Equity strategies
Concentrated portfolios of listed shares; values can fluctuate significantly.
- Large-cap
- Mid & small-cap
- Multi-cap & flexi-cap
- Thematic & sectoral
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Portfolio Management Services
A portfolio run by a SEBI-registered manager, held in your name.
In PMS, a portfolio manager invests in shares, bonds or both for you, within a mandate you agree to. The securities sit in your own demat account, so you can see every holding, and your statements show each trade and fee.
At a glance
- Regulator
- SEBI
- Minimum
- ₹50 lakh, in cash or securities
- Ownership
- Securities in your own demat account
- Fees
- Fixed, performance-linked, or both
- Exit charges
- Only in the first 3 years, capped by SEBI
- Our role
- We distribute; the manager runs your portfolio
Terms vary by portfolio manager and strategy. Read the Disclosure Document before investing.
What it is
Unlike a mutual fund, a PMS does not pool your money with other investors’. The securities are held in your own demat account through a custodian, so you can see your holdings, transactions and fees.
The PMS we offer is discretionary. You choose the portfolio manager and agree to the mandate. The manager then makes investment and trading decisions within that mandate; you do not approve each trade.
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You invest
₹50 lakh or more, in cash or eligible securities you already hold.
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The manager invests
Within the agreed mandate, deciding each trade without seeking your approval.
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You see every holding
Regular statements show each stock, trade and fee.
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You track and withdraw
Withdrawals follow your agreement and can take time; exit charges may apply in the first three years.
Types of PMS strategies
Strategies differ by what the portfolio holds. These are examples; actual strategies and fees vary by portfolio manager and are set out in each Disclosure Document.
Fixed-income strategies
Bonds and money-market instruments; interest-rate and credit risks apply.
- Government & corporate bonds
- Money-market instruments
- Credit strategies
Hybrid & multi-asset
A mix of equity, debt and other assets; risk depends on the mix.
- Equity & debt mix
- Multi-asset, which may include ETFs
Is it for you?
May be worth exploring if you…
- Can invest ₹50 lakh or more
- Want to see each holding in your own name
- Have a horizon of several years, especially for equity
- Are comfortable letting the manager trade within an agreed mandate
Pause and consider if you…
- Need guaranteed returns or guaranteed capital
- May need this money soon
- Could not absorb a large fall in value without affecting near-term needs
- Prefer the lower minimum and simpler tax reporting of mutual funds
This is general information, not an assessment of your suitability, which depends on your circumstances and the specific scheme or product.
Safeguards
- Regulated by SEBI under the Portfolio Managers Regulations, 2020
- Securities held in your own name, through a custodian
- Disclosure Document and client agreement before you invest
- Performance reported against a benchmark, in a standard format
- Exit charges allowed only in the first three years, within SEBI limits
Regulation and risk labels do not guarantee returns or prevent losses.
Risks & costs to know
- Market risk: the portfolio can fall, so it can be worth less than you put in
- Concentration: fewer holdings can mean bigger swings than a diversified fund
- Manager risk: results depend heavily on one manager’s decisions
- Liquidity: some holdings, especially small caps, can be hard to sell
- Costs: management and performance fees, plus brokerage and custody charges, reduce returns
Have a concern?Our service: escalation matrix · A fund, scheme or issue: its provider first · Still unresolved: SEBI SCORES or SMART ODR
How we help
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Listen
We understand your goals, time horizon, existing holdings and comfort with risk.
- 2Step 2
Explain options
We set out relevant options from regulated providers, with costs, liquidity and risks side by side.
- 3Step 3
You decide, we coordinate
Once you decide, we help with KYC, paperwork and onboarding with the provider.
- 4Step 4
Review
Supported holdings appear in our app, and we review them with you as markets and life change.
You choose whether to invest, and which manager and mandate to accept. The manager decides each trade within that mandate. How we are paid is disclosed before you invest. See how we’re paid →
Common questions
Short answers to what families ask us most. For anything specific to your situation, talk to us.
Still have a question?Mon–Fri, 8:00 AM – 6:00 PM · Sat, 9:00 AM – 3:00 PM IST
Can I lose money?
Yes. PMS portfolios are market-linked and often concentrated, so their value can fall, sometimes sharply. Returns are not guaranteed.
How is PMS different from a mutual fund?
A mutual fund pools money and you hold units. In PMS, you own the securities directly in your demat account, the minimum is ₹50 lakh, and the portfolio is usually more concentrated.
Will I approve each trade?
No. The PMS we offer is discretionary: the manager decides what to buy and sell within the agreed mandate. You choose the manager and strategy, and you see every trade in your statements.
What fees are charged?
A fixed management fee, a performance fee above an agreed hurdle, or a mix. Performance fees are charged on a high-water-mark basis. All fees are set out in the Disclosure Document and your agreement.
Can I withdraw early?
Yes, as per your agreement. Exit charges may apply only in the first three years, within limits set by SEBI.
Can I invest with shares I already hold?
Often, yes. Many portfolio managers accept eligible securities in place of, or along with, cash, valued as per their policy.
How is PMS taxed?
Because the securities are in your name, each sale by the manager is taxed in your hands as capital gains or other income. Please consult your tax adviser.
Can I invest directly, without a distributor?
Yes. Portfolio managers offer a direct option without a distributor. If you invest through us, we are paid by the portfolio manager, and this is disclosed before you invest.
Talk it through before you decide.
We’ll explain the options and trade-offs. You decide.
PMS investments are subject to market risks. Read the Disclosure Document and client agreement carefully before investing.