Compare India's Portfolio Management Services (PMS) — Returns & Rankings

TWRR Returns Across 6M · 1Y · 5Y · Since Inception — 600+ strategies compared · Updated monthly

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Compare 600+ Portfolio Management Services (PMS) funds in India by TWRR returns (Time-Weighted Rate of Return, net of fixed fees), ranked and filterable by category. Held directly in the investor's own demat account for full transactional visibility, unlike pooled mutual funds or AIFs.

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Top 10 strategies are visible. Unlock all 610+ strategies with sortable returns and rankings.

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Returns Risk

All Large Cap Mid Cap Small Cap Micro Cap Multi Cap Flexi Cap Thematic Global

Multi Cap Portfolio Management Services (PMS) strategies invest across large, mid and small cap companies without a fixed allocation mandate. The fund manager has flexibility to shift capital across segments based on where they see the best risk-adjusted opportunity at any point in the cycle.

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Provider ⇅	Strategy	Category ⇅	AUM ₹Cr ⇅	Sharpe 🔒	Sortino 🔒	StDev 🔒	Beta 🔒	MaxDD 🔒	Rating 🔒
Motilal Oswal	Next Trillion Dollar Opportunity Strategy	Multi Cap	4,490	0.0	0.0	+19.3	+1.1	-16.7	Recent Performer
360 One	Multicap PMS	Multi Cap	3,070	-0.4	-0.5	+17.9	+1.1	-17.5	Underperformer
Girik Wealth	Multicap Strategy	Multi Cap	1,571	-0.2	-0.3	+15.8	+1.0	-17.2	Consistent Performer
Securities Investment	Simpl Multi Cap Value Portfolio	Multi Cap	1,468	-0.1	-0.1	+17.4	+1.0	-16.9	Consistent Performer
Nj Asset	Multicap Portfolio	Multi Cap	716	+0.2	+0.3	+19.7	+1.2	-14.4	Consistent Performer
Prudent Investment	Multicap PMS	Multi Cap	383	+0.2	+0.4	+21.9	+1.3	-18.0	Recent Performer
Fortune Wealth	Multicap Value Fund	Multi Cap	371	+0.2	+0.2	+21.0	+1.2	-14.0	Recent Performer
Kriis Portfolio	Multicap Fund Strategy	Multi Cap	360	+0.7	+1.5	+38.9	+1.9	-21.9	Consistent Performer
Narnolia Financial	Multi Cap Strategy	Multi Cap	332	–	–	–	–	–	Recent Performer
Zen Wealth	Multicap Strategy	Multi Cap	283	0.0	0.0	+14.2	+0.8	-10.5	Consistent Performer
Vspartans Consultants	Multicap Portfolio	Multi Cap	255	🔒	🔒	🔒	🔒	🔒	🔒
Basant Maheshwari	Bmw Multi Cap Fund	Multi Cap	229	🔒	🔒	🔒	🔒	🔒	🔒
Nirmal Bang	Bang Equity Multi Cap	Multi Cap	206	🔒	🔒	🔒	🔒	🔒	🔒
Incred Asset	Multicap Portfolio	Multi Cap	188	🔒	🔒	🔒	🔒	🔒	🔒
Sowilo Investment	Multi Cap Fund	Multi Cap	166	🔒	🔒	🔒	🔒	🔒	🔒
Badjate Wealth	Multicap Fund	Multi Cap	157	🔒	🔒	🔒	🔒	🔒	🔒
Mansi Share	Seven Islands Multicap Fund	Multi Cap	145	🔒	🔒	🔒	🔒	🔒	🔒
Invesq Investment	Multicap Opportunities Portfolio	Multi Cap	129	🔒	🔒	🔒	🔒	🔒	🔒
Ckredence Wealth	Diversified Multicap	Multi Cap	125	🔒	🔒	🔒	🔒	🔒	🔒
Asit C. Mehta	Ace Multicap	Multi Cap	117	🔒	🔒	🔒	🔒	🔒	🔒
Marathontrends Advisory	Mega Trends - Multicap Growth	Multi Cap	114	🔒	🔒	🔒	🔒	🔒	🔒
Ventura Securities	Multicap Portfolio Management Scheme	Multi Cap	112	🔒	🔒	🔒	🔒	🔒	🔒
Kedia Shares	PMS Multi Cap	Multi Cap	112	🔒	🔒	🔒	🔒	🔒	🔒
Square 64	S64 Multicap	Multi Cap	107	🔒	🔒	🔒	🔒	🔒	🔒
Ckredence Wealth	Focus Multicap	Multi Cap	92	🔒	🔒	🔒	🔒	🔒	🔒
Equentis Wealth	Multi Cap Portfolio	Multi Cap	85	🔒	🔒	🔒	🔒	🔒	🔒
Ksema Wealth	Wealth Multicap - India Opportunities Fund	Multi Cap	84	🔒	🔒	🔒	🔒	🔒	🔒
Atlas Integrated	Multicap	Multi Cap	64	🔒	🔒	🔒	🔒	🔒	🔒
Eureka Portfolio	Multicap	Multi Cap	64	🔒	🔒	🔒	🔒	🔒	🔒
Guardian Asset	Asset Management Pvt Ltd-Multi Cap	Multi Cap	58	🔒	🔒	🔒	🔒	🔒	🔒
Neo Asset	Core Multicap Equity Strategy	Multi Cap	56	🔒	🔒	🔒	🔒	🔒	🔒
Hdfc Asset	All Cap Portfolio - DPMS	Multi Cap	51	🔒	🔒	🔒	🔒	🔒	🔒

Sort by

Recent Performer

Motilal Oswal

Next Trillion Dollar Opportunity Strategy

0.00

Sharpe Ratio

Multi Cap · ₹4,490 Cr

Underperformer

360 One

Multicap PMS

-0.35

Sharpe Ratio

Multi Cap · ₹3,069 Cr

Consistent Performer

Girik Wealth

Multicap Strategy

-0.19

Sharpe Ratio

Multi Cap · ₹1,571 Cr

Consistent Performer

Securities Investment

Simpl Multi Cap Value Portfolio

-0.07

Sharpe Ratio

Multi Cap · ₹1,468 Cr

Consistent Performer

Nj Asset

Multicap Portfolio

0.23

Sharpe Ratio

Multi Cap · ₹716 Cr

Recent Performer

Prudent Investment

Multicap PMS

0.22

Sharpe Ratio

Multi Cap · ₹383 Cr

Recent Performer

Fortune Wealth

Multicap Value Fund

0.16

Sharpe Ratio

Multi Cap · ₹370 Cr

Consistent Performer

Kriis Portfolio

Multicap Fund Strategy

0.68

Sharpe Ratio

Multi Cap · ₹359 Cr

Recent Performer

Narnolia Financial

Multi Cap Strategy

—

Sharpe Ratio

Multi Cap · ₹332 Cr

Consistent Performer

Zen Wealth

Multicap Strategy

-0.03

Sharpe Ratio

Multi Cap · ₹282 Cr

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Vspartans Consultants

Multicap Portfolio

•••

Sharpe Ratio

Multi Cap · ₹254 Cr

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Basant Maheshwari

Bmw Multi Cap Fund

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Sharpe Ratio

Multi Cap · ₹229 Cr

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Nirmal Bang

Bang Equity Multi Cap

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Sharpe Ratio

Multi Cap · ₹205 Cr

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Incred Asset

Multicap Portfolio

•••

Sharpe Ratio

Multi Cap · ₹187 Cr

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Sowilo Investment

Multi Cap Fund

•••

Sharpe Ratio

Multi Cap · ₹165 Cr

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Badjate Wealth

Multicap Fund

•••

Sharpe Ratio

Multi Cap · ₹156 Cr

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Mansi Share

Seven Islands Multicap Fund

•••

Sharpe Ratio

Multi Cap · ₹145 Cr

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Invesq Investment

Multicap Opportunities Portfolio

•••

Sharpe Ratio

Multi Cap · ₹129 Cr

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Ckredence Wealth

Diversified Multicap

•••

Sharpe Ratio

Multi Cap · ₹124 Cr

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Asit C. Mehta

Ace Multicap

•••

Sharpe Ratio

Multi Cap · ₹117 Cr

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Marathontrends Advisory

Mega Trends - Multicap Growth

•••

Sharpe Ratio

Multi Cap · ₹113 Cr

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Ventura Securities

Multicap Portfolio Management Scheme

•••

Sharpe Ratio

Multi Cap · ₹112 Cr

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Kedia Shares

PMS Multi Cap

•••

Sharpe Ratio

Multi Cap · ₹111 Cr

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Square 64

S64 Multicap

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Sharpe Ratio

Multi Cap · ₹106 Cr

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Ckredence Wealth

Focus Multicap

•••

Sharpe Ratio

Multi Cap · ₹92 Cr

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Equentis Wealth

Multi Cap Portfolio

•••

Sharpe Ratio

Multi Cap · ₹84 Cr

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Ksema Wealth

Wealth Multicap - India Opportunities Fund

•••

Sharpe Ratio

Multi Cap · ₹83 Cr

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Atlas Integrated

Multicap

•••

Sharpe Ratio

Multi Cap · ₹64 Cr

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Eureka Portfolio

Multicap

•••

Sharpe Ratio

Multi Cap · ₹64 Cr

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Guardian Asset

Asset Management Pvt Ltd-Multi Cap

•••

Sharpe Ratio

Multi Cap · ₹58 Cr

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Neo Asset

Core Multicap Equity Strategy

•••

Sharpe Ratio

Multi Cap · ₹56 Cr

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Hdfc Asset

All Cap Portfolio - DPMS

•••

Sharpe Ratio

Multi Cap · ₹51 Cr

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Risk metrics computed on 14 months of monthly returns

Corpus below ₹50 lakhs? Access similar active equity strategies from ₹10 lakhs via Specialised Investment Funds (SIF) — SEBI's newest investment category with a long-short window unavailable in mutual funds. Explore SIF Dashboard →

Looking for alpha? See strategies ranked by alpha in the Monthly Alpha Report →

About this dashboard · methodology

Returns are Time-Weighted Rate of Return (TWRR), already net of fixed fees — the SEBI-mandated standard that makes every PMS strategy comparable across providers. The top 10 strategies are fully visible; unlock the remaining rows with a quick OTP to sort, rank, and explore the complete universe. Data sourced from SEBI/APMI monthly disclosures and refreshed monthly.

All returns are Time-Weighted Rate of Return (TWRR), already net of fixed fees · Rating is a factual, data-derived classification — not an AND Fintech recommendation

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✓ Sort and rank strategies by returns across all categories
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Check Alpha before investing

What is Alpha?

Alpha is how much a strategy earned above its benchmark index. If the benchmark returned 12% and the strategy returned 17%, its alpha is +5% — the value the fund manager added over simply owning the index. Positive alpha is skill; negative alpha means you'd have done better in a low-cost index.

Why consistency matters

One strong year can be luck — a single sector call that happened to work. Alpha that holds across both 1 year and 5 years, through different market cycles, is far harder to fake. That persistence is the closest signal to genuine, repeatable skill.

How we tag each strategy

Consistent Performer Beats its benchmark over 1Y and 5Y

Long-Term Performer Beats over 5Y but not 1Y

Recent Performer Beats 1Y but not 5Y

Recent Launch Under 1 year old or too new to measure

Underperformer Beats neither

A factual classification from published data — not a recommendation.

Unlock to view ranking by alpha in the Monthly Alpha Report →

How PMS is taxed

Same as direct equity

STCG 20% for holdings under 12 months · LTCG 12.5% above ₹1.25 lakh annually · every transaction in your demat is a taxable event — identical to holding stocks directly.

The churn factor

Strategies that trade more frequently to realise gains more often, generate more taxable events. A strategy's turnover, though not the only indicator for taxation, is worth checking with your advisor before you invest.

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Strategies ranked by alpha, refreshed monthly

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Frequently Asked Questions

What is PMS (Portfolio Management Services) in India?

PMS is a SEBI-regulated investment service where a professional fund manager runs an equity portfolio held directly in your own demat account, in your name. The minimum investment is ₹50 lakhs. While most PMS in India operate on a discretionary basis under a Power of Attorney, investors can also opt for non-discretionary PMS, where the provider executes transactions only at the investor's instruction.

What is the minimum investment for PMS in India?

SEBI has set the minimum investment for PMS at ₹50 lakhs. Individual strategies may set higher entry points. As a working rule, PMS suits investors for whom ₹50 lakhs is one allocation within a larger portfolio, not the majority of their investable wealth.

How is PMS taxed in India?

PMS is taxed exactly like direct equity. Every transaction in your demat account is a taxable event — STCG at 20% for listed equity held 12 months or less, LTCG at 12.5% above ₹1.25 lakh annually for longer holdings. Unlike mutual funds, there is no fund-level tax shield.

What does Alpha mean in a PMS strategy?

Alpha is the return a strategy generates above its benchmark index. If the benchmark returned 12% and the strategy returned 17%, it generated 5% alpha. Consistent positive alpha across 1 and 5 years indicates repeatable skill rather than a lucky cycle.

How do I choose the best PMS in India?

Look beyond last year's returns. Evaluate alpha across 1 and 5 years together; consistency across both periods indicates repeatable skill. Then verify fund manager tenure, strategy clarity, complete fee structure, and overlap with your existing holdings.

Which PMS categories can I compare here?

Our dashboard covers eight equity categories: Large Cap, Mid Cap, Small Cap, Micro Cap, Multi Cap, Flexi Cap, Thematic and Global. You can filter and compare strategies within each category by returns and alpha versus their benchmark.

What do the consistency tags mean?

Each strategy is tagged from its published alpha versus benchmark: "Consistent Performer" beats its benchmark over both 1 year and 5 years; "Long-Term Performer" beats over 5 years but not 1 year; "Recent Performer" beats over 1 year but not 5 years; "Recent Launch" is under one year old or lacks measurable alpha data; "Underperformer" beats over neither period. These are factual, data-derived classifications, not recommendations.

How are Portfolio Management Services returns calculated?

All PMS returns in India are reported as TWRR — Time-Weighted Rate of Return — a SEBI-mandated standard. TWRR strips out the effect of investor cash-flow timing (deposits, withdrawals) so that published figures reflect pure investment decision-making. Fixed costs (management fee, brokerage, transaction taxes) are already deducted. Variable performance fees and personal taxes are not included, as these differ per investor.

What is the difference between PMS and mutual funds?

In a mutual fund, your money is pooled with other investors into units. In Portfolio Management Services, stocks are held directly in your own demat account — you see every holding and transaction. PMS has no single-stock concentration cap (mutual funds are limited to 10% per stock), allows covered call strategies, and requires a ₹50 lakh minimum. Mutual funds remain the right vehicle for the building phase; PMS enters when corpus, conviction, and comfort with direct ownership align.

Can NRIs invest in Portfolio Management Services in India?

Yes. NRIs, PIOs, and OCIs can invest in PMS in India, subject to FEMA regulations and RBI guidelines. The investment typically routes through an NRE or NRO account. TDS applies on gains, and the investor may claim DTAA benefits with proper documentation (Form 10F, Tax Residency Certificate). Specific requirements vary by PMS provider and country of residence.

Which PMS gives the highest returns in India?

Returns vary by category and time period. As of our latest quarterly update, the highest 5-year alpha among strategies with ₹1,000+ Cr AUM is held by Aequitas India Opportunities Product, followed by Green Lantern Growth Fund and Valuequest Vision. See our full ranked list at andfintech.in/best-pms-india — sorted by alpha, which measures manager skill rather than market-driven returns.

Is PMS better than mutual funds for ₹1 Crore?

At ₹1 Crore, both PMS and mutual funds are viable. PMS offers direct stock ownership, full portfolio transparency, higher concentration (potential for higher alpha), and tax-loss harvesting on individual positions. Mutual funds offer simplicity, lower fees, and no transaction-level tax events until redemption. Most HNI investors with ₹1 Crore+ use both — PMS for active alpha-seeking allocation and mutual funds for passive or debt allocation.

How can I check PMS performance online?

AND Fintech's PMS Dashboard at andfintech.in/pms lets you compare 600+ SEBI-registered strategies by TWRR returns across 6-month, 1-year, 5-year and since-inception periods. The Monthly Alpha Report at andfintech.in/pms-report ranks every strategy by alpha — return above benchmark. All data is sourced from SEBI/APMI monthly disclosures and updated regularly.

What is the minimum investment for PMS in 2026?

The SEBI-mandated minimum investment for PMS in India is ₹50 lakhs. This was increased from ₹25 lakhs in November 2019 and has remained at ₹50 lakhs through 2026. Some premium PMS strategies may require higher minimums of ₹1 Crore or more, depending on the provider. For investors below ₹50 lakhs, Specialised Investment Funds (SIF) offer similar active strategies from ₹10 lakhs — see andfintech.in/sif.

What are PMS exit loads and lock-in periods?

Most PMS strategies charge an exit load if you redeem within 1-2 years — typically 2-3% in Year 1 and 1% in Year 2, dropping to nil after. There is no SEBI-mandated lock-in period for PMS, but exit loads serve as a soft lock-in. Always check the Investment Management Agreement for the specific exit load schedule before investing. Some strategies have zero exit load from day one.

PMS Section Disclaimer. AND Fintech (ARN-301536, APRN05170) is an AMFI-registered Mutual Fund Distributor and an APMI-registered PMS Distributor — not a SEBI-Registered Investment Adviser. All data is for educational and comparison purposes only and does not constitute investment advice or a recommendation. Performance data is compiled from official regulatory disclosures and updated monthly; while every effort is made to ensure accuracy, AND Fintech accepts no responsibility or liability for any errors, omissions, or discrepancies in the data, or for any decisions taken in reliance on it. Returns are TWRR, net of fixed costs but not variable performance fees or taxes. PMS investments carry market risk and require a minimum of ₹50 lakhs. Tax treatment depends on your individual situation and prevailing law — consult a qualified Chartered Accountant. Past performance is not indicative of future results. Please read all disclosure documents carefully before investing.

Compare India's Portfolio Management Services (PMS) — Returns & Rankings

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