Top 10 Portfolio Management Services (PMS) in India

Managing investments is not easy, especially in a growing market like India. This is where Portfolio Management Services in India play a big role. PMS helps investors manage their wealth professionally. With the right service, one can balance risk and returns effectively. Many PMS companies in India offer expert strategies, but choosing the right one is important.

What is a Portfolio Management Service (PMS)?

Portfolio Management Service (PMS) is similar to a personal assistant for wealthy individuals who need to invest their funds. A SEBI-approved manager creates a special basket of shares for every individual. The major difference between PMS and mutual funds is ownership. In PMS, investors directly own the underlying securities in their portfolio.

PMS contains types:

• Discretionary PMS: Everything is decided by the manager.
• Non-Discretionary PMS: The manager consults with the investor prior to buying or selling.

Things to know about PMS in India

• PMS (Portfolio Management Services) is meant for HNIs/UHNIs who want a dedicated, professionally managed direct equity portfolio with strategy-led stock selection and detailed reporting.
• SEBI requires a minimum investment of ₹50 lakh per PMS client/account (industry standard).
• PMS is different from mutual funds and AIFs as investors get direct ownership under discretionary PMS or non-discretionary PMS structures.

Updated Top PMS in India (2025)

Use the following guide to shortlist the best PMS in India by strategy fit (value/growth/small-cap), risk controls, transparency, reporting standards, portfolio manager fees in India, and long-term performance consistency. The following guide is also suitable for people looking for PMS for HNIs and PMS for NRIs.

Top 10 Indian Portfolio Management Services in India

1. Dezerv PMS

Dezerv PMS is a digital-first portfolio management service designed primarily for HNIs and UHNIs seeking strategy-led direct equity portfolios. The firm focuses on building disciplined, research-backed portfolios while offering a modern and transparent investing experience. Dezerv positions itself as a tech-enabled wealth platform, combining professional fund management with an app- and dashboard-driven onboarding and reporting process. Its approach aims to simplify PMS investing while maintaining institutional-grade portfolio construction. With rapidly growing assets under management, Dezerv has emerged as a notable new-age player in India’s PMS landscape.

Features:

• Digital-First Platform: App- and dashboard-led onboarding and portfolio monitoring.
• Direct Equity Focus: Strategy-driven portfolios with direct stock ownership.
• Performance-Linked Fees: No fixed management fee; profit-sharing model up to 10%.
• High Minimum Investment: PMS minimum ticket of ₹50 lakh as per SEBI norms.
• Growing Scale: Reported AUM crossed ₹10,000 crore last year, with later reports citing higher levels.
• Investor Due Diligence: Investors should review strategy notes, benchmarks, portfolio concentration limits, and exit or lock-in terms before investing.

2. ICICI Prudential PMS

ICICI Prudential PMS is one of the top PMS in India. It provides intelligent plans in shares and debt for various categories of investors. The company has a large team that researches the market very deeply. Its aim is to provide safe and consistent growth for decades. With immense experience in India, it always remains at the top of the PMS in India list. Both aggressive and conservative investors can invest in it. Flexible plans render it suitable for everyone.

Features:

• Contra Strategy: Invests in overlooked stocks that have growth opportunities.
• Flexicap Strategy: A Combination of big, mid, and small stocks for balance.
• Large-cap Strategy: Invests in solid, big companies for stable growth.
• Value Strategy: Selects undervalued companies with long-term prospects.
• PIPE Strategy: Invests in small and mid-sized companies for high growth.

3. Abakkus Asset Management LLP

Abakkus Asset Management was founded by Sunil Singhania, former CIO of Reliance Capital. It is one of India’s leading PMS and is known for its easy and smart approach. Abakkus undertakes intense market research and practises a value approach towards investing. It looks for growing businesses, especially in the middle and small-cap universe. The intent is to discover today’s small businesses with the potential to be tomorrow’s leaders. With its research acumen and defined strategies, Abakkus ranks among the top PMS in India.

Features:

• Benchmark-agnostic: Creates portfolios with unfixed index rules.
• Mid- & small-cap Focus: Identifies growth through smaller companies.
• Sector Study: Strong research in most industries.
• All Cap & Emerging Strategy: Blend of all capitalisations.
• Value with Growth: Purchases well-priced stocks with long-term strength.

4. Kotak PMS

Kotak PMS is a member of Kotak Mahindra Bank. This is one of the top 10 PMS in India. It offers lots of options, such as equity, hybrid, and debt schemes. Kotak PMS employs a smart and efficient team with a client-centric approach. It is suitable for new as well as old investors. The large product portfolio and renowned Kotak brand make it among the top PMS in India. Its aim is to increase wealth securely and intelligently for all kinds of investors.

Features:

• Equity Plans: Invests in solid growing businesses.
• Hybrid Plans: A combination of equity and debt.
• Debt Plans: Safe and steady returns.
• Client First: Investor goal-orientated
• Wide Range: Opportunities for all investors.

5. Marcellus Investment Managers

Marcellus PMS was founded by Saurabh Mukherjea and is one of the leading PMS in India. It is renowned for its “Clean Companies” concept and emphasis on ethical businesses. Marcelus is a believer in the creation of long-term wealth by investing in the best companies only. It verifies each company thoroughly through special research and accounting research before investing. Most people believe in it due to its emphasis on ethics, clean balance sheets, and consistent growth. That is why it ranks among India’s finest PMS.

Features:

• Focused Portfolio: Only a few power companies.
• Long-Term Orientation: Remains for several years.
• Competitive Edge: Selects companies based on strength.
• Forensic Screening: Analyses accounts in great detail.
• Fee Linked: Fixed plus performance fee.

6. Anand Rathi PMS

Anand Rathi PMS has over 30 years of experience in wealth management and is among the top PMS in India. It gives steady returns by keeping a balance between risk and reward. The company follows a clear plan to build safe and strong portfolios. With its long experience and reliable name, many investors see it as one of the best PMS in India. Its apparent and transparent approach creates an ideal option for those seeking frequent growth with low risk.

Features:

• Solid Track Record: Reliable for over 30+ years.
• Distinct Framework: Methodically planned investment approach.
• Multi-Decade Experience: Professional in wealth management.
• Fixed Fee: Straightforward fee mechanism.
• Disciplined Approach: Carefully balanced portfolio construction.

7. Motilal Oswal Asset Management

Motilal Oswal PMS is renowned for its “Buy Right, Sit Tight” principle and is consistently ranked among the top 10 PMS in India. It invests long-term in good, expanding companies. The organisation provides schemes in large-cap, mid-cap, and multi-cap stocks. Its robust research and tested concepts provide consistent returns to investors. Motilal Oswal also provides aids for simple investing and learning. With quality emphasis and risk management, it is one of the best portfolio management services in India for serious investors.

Features:

• Large Choices: Equity, debt, hybrid, and index funds.
• Concentrated Portfolios: Invest in high-growth stocks.
• Easy App: Mobile app for tracking and investing.
• Advanced Tools: RIISE & Research 360 platforms.
• Risk Control: Diversification with stock limits.

8. SageOne Investment Managers

SageOne PMS is renowned for its easy and disciplined approach to investing. It primarily considers undervalued small- and mid-cap stocks that can grow quickly in the future. SageOne selects only a few good stocks and creates a concentrated portfolio. It analyses management, governance, and business resilience prior to investment. With its intelligent and transparent process, SageOne has been able to provide consistent returns even during difficult phases. It is therefore included among the top PMS in India for growth.

Features:

• Focused Portfolio: Selects only a few strong stocks.
• Capital Efficiency: Invests in bettering businesses.
• Management Check: Analyses managers cautiously.
• Small & Mid Cap Focus: Growth from smaller companies.
• Clear Process: Systematic style of investment.

9. ASK Investment Managers

ASK Investment Managers PMS is a 40-year-old wealth management company with an HNI client base that trusts it. It believes in quality growth businesses that can provide steady returns for decades. ASK uses a bottom-up research approach to identify good businesses with strong management. Its investment philosophy is to put money into consistent compounders that grow efficiently and safely. The firm employs a cautious and disciplined strategy, which makes it a suitable investment for risk-averse investors seeking stable growth. It is for that reason that it is one of the top PMS in India.

Features:

• Strong Strategies: India Select, Growth, Opportunities.
• Quality Focus: Selects consistent compounders.
• Deep Research: Bottom-up stock selection.
• Safe Growth: A conservative investing approach.

10. SBI Mutual Fund PMS

SBI Mutual Fund PMS is supported by the credibility of State Bank of India and Amundi (France). It is one of the leading PMS in India with equity and debt schemes for secure and stable growth. The service is designed for affluent investors, as the minimum investment is ₹50 lakhs. SBI PMS offers direct shareholding; hence, each investor has an individual portfolio. It also follows ESG norms to invest in clean and responsible businesses. With professional managers, a simple app, and robust research, SBI PMS is among India’s top PMS.

Features:

• Personalised Plans: Direct holding with individual portfolios.
• Professional Team: Handled by professional fund managers.
• High Entry: Minimum investment of ₹50 lakh.
• ESG Focus: Invests in clean and responsible companies.
• Easy Monitoring: Portfolio updates in the mobile app
• Management Check: Emphasis on honest, efficient managers.
• Low Debt: Invests in financially sound companies.
• Steady Cash Flow: Selects businesses with steady earnings.
• Special Portfolio: Intelligent investment techniques.
• Value Investing: Growth with reasonable price emphasis.

PMS Selection Checklist

Choosing the best PMS in India requires more than just looking at past returns. Since Portfolio Management Services involve direct equity portfolio management and a higher minimum investment of ₹50 lakh, investors—especially HNIs and NRIs—should carefully evaluate regulatory compliance, strategy suitability, risk management, and cost structure. The checklist below helps shortlist a SEBI registered portfolio manager by focusing on transparency, portfolio discipline, and investor alignment.

• SEBI registration & disclosures
• Strategy fit (value/growth/contra/small-cap/multi-cap)
• Portfolio construction limits
• Risk controls and drawdown management
• Reporting frequency and transparency
• Fee structure and exit loads
• Custodian, DP, and operational support
• Suitability for HNIs and NRIs

PMS Fees & Cost Breakdown (India)

Understanding the total cost of ownership is essential before investing in Portfolio Management Services in India. PMS fee structures can vary widely across providers and directly impact long-term returns, especially for HNIs and NRIs investing through direct equity portfolio management. Beyond headline portfolio manager fees in India, investors should review all associated charges disclosed by SEBI-registered portfolio managers, including performance-linked fees, transaction costs, and exit conditions. The table below outlines the typical PMS cost components and what investors should verify in disclosure documents.

City-Wise Demand and NRI Investor Considerations

Portfolio Management Services in India are primarily designed for HNIs and UHNIs, and demand for PMS is strongest in India’s major metro wealth hubs such as Mumbai, Delhi NCR, Bengaluru, Pune, Hyderabad, Chennai, Ahmedabad, and Kolkata. These cities account for a large share of PMS assets due to higher concentration of high-income investors, professional wealth advisory ecosystems, and access to SEBI registered portfolio managers.

Many top portfolio management services in India also support PMS for NRIs, subject to regulatory and operational requirements. NRI onboarding typically depends on completion of KYC and Power of Attorney (POA), applicable country-specific restrictions, and custodian/broker approvals.

For NRIs—especially those investing from GCC countries, the US, the UK, and Singapore—it is important to confirm the following before investing:

• Taxation and performance reporting support
• Repatriation process and account structure
• Documentation timelines and compliance requirements

Clarifying these aspects helps ensure smoother onboarding, compliant operations, and better long-term investing experience under a discretionary PMS or direct equity portfolio management setup.

Conclusion

Selecting the best portfolio management services in India is a matter of personal objectives, risk tolerance, and investment horizon. The top 10 PMS in India mentioned above are names that enjoy credibility along with successful strategies. All these PMS firms in India have something special to offer to investors to increase their wealth. From Dezerv to SBI Mutual Fund, these are the best portfolio management services at present.

FAQs

Source Links Used for the Data Snapshot

• Dezerv PMS page: https://www.dezerv.in/pms
• Dezerv AUM reported (news): https://economictimes.indiatimes.com/
• PMSBazaar (AUM/clients/SEBI reg numbers): https://pmsbazaar.com/
• SEBI minimum investment guidance / circulars: https://www.sebi.gov.in/
• SBI PMS disclosure document PDF: https://sbifunds.com/Assets/images/pdf/Disclosure_PMS.pdf