a concentrated, high-conviction portfolio
- Able to sit through periods of underperformance
- Already have a diversified mutual fund base
- Comfortable with the added tax reporting of direct security ownership
A PMS may not fit yet
This would form a large share of your investable assets, or you’re still building your foundation.
- Funds are earmarked for a goal within 3–5 years
- May need to withdraw capital at short notice
- Still building a core allocation via mutual funds/SIPs
- Not yet comfortable with concentrated, single-manager risk
- Prefer simpler tax reporting over individually taxable transactions
Start your journey in 4 simple steps
Investing with us is seamless, secure, and fully aligned with your financial goals — from your first login to your first review.
Complete your KYC
Verify your identity digitally with PAN, Aadhaar, and paperless bank verification.
Confirm Eligibility
Ensure ₹50 lakh minimum is met at the PAN level, aggregated across all PMS investment options.
Choose Your PMS
Pick from Equity, Debt, or PMS matched to your risk appetite.
Track and Review
Monitor performance and risk exposure through your personal dashboard.
Your Trust, Our Priority
We operate under the regulatory guidelines of the Association of Portfolio Managers in India and the Securities and Exchange Board of India (SEBI). Every recommendation is disclosed, and every credential is verifiable.
- APMI Registration Number: APRN-10201
- Current Validity of ARN: 04/08/2027
- Initial Registration Date: 04/09/2029
Book an Appointment
Frequently Asked Questions
What is a Portfolio Management Service and how does it work?
A PMS is a professionally managed investment service where a SEBI-registered portfolio manager builds and manages a customized portfolio of securities directly in your own demat account — giving you a tailored strategy rather than a pooled fund structure.
What's the difference between PMS and a mutual fund?
In a mutual fund, your money is pooled with other investors and you hold units of the fund. In a PMS, securities are held directly in your own name, the portfolio is customized to you, and the minimum investment is significantly higher (₹50 lakh versus as low as ₹500 for mutual funds).
Is PMS safe, and how are risks managed?
PMS is regulated by SEBI, with mandated disclosure documents and reporting standards. However, PMS portfolios are typically more concentrated than mutual funds, which can mean higher volatility — your portfolio manager manages this through diversification within the mandate, stock selection, and ongoing monitoring.
How do I choose the right PMS strategy for my goals?
The right strategy depends on your risk appetite, investment horizon, and whether you prefer a discretionary, non-discretionary, or advisory approach. Our wealth managers help assess this and match you with a suitable portfolio manager or strategy.
How do I monitor the performance of my PMS investments?
You get anytime access to a secure personal dashboard showing your portfolio’s holdings, performance, and manager commentary, along with periodic statements from your portfolio manager.