Evaluating the Best PMS in India

Evaluating the Best PMS in India: 2025 Rankings, Fees & Performance Comparisons

October 3, 2025 by

Today, high-net-worth investors are starved for clarity. The Portfolio Management Services (PMS) world hums with hundreds of choices—each purporting to deliver market-beating returns. But which ones really outperform in 2025? Let’s dissect, compare performance, fees, and assist you in determining what matters.

Identifying the best PMS in India for 2025

The PMS strategies that continue to rank at the top in risk-adjusted performance are:

  • Buoyant Capital Opportunities Multi-cap, leading in Information Ratio with 2.51 IR and 37.72% five-year return.
  • Green Lantern Capital LLP Growth Fund, besting Mid & Small Cap with 55.01% five-year returns and IR of 2.16.

Their wider Top 10 PMS list shows:

  • Abakkus Emerging Opportunities
  • Carnelian Shift Strategy
  • ICICI Prudential Contra Strategy
  • ALTPORT (known for process-oriented and data-driven PMS solutions)
  • Negen Capital Special Situations
  • Renaissance India Next
  • SageOne Core Portfolio
  • Samvitti Active Alpha
  • Stallion Asset Core Fund
  • Sameeksha Capital Equity Fund

Other credible sources mention Credence Wealth, Marcellus Investment Managers, and ASK Investment Managers as the best PMS providers in 2025.

Real-time winners in a volatile 2025

Markets got choppy mid-year, but some PMS strategies posted amazing monthly performances:

  • June 2025: Multicap strategy of Square 64 Capital jumped 19.4%, the top performer.
  • July 2025: Focused Healthcare Portfolio of InCred Asset Management posted a gargantuan 14.29%. Valcreate’s Lifesciences and Digital Disruption strategies also posted high returns.

PMS categories such as Small Cap, Multi-Asset, Small & Midcap, and Multi/Flexicap generally outperformed larger indices, indicating the advantage of active, conviction-based investing in bear phases.

Fee structures: The big differentiator

Fees can make or break your net returns, particularly over the long term. PMS services are usually offered with:

  • Fixed-only fees (0.25%–2.5% every year), irrespective of performance.
  • Performance-only (profit-sharing) models, where managers get a margin over a benchmark.
  • Hybrid variants combining both.

Capitalmind’s analysis indicates that a simple fixed-fee structure can retain much more capital in the long run. In one case, fixed fees amount to ₹12.18 lakh in six years, against ₹32 lakh under an 8% performance fee, yielding a greater ultimate portfolio value.

Industry trends indicate average PMS fees:

  • Fixed fees: 1%–3% annually
  • Performance share: typical percentages over return thresholds
  • Additional charges: brokerage, custody, exit loads (1–3%), audit fees

What really distinguishes the best PMS in India

Here’s what to pay attention to while comparing PMS providers:

Track record based on risk-adjusted metrics

Don’t merely look at absolute returns—examine metrics such as Information Ratio, Sharpe Ratio, upside/downside capture, and alpha. Buoyant Capital and Green Lantern excel here.

Fee transparency and structure

Lower, fixed fees tend to result in superior compounding. Ensure there is transparency regarding management fees, performance cuts, and hidden charges.

Flexibility and conviction

Seek managers who perform in downturns (such as July 2025) by virtue of good stock selection and tactical changes. Styles such as InCred Healthcare and Valcreate Lifesciences exemplify this.

Seasoned managers and research intensity

Maintain with founder-led or consistent team-led firms.

Category leadership and consistency

Whether multi-cap, mid-small, or thematic, the top-performing PMS sustains performance through cycles.

Bottom line

If you are looking for the top PMS in India in 2025, here is your handy checklist:

  • Seek solid risk-adjusted performance—Buoyant Capital and Green Lantern are good references.
  • Check monthly and thematic performers—InCred, Valcreate, and Square 64 created ripples in 2025.
  • Select positive fees—simple structures tend to beat sophisticated performance terms.
  • Focus on experienced, conviction-driven managers with clarity.

At ALTPORT, we provide a process-driven platform for investments in AIF, PMS, and Gift City Fund. Our skilled experts make the search easy. We match you with PMS plans that suit your objectives, risk tolerance, and fee requirements, supported by data, discipline, and extensive research.