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For affluent investors who wish to gain more control over their portfolios, Portfolio Management Services (PMS) offer a more tailored and strategic alternative to traditional mutual funds. Instead of just buying into a pre-set scheme, you actually own individual stocks and securities – giving you more control, more flexibility, and, ideally, better potential returns.
This preference for tailored investment solutions is reflected in the broader market trend: the PMS segment has been expanding at a robust CAGR of approximately 33% over the past decade (FY14–FY25), with PMS assets reaching ₹7.08 lakh crore as of Q1 FY25.
But with control comes complexity, which is why PMS is typically designed for high-net-worth individuals (HNIs) who want a more personalised, expert-driven investment strategy. And with so many options out there (even from the top 10 PMS providers), picking the right one ultimately comes down to investment philosophy, track record, and how well it aligns with your financial goals.
Which are the Top Portfolio Management Services in India?
India has over 350 SEBI-registered PMS providers. The top 10 PMS in India and their key features are listed below (in no particular order):
| PMS Provider | Key Features |
| Scripbox | Scripbox established the PMS business with a vision to implement diligently researched customised investment strategies which help investors meet their long-term financial goals in a risk appropriate manner. The company offers a bouquet of distinctly different portfolio options. A few of their strategies include: Focused Leadership Portfolio for those who wish to own a Concentrated portfolio of Current and Emerging leaders with proven track recordOptimiser Strategy which is a unique rule-based portfolio of Equity shares selected based on Momentum factor for those who wish to have style diversification in their portfolio.Select Direct Portfolio which is a discretionary portfolio of Direct Plans of Mutual Funds curated with a fundamentally driven process honed over many market cycles for those who wish to measure advisors alpha and then pay a fee.The PMS offerings by wealth managers can be structured either as Non-Discretionary or Discretionary portfolio with a flexibility of fee structure in form fixed or variable plus fixed or only variable to suit customer requirements. You can get additional details by reaching them here! |
| SBI Funds Management Pvt Ltd | SBI Funds PMS is designed to cater to the unique investment needs of a select group of clients who seek focused and personalized portfolios. Trusted by large financial institutions, pension funds, and both local and global asset managers, SBI Funds is one of India’s leading players in the investment space. Key benefits include, tailored investment solutions, professional management by experienced fund managers, continuous portfolio monitoring and performance feedback, diversified risk strategies and commitment to transparency. |
| ASK Investment Managers | ASK Investment Managers is one of the oldest PMS providers in India. With over 20 years of experience in managing wealth for HNIs and UHNIs. PMS strategies include India Select, Emerging Opportunities Portfolio (EOP), India Entrepreneur Portfolio (IEP), India Realty Portfolio (IRP) etc. ASK Investment Managers’ PMS philosophy is based on the following key investment attributes: size, opportunity, quality of business, earnings growth and value. It aims to invest in consistent compounders with a high return on capital employed and strong earnings growth. |
| 360 ONE wealth (formerly IIFL Wealth) | IIFL Wealth, now known as 360 ONE Wealth, leverages a product-centric approach and expertise across asset classes and products. The company’s pillars are Rigorous Research (research expertise span across macroeconomics, sectoral research and industry-specific equity research across Indian, emerging and global markets.), Pioneering Products (a pioneer in product innovations) and Preferential Access (first-mover advantage to unique, value-added investment products ahead of the market). IIFL One’s portfolio management approach focuses on professional advice, scientific deployment process and institutional grade review. |
| Capital Mind Portfolio | Capital Mind takes a disciplined and data-driven approach to investing. It is tailored to investors’ needs and adapts to changing market conditions. The investment strategies cover the entire spectrum, from passive to semi-passive to active equity strategies. Capital Mind’s portfolio strategies include momentum, long-term multi cap, market index, low volatility, and strategic debt. Capital Mind charges a fixed fee on the investor’s account value. This fee is calculated based on daily AUM and charged at the end of each quarter. |
| Banyan Tree PMS | Banyan Tree Advisors focus on preserving capital, beating the risk-free rate of return and beating the equity index rate of return. The company achieves its objectives by investing for the long term in high-quality companies at prices that are at a reasonable discount to their intrinsic value. High-quality companies are the ones with a track record of weathering difficult economic conditions. This limits the company-specific risk. Next, buying stocks when they are at a discount to the underlying business value so that we always have a margin of safety. This reduces the price risk across investments. |
| Motilal Oswal PMS | Motilal Oswal offers a range of products and services, such as broking, asset management, wealth management, investment banking and private equity. MotilalOswal offers various PMS strategies across equity and debt segments such as Next Trillion Dollar Opportunity (NTDO), Value Strategy, Business Opportunities Strategy, IOP v2.0 Strategy etc. The PMS philosophy is based on its QGLP framework, which stands for Quality, Growth, Longevity and Price. Motilal Oswal’s PMS aims to invest in quality businesses with sustainable growth potential at reasonable valuations. |
| Alchemy capital management | Alchemy Capital Management is a boutique investment management firm co-founded by Hiren Ved, Lashit Sanghvi, Late Rakesh Jhunjhunwala and Ashwin Kedia in 1999. The company’s PMS strategies include High Growth Portfolio (HGP), Ascent, Leaders Portfolio (LP), Value Plus Portfolio (VPP) etc. Its philosophy is based on Bottom-Up stock selection whereby companies can perform and realize their full potential irrespective of industry conditions. The PMS aim to invest in high-growth companies with strong competitive advantages and reasonable valuations. |
| ICICI Prudential Asset Management | ICICI Prudential Asset Management is one of the largest asset management companies in India. It has over 28 years of experience in managing mutual funds and PMS. The PMS strategies include Core Strategies, Contra Strategy, Flexicap Strategy, Largecap Strategy, Value Strategy, Thematic Strategies, PIPE Strategy, and Wellness Strategy. ICICI Prudential Asset Management’s PMS philosophy is based on the Business, Management and Valuation framework. The company aims to identify resilient companies with the potential for long-term growth and competent management at reasonable valuations. |
| Kotak Mahindra Asset Management | Kotak Mahindra Asset Management is one of the leading asset management companies in India. It has over 25 years of experience in managing mutual funds and PMS. The PMS strategies include Small and Midcap, Pharma and Healthcare Portfolio, Fincare, and Focused Investment Approach. The PMS philosophy is based on management quality, growing market opportunity, return on invested capital, strong financials and earnings growth, and fair valuations. It aims to invest in companies with sustainable business models that can scale up with high return on capital employed and trustworthy management. |
How to Choose a Suitable PMS Provider in India?
1. Match the PMS Strategy With Your Investment Goals
Select a PMS provider that is consistent with your objectives, whether they are:
- Growth-oriented (higher risk, higher reward)
- Conservative (capital preservation)
- Balanced (moderate growth and stability)
2. Verify SEBI Registration
Make sure your PMS provider is SEBI registered. This ensures regulatory oversight, investor protection, and transparency. Use trusted platforms like PMSBazaar or SEBI’s disclosure documents for performance data and validation.
3. Evaluate Historical Performance Across Market Cycles
Verify past returns of providers over different market cycles, say, 1-year, 3-year, and 5-year returns. Compare against benchmarks such as Nifty 500 or BSE 200 to assess risk-adjusted performance.
4. Assess the Fund Manager’s Experience & Fees
Determine whether the portfolio administrators possess an adequate level of market experience (SEBI mandates a minimum of 5 years).
Also, clarify the fees, which include management charges, performance fees, and any exit charges.
5. Examine the Strategy
Ask about the PMS’s approach to managing market volatility and the techniques they employ to mitigate risk. Verify whether the provider permits the customisation of the portfolio to align with your unique investment preferences and ethical considerations.
6. Check Reviews
Obtain testimonials or evaluations from current investors regarding their satisfaction and experience. You can select providers that provide digital platforms that are both user-friendly and convenient for monitoring your portfolio.
How Scripbox Helps in Tailored Portfolio Management
Scripbox integrates professional expertise with technology to offer tailored PMS services in India:
- Customised Investment Plans: Aligns portfolios with the financial objectives and risk tolerance of the individual.
- Data-Driven Strategies: Employs quantitative models and algorithms to optimise asset allocation.
- Continuous Monitoring: Continuously reviewing the portfolio and making changes to make sure they continue to match client goals.
- Comprehensive Support: Provides wealth management, financial planning, and reporting.
What are the benefits and risks of PMS Investment?
| Benefits | Risks |
| Professional Management: Investments are actively managed by experts. | High Fees: Typically, these fees are higher than those of mutual funds (For instance a ~2% management fee). |
| Portfolios That Are Customised: Customised to your risk profile and objectives. | High Minimum Investment: One must invest a minimum amount of ₹50 lakh. |
| Enhanced diversification by means of investments in several sectors and asset classes. | Liquidity Constraints: Mutual funds are more readily redeemable. |
| Transparent Reporting: Clear visibility of transactions and holdings. | Managerial Risk: The performance of a manager is significantly influenced by their decisions. |
| Tax-Efficient Investing: Managers evaluate the effects of taxes on their buy/sell decisions. | Market and Concentration Risk: Returns are significantly influenced by market fluctuations and stock selection. |
Who should invest in PMS in India?
A PMS fund is ideal for investors who want more tailored investing options than mutual funds.
It is ideal for investors who:
- Have a significant investable surplus between ₹1–3 crore
- Have significant investable assets (minimum ₹50 lakh per SEBI norms)
- Have a long-term investment horizon (typically 3–5 years or more).
- Are comfortable with moderate-to-high risk.
They provide a greater degree of customisation and flexibility than traditional investment vehicles. It is the perfect choice for individuals who are capable of managing short-term market volatility and are in search of customised strategies that are in close alignment with their unique financial objectives or ethical considerations. NRIs, founders, and top executives often prefer PMS due to tax transparency and direct holdings.
Conclusion
Portfolio management gives investors an organised way to build money. PMS offers personalised plans, skilled management, and higher profits, but investors should consider the higher fees, liquidity limits, and hazards. Check that a PMS provider’s philosophy, track record, and service match your financial goals and risk tolerance before choosing one.
Looking at PMS investments? Scripbox experts can determine the best portfolio management solution for your finances.
FAQs
According to SEBI, PMS in India must minimum invest ₹50 lakh.
PMS could be helpful if you are looking for personalised portfolios and professional management; but, it is most suited for those who are comfortable with more risk and have a long-term investing horizon.
The “best” PMS depends on the provider’s experience, financial goals, and risk tolerance.
Mutual funds aggregate money from a variety of investors into standard schemes, while PMS offers personalised portfolios that directly own securities that are customised to meet the unique objectives of each investor.
PMS providers typically impose a fixed management fee (approximately 1–2% annually) and may also impose a performance-based fee. Ensure that fees are clearly defined in advance.
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