What is PMS, in one page.
Portfolio Management Services are SEBI-regulated, individually-managed equity portfolios for investors with ₹50 lakh and above. Less hand-holding than mutual funds, more transparency than an AIF.
The 60-second version.
A PMS is a discretionary investment service where a SEBI-registered portfolio manager builds and manages a custom equity portfolio in your demat account. You see every trade, every charge, every holding — in real time.
It's not a fund. It's not a basket. It's your money, deployed by a professional, in a strategy you chose.
How they actually differ.
Both invest in equities. The similarities end there.
When PMS makes sense.
- You have ₹50 lakh+ to deploy in equities
- You want exposure to a specific manager's style or thesis
- You're comfortable with concentrated portfolios (15–30 stocks)
- You're in a higher tax bracket and want STCG/LTCG control
- You want quarterly manager calls and a real conversation
- You can't deploy ₹50 lakh as lump-sum or in tranches
- You want diversified, low-cost index exposure
- You can't tolerate 20–30% drawdowns in bad years
- You prefer SIP-style monthly investing
- You don't have a CA who can handle PMS tax filing
Three flavors. Pick wisely.
Discretionary
Manager makes all decisions inside the chosen mandate. Most common — and the easiest for first-timers.
Non-discretionary
Manager recommends, you approve every trade. More work, more control.
Advisory
Pure advice, no execution. Rare in India. Best for sophisticated allocators with their own desk.
Already invested in a PMS? Get an honest second opinion.
Upload your latest PMS statement. We'll benchmark it against its peer group, flag fee leakage and concentration risk, and tell you — with receipts — whether to stay, switch, or top up.