Portfolio Management Services

At the BFSI Insight Summit 2026, fund managers said SIFs and new PMS rules could widen access to wealth management, supported by rising household wealth and digital distribution

They see multiple advantages - from performance visibility to client stickiness

Portfolio Management Services (PMS) industry recorded a steady rise in assets under management (AUM), which increased 1.8 per cent month-on-month to Rs 43.3 lakh crore in June 2026, reflecting growing investor preference for customised and professionally managed investment solutions. The growth continued to be driven by the discretionary segment, according to a report released by the Association of Portfolio Managers in India (APMI) on Tuesday. The industry's client base also expanded nearly 4 per cent during the month to around 2.20 lakh accounts, indicating broader investor participation in FY27. Of the total AUM, the discretionary segment accounted for Rs 36.72 lakh crore, while the non-discretionary segment managed assets worth Rs 3.42 lakh crore, and the advisory category contributed Rs 3.06 lakh crore. Total inflows surged to Rs 3.55 lakh crore in June from Rs 4,085 crore in May, led by a sharp increase in discretionary inflows. Among asset classes, equity assets rose 1.4 pe

Proposals could help PMS better compete with AIFs and SIFs, say experts

In an overhaul of PMS regulations, Sebi also proposes expanding investment universe to to-be-listed, foreign securities

The newly introduced Specialised Investment Funds (SIFs) have witnessed rapid adoption, with the category crossing Rs 13,814 crore in assets under management (AUM) since the regulatory framework was introduced in February, a top Sebi official said on Friday. Sebi introduced SIFs tobridge the gap between regular mutual funds and high-ticket Portfolio Management Services (PMS). SIFs target sophisticated investors through flexible hedging, derivatives, and long-short strategy. Speaking at Assocham's 17th Mutual Fund Summit, SebiWhole-Time Member Amarjeet Singh said, "The regulatory framework for Specialised Investment Fund (SIF) was introduced last year. The early response has been encouraging." Giving details, he said, "As on May 31 2026, SIFs have already garnered net assets under management of over Rs 13,500 crore, spread across more than 56,000 investor folios". SIFs requires a minimum investment of Rs 10 lakh and allow fund managers to use advanced strategies such as derivatives

MF AUM linked to PMS doubles in less than 3 years, surges to Rs 1 trillion

The market regulator said clients of non-discretionary portfolio management services may pledge securities for loans if the decision is taken independently and for their own benefit

India's PMS industry doubles in a decade to 506 players, managing ₹41 trillion, as looming regulatory changes and competition from AIFs drive consolidation

In a pooled structure, your fate is tied to the collective behaviour of all investors. In a non-pooled one, your portfolio stands on its own

Investing in PMS should be looked at as a test series. You can judge consistency on an ongoing basis but the outcome is drawn out as per the stated objective of the fund

Compliance walls could begin to crack as sovereign and pension money nose their way in

Discretionary segments, he believes, may rebound as interest rates fall, rural incomes improve, and the government steps in with measures such as tax cuts and the Eighth Pay Commission

SIP flows should stabilise and return to their previous growth path as fears of intense trade wars fade after six months of Trump's presidency and 20 days of India-Pakistan tensions

Nuvama Wealth, Marcellus Investment Managers among new MF applicants

Most investors who came in CY 2020 are sitting on handsome gains. But they have never seen a greater-than-10-per cent correction until CY 2025

Angel One, Unifi set to launch first fund this year; four more likely to secure licence this year

PMS assets excluding EPFO and similar entities have grown 116% since FY1

Board meeting on Sep 30, first since conflict of interest allegations against chairperson

The FoF fund manager picks multiple schemes, depending on the FoF's mandate