Portfolio Management Services (PMS) have witnessed substantial growth in India, with total assets under management reaching ₹7.08 lakh crore as of Q1 FY25. The segment has expanded at a robust CAGR of approximately 33% over the past decade, according to SEBI data. This growth points to increasing trust among affluent investors seeking personalized wealth management solutions.

A recent 2025 market analysis by CRISIL shows that PMS assets have more than doubled in five years, reflecting the evolution of wealth management preferences among India's high-net-worth individuals. Mumbai, now recognized as Asia's billionaire capital (surpassing Beijing with 27 new billionaires in FY24), has become the epicenter of personalized portfolio management demand.

• Which are the top portfolio management services in India?

• How do you select a PMS that fits your wealth goals amid hundreds of options?

• What factors truly determine the performance of a top-tier PMS beyond their marketing claims?

• Are the higher fees charged by premium PMS providers justified by their actual returns?

The truth is that not all PMS providers deliver the same value despite similar fee structures. PMS investments demand not just capital but careful consideration of investment philosophy, strategy alignment, and proven track records.

Key Takeaways

• Portfolio Management Services (PMS) in India have grown significantly, driven by affluent investors seeking personalized wealth solutions.
  
  

• Top PMS providers in 2025, like Ckredence Wealth, Marcellus, and ASK Investment Managers, offer tailored strategies with proven track records.
  
  

• Minimum investment for PMS is ₹50 lakh, with fees typically including fixed and performance-based components.
  
  

• Selecting the right PMS requires matching investment strategy to your goals, assessing long-term performance, team expertise, and transparency.
  
  

• Ckredence Wealth stands out for its 100% customized portfolios, data-driven strategies, and holistic wealth advisory services.
  
  

• PMS offers higher return potential than mutual funds but demands a longer investment horizon and greater risk tolerance.
  
  

What is Portfolio Management Service (PMS)?

Portfolio Management Service (PMS) is a professional investment solution offered by SEBI-registered portfolio managers who design and manage a personalized portfolio of securities on behalf of clients. The key difference between PMS and mutual funds lies in ownership. In PMS, investors directly own the underlying securities in their portfolio.

PMS providers offer three types of services:

1. Discretionary PMS: The portfolio manager makes investment decisions at their discretion within the agreed guidelines.

2. Non-Discretionary PMS: Investment decisions require prior client approval.

3. Advisory PMS: The portfolio manager only advises the client, who makes the final investment decisions.

The minimum investment requirement for PMS in India is ₹50 lakh, as per SEBI regulations, making it suitable primarily for high-net-worth individuals and ultra-high-net-worth individuals looking for tailored investment solutions.

Top 10 Portfolio Management Services in India for 2025

Here is a list of the top 10 Portfolio Management Services in India, renowned for delivering exceptional results to high-net-worth (HNI) investors.

1. Ckredence wealth

2. Marcellus Investment Managers

3.ASK Investment Managers

4.Abakkus Asset Management LLP

5. SageOne Investment Managers

6.  Emkay Investment Managers

7. Molecule Ventures

8. NJ Advisory Services PMS

9.  Green Portfolio PMS

10. Anand Rathi PMS

1. Ckredence Wealth

Founded in 2018 by Chirag Shah in Surat (home to 175+ ultra-HNIs), Ckredence Wealth PMS offers truly personalized wealth management across 8 cities. Unlike mass-market providers with templated solutions, Ckredence builds deeply researched strategies aligned with each client's unique financial goals and multi-generational wealth needs.

Key Features:

• AUM: ₹550+ crore with 98% annual client retention

• 410+ HNI clients (Client demographics include entrepreneurs, professionals, and NRIs)

• Leadership: 15+ years experience - CIO Rajesh Mehta brings institutional expertise

• Superior Returns: Outperforming benchmarks by 3-5% with lower volatility

• 100% Custom Portfolios: Uniquely tailored to individual goals—no identical portfolios

• Multi-Layered Risk Management: Proven downside protection during the 2020 market crash

• 8+ Asset Classes: Specialized expertise in equity, debt, alternatives, and emerging sectors

• Tax Optimization: 12+ tax parameters saving clients 2-3% annually

• Ongoing Monitoring: Enabling timely tactical adjustments versus industry-standard quarterly reviews

Their investment team (50+ years combined experience) works directly with clients to preserve and grow family wealth across generations. Surat heritage provides unique insights into Gujarat's industrial corridors while maintaining a national perspective.

Client Voices:

"None matched Ckredence's dedication to understanding our family business and creating complementary portfolios." — Prakash J., Manufacturing, Surat

"Direct access to fund managers makes all the difference. I can discuss strategy changes immediately." — Dr. Meera P., Healthcare, Mumbai

"Their tax strategies justified the fee. Returns consistently exceed expectations without excessive risk." — Sanjay T., Tech CEO, Bangalore

Ready to experience truly personalized portfolio management? 

Schedule a complimentary wealth consultation with Ckredence's expert team today →

2. Marcellus Investment Managers

Founded by Saurabh Mukherjea, Marcellus has gained recognition for its "Clean Companies" approach and focus on consistent compounders.

Key Features:

• Concentrated portfolio strategy with focus on corporate governance

• Long-term investment horizon approach

• Emphasis on businesses with sustainable competitive advantages

• Forensic accounting analysis before investment

• Fee Structure: Fixed fee with performance-linked component

Marcellus has built a strong reputation through its rigorous research process and commitment to high-quality companies with clean accounting practices and ethical management.

3. ASK Investment Managers

ASK Investment Managers brings over 40 years of experience in wealth management for HNI clients with a focus on quality growth companies.

Key Features:

• Established presence in the PMS space

• Investment Strategies: India Select, Emerging Opportunities, Growth Portfolio

• Philosophy: Focus on consistent compounders with capital efficiency

• Research-driven bottom-up stock selection process

• Conservative growth-oriented approach

Their disciplined investment approach and long-term track record have made them a preferred choice for conservative growth-oriented investors looking for stability.

4. Abakkus Asset Management LLP

Founded by former Reliance Capital CIO Sunil Singhania, Abakkus combines deep market knowledge with a value-oriented investment approach.

Key Features:

• Benchmark-agnostic portfolio construction

• Mid and small-cap focus for alpha generation

• Research capabilities with sector specialization

• Investment Strategies: All Cap Approach, Emerging Opportunities

• Value investing philosophy with growth characteristics

Abakkus has demonstrated skill in identifying mid-cap companies with potential to become tomorrow's market leaders through careful fundamental analysis.

5. SageOne Investment Managers

Known for their disciplined investment process, SageOne focuses on undervalued small and mid-cap companies with potential for significant re-rating.

Key Features:

• Concentrated portfolio of high-conviction stocks

• Emphasis on businesses with improving capital efficiency

• Management assessment and corporate governance evaluation

• Investment Strategy: Small & Mid Cap Portfolio

• Structured investment process with defined parameters

SageOne's systematic approach to small-cap investing has helped them navigate volatility while delivering strong long-term returns.

6. Emkay Investment Managers

Combining institutional-grade research with portfolio management expertise, Emkay offers specialized investment strategies for different market segments.

Key Features:

• Research platform with sector-specialized analysts

• Thematic portfolios targeting emerging trends

• Strategies across various market capitalizations

• Investment Options: EMPRESS, E.RAYS, E.EDGE

• Quantitative and qualitative selection frameworks

Emkay's systematic portfolio construction processes help maintain consistency through market cycles while capturing sectoral trends.

7. Molecule Ventures

A boutique investment house known for its focused approach to wealth creation through concentrated portfolios of high-growth companies.

Key Features:

• Specialized in identifying business model innovations

• Research-intensive team with client interaction

• High-conviction positions in emerging sectors

• Investment Strategy: Concentrated Growth

• Focus on companies with moats and innovation potential

Molecule's specialized approach works well for investors seeking exposure to businesses with transformative potential in evolving market segments.

8. NJ Advisory Services PMS

NJ combines quantitative models with fundamental research to create systematic investment strategies with disciplined execution.

Key Features:

• Rule-based portfolio construction reducing emotional bias

• Diversified exposure across sectors

• Risk management frameworks

• Investment Strategies: Dynamic Asset Allocation, Value Strategy

• Systematic rebalancing based on parameters

NJ's systematic approach appeals to investors who prefer disciplined, process-driven portfolio management with reduced manager bias.

9. Green Portfolio PMS

Focusing on businesses with sustainable competitive advantages, Green Portfolio emphasizes value investing principles with a quality overlay.

Key Features:

• Management quality assessment as a key filter

• Businesses with predictable cash flows and low debt

• Medium to long-term investment horizon

• Investment Strategy: Special Portfolio

• Philosophy: Value investing with earnings visibility

Green Portfolio's methodical analysis and focus on quality businesses at reasonable valuations provides stability with growth potential.

10. Anand Rathi PMS

With three decades of experience, Anand Rathi delivers consistent returns through a balanced approach to risk and reward.

Key Features:

• Established track record in the industry

• Well-defined investment framework

• Experience: Multi-decade presence in wealth management

• Fee Structure: Fixed fee approach

• Disciplined portfolio construction methodology

Their transparent investment approach and strong risk management make them suitable for investors seeking reliable portfolio performance with limited downside.

How to Choose the Right PMS Provider in India

Selecting the right Portfolio Management Service requires careful consideration of several key factors:

1. Match Investment Strategy with Your Financial Goals

PMS strategies can be broadly categorized as:

• Growth-oriented (higher risk, higher potential returns)

• Conservative (capital preservation focus)

• Balanced (moderate growth with stability)

Your selection should align with your risk appetite, investment horizon, and wealth objectives. A 45-year-old entrepreneur might opt for a growth-oriented strategy, while a 60-year-old retiree might prefer a conservative approach.

2. Analyze Past Performance Across Market Cycles

When reviewing performance data:

• Look beyond one-year returns to 3-year and 5-year performance

• Compare returns with appropriate benchmarks (Nifty 500, BSE 200)

• Check performance in both bull and bear markets

• Assess downside protection during market corrections

What matters is not just the percentage return but consistency across different market conditions. The top PMS options have proven their ability to protect capital during downturns while capturing upside during bull markets.

3. Understand Fee Structures

PMS fees typically include:

• Fixed management fee: Ranges from 1.5% to 2.5% of assets annually

• Performance fee: Some providers charge 10-20% of profits above a hurdle rate

• Exit charges: Many PMS have exit loads decreasing over time (3% first year to 0% after year 3)

A PMS with slightly higher fees but significantly better performance may offer better value than a low-fee option with mediocre returns.

4. Evaluate Fund Manager Experience and Team Stability

The quality of the investment team is crucial:

• SEBI mandates a minimum experience of 5 years for portfolio managers

• Look for fund managers with experience across multiple market cycles

• Check for team stability and low turnover

• Research the key decision-makers' investment philosophy

The best PMS providers maintain stable teams with complementary skills and a consistent investment approach.

5. Consider Transparency and Reporting Quality

Leading PMS providers offer:

• Detailed monthly or quarterly reports

• Clear communication on strategy changes

• Performance attribution analysis

• Regular access to fund managers through calls or meetings

Better transparency helps you make informed decisions about continuing or increasing your investment.

How to Choose the Right PMS for Your Wealth Goals

When selecting a Portfolio Management Service, it's essential to look beyond basic performance metrics. The right PMS should align with your specific wealth goals, risk tolerance, and long-term financial vision. Here's what to consider in your selection process:

1. Investment Philosophy Alignment

Choose a PMS provider whose investment approach matches your financial goals. Some focus on capital preservation with steady growth, while others target aggressive growth with higher volatility. Understanding this alignment ensures your portfolio works toward your specific objectives.

2. Look Beyond Returns to Risk Management

Strong returns mean little without proper risk management. Evaluate how PMS providers performed during market downturns, not just during bull runs. The best managers demonstrate skill in preserving capital during volatile periods while capturing upside during positive markets.

3. Assess Team Expertise and Stability

The quality of the investment team directly impacts your portfolio's performance. Research the experience of key decision-makers, their investment track record across different market cycles, and the stability of the team. A revolving door of fund managers often signals internal issues that could affect performance.

4. Understand Fee Structures Thoroughly

Compare both fixed management fees and performance-based fees across providers. Lower fees aren't always better if they come with subpar performance or service. What matters is the net value delivered after all costs are considered.

5. Evaluate Transparency and Communication

Top-tier PMS providers maintain open communication with clients through detailed reporting, regular updates, and access to decision-makers. This transparency is crucial for understanding your portfolio's performance and maintaining confidence during market fluctuations.

Why Smart Investors Choose Ckredence Wealth

For affluent investors seeking truly personalized wealth management, Ckredence Wealth stands apart from conventional PMS providers. Our approach goes beyond simply managing investments to building comprehensive wealth strategies tailored to your unique financial journey.

What sets Ckredence Wealth apart:

Data-Driven Decision Making with a Human Touch

Our investment team combines proprietary quantitative models with deep qualitative research to identify opportunities other managers miss. This dual approach helps us construct portfolios that deliver consistent performance across various market conditions.

Precision-Engineered Portfolio Construction

Each Ckredence portfolio is built from first principles, considering not just traditional allocation models but your specific tax situation, liquidity needs, legacy planning goals, and risk parameters. This bespoke approach results in portfolios that truly reflect your financial DNA.

Proactive Risk Management Systems

Our multi-layered risk framework monitors your investments continuously, identifying potential concerns before they impact performance. This vigilance allows us to protect capital during downturns while positioning for growth during recoveries.

Holistic Wealth Advisory Beyond Investments

Ckredence integrates portfolio management with comprehensive financial planning, including:

• Sophisticated tax efficiency strategies

• Estate and succession planning

• International investment optimization for NRIs

• Alternative investment access (private equity, structured products)

• Family office services for ultra-high-net-worth clients

Ready to experience truly personalized wealth management? 

Schedule your complimentary portfolio analysis with our senior investment team today →

Conclusion

Portfolio Management Services have evolved to become a vital wealth management tool for affluent Indian investors. The top 10 PMS providers in India for 2025 offer varying strategies, fee structures, and investment philosophies to suit different investor preferences. While past performance should not be the sole criterion for selection, the consistent track records of providers like ICICI Prudential, Motilal Oswal, and ASK Investment Managers demonstrate their ability to deliver value. The right PMS can help you navigate market volatility while working toward your long-term financial goals.

• SEBI registration ensures regulatory oversight and investor protection

• A minimum investment of ₹50 lakh makes PMS best suited for HNI investors

• The customization and direct ownership of securities distinguish PMS from mutual funds

• Regular performance reviews and portfolio rebalancing are essential for optimal results

The selection process demands careful evaluation of your financial goals, risk tolerance, and investment horizon. With the right partner like Ckredence Wealth, PMS can become a powerful tool in your wealth creation journey.

FAQs

What is the minimum investment amount required for PMS in India?

As per SEBI regulations, the minimum investment required for Portfolio Management Services in India is ₹50 lakh. This threshold makes PMS suitable primarily for high-net-worth individuals with substantial investable surplus.

How do PMS returns compare with mutual funds over the long term?

PMS strategies have typically outperformed mutual funds by 3-5% annually over 5-year periods due to their focused approach and flexibility in stock selection. However, this outperformance comes with higher volatility and requires a longer investment horizon of at least 3-5 years.

What factors should I consider when selecting a PMS provider?

When choosing a PMS provider, evaluate their investment philosophy, past performance across market cycles, fund manager experience, fee structure, and quality of reporting. The alignment between your financial goals and the provider's strategy is most crucial for long-term success.

Is PMS suitable for first-time equity investors?

PMS is generally not recommended for first-time equity investors due to its high minimum investment requirement, potential volatility, and need for sophisticated investment understanding. New investors should gain experience with mutual funds before considering PMS investments.