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Portfolio Management Services
A portfolio management service runs a portfolio of securities in your own name, managed to a strategy, rather than pooling your money into fund units. SEBI sets the minimum investment, currently fifty lakh rupees, which tells you who it is designed for. It is a serious product with real fees, suited to a narrow group of investors.
- Risk
- High and concentrated. PMS strategies typically hold fewer positions than a diversified fund.
- Horizon
- 5+ years, with the minimum ticket to match
Who this suits
- Investors with a substantial portfolio beyond their core diversified holdings
- People who want strategy-level transparency into every holding they own
- Families consolidating a large sum who want it run to a specific mandate
What to be careful about
- Fees. Fixed plus performance structures compound against you just as returns compound for you. Read the schedule before the strategy pitch.
- Concentration is the point of a PMS and also the risk. Fewer positions cut both ways.
- Exit terms and taxation differ from mutual funds, because you own the securities directly and every churn is your capital-gains event.
What you are actually buying
In a mutual fund you own units of a pool. In a PMS you own the shares themselves, in your demat account, managed to the strategy you selected. That brings transparency — you see every holding — and it brings consequences: concentration, direct tax treatment, and fees that reward the manager whether or not the concentration works.
Our honest position
We would rather place you in the right product than the largest one. If your situation is served by diversified funds, that is what we will say, because a client kept for twenty years is worth more than any single placement. When a PMS genuinely fits — the ticket, the temperament, the strategy gap — we help you select among providers and read the fee schedule the way it deserves to be read: slowly.
PMS is offered under separate arrangements from mutual fund distribution; specifics, including provider empanelment, are available when we talk.
Which PMS fees and terms should you ask for?
Request the manager’s disclosure document and written fee schedule. Ask about management and performance fees, how performance fees are calculated, transaction and custody costs, taxes and exit terms. Compare the proposed mandate with your existing holdings before considering a commitment.
Compare the mutual fund alternative · Review your overall financial position
Updated 10 September 2026 · Contact Pardeep Yadav
This product is distributed under separate regulatory arrangements from mutual funds (which we distribute under ARN-86344). Registration and empanelment specifics for this product are available on request — see our disclosures .
Common questions
PMS or mutual funds?
For most investors, including most wealthy ones, diversified mutual funds do the job at a fraction of the fee. A PMS earns its place when the ticket size is comfortably above the minimum, the strategy is genuinely different from what funds offer, and you have read the fee schedule without flinching.
What is the minimum investment?
SEBI sets the floor, currently fifty lakh rupees. Treat the regulatory minimum as a signal rather than a target: if reaching it would strain the rest of your plan, the product is telling you it is not for you yet.
How is a PMS taxed differently?
You own the securities directly, so every sale inside the strategy is a taxable event in your hands in that year, unlike a mutual fund where you are taxed only when you redeem units. High-churn strategies can be meaningfully less tax-efficient than their gross returns suggest.
Explore before you decide
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Not sure what to ask? Start with what you want to achieve and when you might need the money. Read how we are paid before deciding.