Short answerAs on 30 September 2026, the top PMS in India by return horizon were East Green Advisors' Quant Strategy on 1-year returns (57.94%), Stallion Asset Core Fund on 3-year returns (33.41% annualised), and Aequitas India Opportunities Product on both 5-year (30.33%) and 10-year (26.43%) returns. The right PMS for you depends on your horizon, risk appetite and fees, not the single highest number.
- 4return horizons ranked: 1, 3, 5 and 10 years
- ₹50 lakhSEBI minimum for any PMS
- 200+PMS strategies tracked by ALTPORT
- 30 Sep 2026returns as on (APMI data)
Choosing the best PMS in India is not as simple as picking the strategy with the highest recent return. India has hundreds of registered Portfolio Management Services and more than 200 active PMS strategies, which makes it hard to compare performance, risk, fees and investment approach on a like-for-like basis.
Strong returns in a favourable market do not show how a portfolio behaves in a correction or over a full cycle. That is why ALTPORT's comparison of the top 10 PMS in India looks at returns across four horizons, consistency, drawdowns, fees and the fund manager's track record, not one headline number.
ALTPORT tracks 200+ active PMS strategies using data from PMS managers, APMI disclosures and regulatory filings. The suitability of a PMS depends on your circumstances, and a high ranking does not guarantee future performance.
Rankings · returns as on 30 September 2026
Top 10 PMS in India 2026: Rankings by 1, 3, 5 and 10-Year Returns
Short answerThe top 10 PMS in India below are ranked separately on 1, 3, 5 and 10-year returns from APMI data as on 30 September 2026, because a single list hides how differently strategies perform over time. The 3-year view opens first, as it is the most widely used measure for comparing PMS returns in India.
Top 10 PMS in India by 1-year returns
One-year returns show which strategies led the most recent 12 months. They are the most volatile measure, so read them alongside the 3- and 5-year columns.
| # | PMS strategy and manager | 1M | 3M | 6M | 1Y | 2Y | 3Y | 5Y | 10Y | SI |
|---|---|---|---|---|---|---|---|---|---|---|
| 1 | Quant StrategyEast Green Advisors LLP | 5.32% | 15.73% | 56.19% | 57.94% | 16.73% | NA | NA | NA | 21.16% |
| 2 | Keystone FundAmaltas Asset Management LLP | 5.67% | 14.27% | 77.51% | 53.87% | NA | NA | NA | NA | 26.79% |
| 3 | AAA CoutureAlfAccurate Advisors | 2.83% | 11.11% | 59.53% | 49.22% | 20.91% | 27.16% | NA | NA | 26.21% |
| 4 | BB Money PlantBharat Bhushan Equity Traders Limited | 4.20% | 14.76% | 49.64% | 45.19% | NA | NA | NA | NA | 42.33% |
| 5 | Rising StarsSundaram Alternate Assets Ltd | -2.82% | 3.60% | 38.74% | 43.65% | 20.59% | 18.05% | 15.06% | 12.83% | 15.30% |
| 6 | Momentum 20 PMS FundAtlas Integrated Finance Limited | 5.25% | 17.69% | 60.83% | 41.71% | 2.52% | NA | NA | NA | 5.83% |
| 7 | PrudenceSolidarity Advisors Pvt Ltd | 1.74% | 12.77% | 51.25% | 37.77% | 18.08% | 19.68% | 11.90% | 18.15% | 18.68% |
| 8 | Ameya FundWallfort Fund Management LLP | 3.92% | 17.64% | 60.30% | 37.09% | 14.21% | 25.70% | NA | NA | 40.33% |
| 9 | Long Term Equity FundAccelt Asset Management LLP | 3.73% | 16.02% | 46.18% | 35.48% | NA | NA | NA | NA | 19.85% |
| 10 | Equity Multi CapNirmal Bang Securities Pvt Ltd | -0.85% | 11.13% | 38.84% | 34.80% | 10.41% | NA | NA | NA | 22.87% |
Top 10 PMS in India by 3-year returns
Three-year returns cover a full market correction and recovery for most strategies, which makes them the most widely used yardstick for PMS comparison.
| # | PMS strategy and manager | 1M | 3M | 6M | 1Y | 2Y | 3Y | 5Y | 10Y | SI |
|---|---|---|---|---|---|---|---|---|---|---|
| 1 | Core FundStallion Asset Pvt Ltd | 1.59% | 7.82% | 39.90% | 18.39% | 11.35% | 33.41% | 23.79% | NA | 28.31% |
| 2 | Diversified FundWallfort Fund Management LLP | 1.54% | 6.50% | 49.96% | 4.06% | 3.81% | 31.79% | 26.22% | NA | 23.63% |
| 3 | AAA CoutureAlfAccurate Advisors | 2.83% | 11.11% | 59.53% | 49.22% | 20.91% | 27.16% | NA | NA | 26.21% |
| 4 | The OpportunisticJM Financial Limited | 0.02% | 8.35% | 31.13% | 27.29% | 9.62% | 27.11% | 17.85% | NA | 10.15% |
| 5 | Focused Healthcare PortfolioInCred Asset Management | -0.69% | 5.51% | 30.70% | 4.18% | 17.37% | 26.57% | NA | NA | 35.39% |
| 6 | White Pine India Emerging StarsWhite Pine Investment Management Pvt Ltd | 2.70% | 3.59% | 48.05% | 28.45% | 13.95% | 26.42% | NA | NA | 35.89% |
| 7 | Ameya FundWallfort Fund Management LLP | 3.92% | 17.64% | 60.30% | 37.09% | 14.21% | 25.70% | NA | NA | 40.33% |
| 8 | Avenue FundWallfort Fund Management LLP | 0.74% | 11.85% | 24.88% | 23.17% | 14.48% | 24.80% | NA | NA | 25.97% |
| 9 | Growth FundGreen Lantern Capital LLP | -1.89% | -1.48% | 16.45% | 11.44% | 4.36% | 24.68% | 29.14% | NA | 22.22% |
| 10 | DynamoAccuracap | -0.59% | 6.43% | 38.81% | 18.90% | 7.11% | 24.35% | 21.02% | NA | 23.68% |
Top 10 PMS in India by 5-year returns
Five-year returns show compounding across more than one market cycle. Only strategies with at least five years of history qualify.
| # | PMS strategy and manager | 1M | 3M | 6M | 1Y | 2Y | 3Y | 5Y | 10Y | SI |
|---|---|---|---|---|---|---|---|---|---|---|
| 1 | India Opportunities ProductAequitas Investment Consultancy Pvt Ltd | -5.29% | 0.54% | -3.24% | 16.67% | 20.92% | 23.75% | 30.33% | 26.43% | 31.40% |
| 2 | Growth FundGreen Lantern Capital LLP | -1.89% | -1.48% | 16.45% | 11.44% | 4.36% | 24.68% | 29.14% | NA | 22.22% |
| 3 | Diversified Long Term ValueCounter Cyclical Investments Pvt Ltd | -0.77% | 8.63% | 44.07% | 13.44% | 3.38% | 17.62% | 26.26% | NA | 44.54% |
| 4 | Diversified FundWallfort Fund Management LLP | 1.54% | 6.50% | 49.96% | 4.06% | 3.81% | 31.79% | 26.22% | NA | 23.63% |
| 5 | Dividend Yield FundGreen Portfolio Pvt Ltd | -1.96% | 5.26% | 30.63% | 19.12% | 11.02% | 23.49% | 23.99% | NA | 29.47% |
| 6 | Core FundStallion Asset Pvt Ltd | 1.59% | 7.82% | 39.90% | 18.39% | 11.35% | 33.41% | 23.79% | NA | 28.31% |
| 7 | Seeking AlphaNew Berry Capitals Private Limited | -7.10% | -1.13% | 18.72% | 11.43% | 4.60% | 16.04% | 23.04% | NA | 6.62% |
| 8 | PMS Active Alpha MulticapSamvitti Capital Pvt Ltd | -1.73% | 7.82% | 43.01% | 23.40% | 3.58% | 18.58% | 22.42% | NA | 27.34% |
| 9 | Ace Ten Trillion OpportunitiesAsit C Mehta Investment Intermediates Ltd | -4.36% | 2.77% | 37.51% | 22.29% | 4.62% | 21.84% | 22.19% | NA | 18.72% |
| 10 | Alpha FundGreen Lantern Capital LLP | -2.92% | -5.16% | 12.48% | 10.72% | 2.39% | 19.89% | 22.05% | NA | 28.56% |
Top 10 PMS in India by 10-year returns
Ten-year returns are the strictest long-term test. Few PMS strategies in India have a reported decade-long track record.
| # | PMS strategy and manager | 1M | 3M | 6M | 1Y | 2Y | 3Y | 5Y | 10Y | SI |
|---|---|---|---|---|---|---|---|---|---|---|
| 1 | India Opportunities ProductAequitas Investment Consultancy Pvt Ltd | -5.29% | 0.54% | -3.24% | 16.67% | 20.92% | 23.75% | 30.33% | 26.43% | 31.40% |
| 2 | OpportunitiesBuoyant Capital Pvt Ltd | -5.07% | -1.84% | 9.66% | 5.03% | 4.62% | 13.50% | 15.64% | 19.97% | 19.98% |
| 3 | India Equity FundSameeksha Capital Pvt Ltd | -3.05% | -0.21% | 22.69% | 3.73% | 2.63% | 14.56% | 14.78% | 19.92% | 20.15% |
| 4 | PrudenceSolidarity Advisors Pvt Ltd | 1.74% | 12.77% | 51.25% | 37.77% | 18.08% | 19.68% | 11.90% | 18.15% | 18.68% |
| 5 | Rising Star OpportunityValentis Advisors Pvt Ltd | 0.20% | 8.80% | 39.66% | 22.14% | 1.84% | 12.87% | 15.23% | 18.10% | 17.79% |
| 6 | Long Term Value Fund2Point2 Capital | -5.00% | -2.50% | 9.80% | 2.50% | 4.50% | 11.20% | 14.10% | 17.80% | 18.10% |
| 7 | Master Trust India Growth StrategyMaster Portfolio Services Ltd | -0.91% | 3.16% | 26.81% | 10.01% | 3.76% | 12.91% | 12.18% | 17.65% | 24.06% |
| 8 | PlatinumValuequest Investment Advisors Pvt Ltd | -4.05% | 1.99% | 28.92% | 9.00% | -2.37% | 11.18% | 15.16% | 17.61% | 18.36% |
| 9 | PicopowerAccuracap | -3.07% | 0.99% | 28.29% | 12.47% | 1.39% | 15.07% | 13.31% | 17.49% | 21.79% |
| 10 | MicroCentrum PMS | 4.31% | 9.95% | 49.07% | 24.10% | 4.23% | 15.53% | 17.34% | 17.15% | 16.99% |
Returns as on 30 September 2026. 1M to 1Y are absolute returns; 2Y and above are annualised. SI = since inception. NA = track record not long enough. The highlighted column is the ranking basis. Source: APMI, via ALTPORT PMS Performance Report, October 2026. Past performance may or may not be sustained in future. Minimum investment in PMS: ₹50 lakh under SEBI regulations.
Top performing PMS · cross-check
Top Performing PMS in India Across More Than One Time Horizon
Short answerSeven strategies appear in more than one of the four top 10 lists as on 30 September 2026: Stallion Asset Core Fund, Aequitas India Opportunities Product, Green Lantern Capital Growth Fund, Wallfort Diversified Fund, AlfAccurate AAA Couture, Wallfort Ameya Fund and Solidarity Prudence. Showing up across horizons is a simple first check that returns did not come from one lucky period.
Stallion Asset Pvt Ltd
- #1 on 3-year
- #6 on 5-year
- 1Y18.39%
- 3Y33.41%
- 5Y23.79%
- 10YNA
Aequitas Investment Consultancy Pvt Ltd
- #1 on 5-year
- #1 on 10-year
- 1Y16.67%
- 3Y23.75%
- 5Y30.33%
- 10Y26.43%
Green Lantern Capital LLP
- #9 on 3-year
- #2 on 5-year
- 1Y11.44%
- 3Y24.68%
- 5Y29.14%
- 10YNA
Wallfort Fund Management LLP
- #2 on 3-year
- #4 on 5-year
- 1Y4.06%
- 3Y31.79%
- 5Y26.22%
- 10YNA
AAA Couture
AlfAccurate Advisors
- #3 on 1-year
- #3 on 3-year
- 1Y49.22%
- 3Y27.16%
- 5YNA
- 10YNA
Ameya Fund
Wallfort Fund Management LLP
- #8 on 1-year
- #7 on 3-year
- 1Y37.09%
- 3Y25.70%
- 5YNA
- 10YNA
Prudence
Solidarity Advisors Pvt Ltd
- #7 on 1-year
- #4 on 10-year
- 1Y37.77%
- 3Y19.68%
- 5Y11.90%
- 10Y18.15%
ALTPORT analysis of the four ranking tables above. Appearing on more than one list is not a recommendation; it is a starting point for deeper due diligence on drawdowns, fees and fit.
Top 10 PMS in India for the long term
Best PMS Returns Over the Last 10 Years
Short answerAequitas India Opportunities Product leads the 10-year table with 26.43% annualised returns as on 30 September 2026, followed by Buoyant Capital Opportunities (19.97%) and Sameeksha Capital India Equity Fund (19.92%). Only ten strategies in the October 2026 report have a full 10-year record, which is why long-term investors should give these figures extra weight.
What the long-term data shows
- Aequitas India Opportunities Product is the only strategy in the top 10 on both 5-year (30.33%) and 10-year (26.43%) returns.
- Solidarity Prudence ranks 7th on 1-year returns and 4th on 10-year returns, a rare short and long-term overlap.
- Seven of the ten 10-year leaders returned less than 20% over the latest year, a reminder that recent returns say little about long-term quality.
- The 5-year list is led by Aequitas (30.33%) and Green Lantern Capital Growth Fund (29.14%); the tenth place returned 22.05%.
5-year vs 10-year: which should you use?
Use the 5-year table to compare a wider set of established strategies, and the 10-year table to see which processes held up through several full cycles, including the 2020 crash and recovery. A strategy that ranks well on both is a stronger candidate for a long-term core holding.
Selection guide
How to Choose the Best PMS in India for Your Goals
Short answerChoose the best PMS in India by matching the strategy to your time horizon, risk appetite and existing portfolio first, then comparing 3 and 5-year returns, drawdowns, fees and the fund manager's record. A top PMS for an aggressive investor can be unsuitable for someone who needs lower volatility.
7 factors ALTPORT compares beyond headline returns
- 1
1-year, 3-year and 5-year returns. Show how a strategy has performed over a meaningful investment period, not just one good year.
- 2
Performance consistency. Shows whether returns came from one strong market phase or across several market conditions.
- 3
Drawdowns. Show how far the portfolio fell during market corrections and how long it took to recover.
- 4
Benchmark comparison. Compares the strategy with an appropriate index, such as BSE 500 TRI or Nifty 50 TRI, over the same period.
- 5
Investment strategy. Tells you whether the PMS suits your objective, time horizon and risk profile.
- 6
Fund manager track record. Gives context on the manager's experience, philosophy and conduct across past market cycles.
- 7
Fees and expenses. Show how the fee structure changes the return you actually keep.
A 6-step way to shortlist a PMS
- 1
Start with your time horizon, not the return table
PMS is an equity-oriented, actively managed product. If you may need the money within three years, a PMS is usually the wrong vehicle, because concentrated portfolios need time to recover from corrections.
- 2
Decide between multi-cap and small & mid-cap exposure
Multi-cap strategies spread money across company sizes and tend to fall less in sharp corrections. Small and mid-cap strategies have historically offered higher return potential with deeper drawdowns. Pick the category that matches your temperament, not last year's winner.
- 3
Read 3- and 5-year returns before 1-year returns
Any strategy can look exceptional over twelve months if its sectors were in favour. Check whether outperformance came from one year or repeated across horizons; the cross-horizon list above is a quick way to do that.
- 4
Check the drawdown history
Ask what the maximum fall was, how long recovery took and what the manager did during the fall. A portfolio that drops 55% needs a 122% gain just to get back to where it started.
- 5
Research the fund manager
In a PMS the fund manager is the investment thesis. Look at the cycles they have managed through, whether their philosophy is consistent and whether they invest their own money in the strategy.
- 6
Compare net-of-fee returns
Fixed, performance and hybrid fees change what you keep. Compare returns after fees and GST, using the fee illustration further down this page.
Before you shortlist from the top PMS funds in India, compare
- Investment horizon
- Risk appetite
- Existing equity exposure
- Portfolio overlap
- Market-cap preference
- Liquidity requirements
- PMS fee structure
- Historical performance across market cycles
The ranking tables are a starting point, not a recommendation to invest in the PMS ranked first. India's PMS industry has grown quickly, with rising interest from HNIs, family offices and NRIs, so if you want to know which PMS suits you, talk to our experts, who can review your portfolio and goals before suggesting strategies.
Large cap · mid & small cap · multi cap · thematic
Best PMS in India by Category
Short answerThe best PMS in India by category differs because each market-cap focus carries a different risk: large-cap PMS aims for steadier compounding, mid and small-cap PMS for higher growth with deeper drawdowns, multi-cap PMS for flexibility, and thematic PMS for concentrated sector bets. Pick the category first, then compare strategies within it.
Large Cap PMS Comparison
The best large-cap PMS strategies focus on market leaders with strong balance sheets, stable earnings and lower volatility. They allocate capital to established businesses across banking, IT, energy and consumption, and suit investors seeking steady long-term compounding with controlled downside risk.
| Strategy | 1Y | 3Y | 5Y | AUM (Jan 2026)* | Returns as on |
|---|---|---|---|---|---|
| ACE15 | 10.78% | 20.83% | 19.77% | ₹4.33 Cr | 31 Jan 2026 |
| ICICI Pru Large Cap | 13.74% | 21.38% | 20.91% | ₹904.49 Cr | 31 Jan 2026 |
| Renaissance Opportunities | 3.56% | 16.95% | 18.31% | ₹630.58 Cr | 31 Jan 2026 |
ACE15 PMS
Follows a high-conviction large-cap strategy, typically holding a concentrated portfolio of around 15 to 20 companies. The focus is on businesses with strong competitive advantages, predictable earnings growth and high return on capital, mainly in financial services, IT services and consumer sectors.
ICICI Prudential Large Cap Strategy
Known for consistent performance and a strong risk-management framework. It focuses on sector leaders with sustainable earnings growth, weighted towards large banks, technology companies and industrial leaders, and aims to hold up during market corrections.
Renaissance Opportunities Portfolio
Blends large-cap stability with selective mid-cap exposure, aiming for higher alpha than a pure large-cap portfolio. Typical allocation: large cap about 60 to 70%, mid cap about 20 to 30%, and cash or tactical allocation about 5 to 10%.
Best Mid & Small Cap PMS in India
The best small and mid-cap PMS strategies look for emerging companies early in their expansion cycle. The trade-off is higher volatility and deeper drawdowns during market corrections.
| Strategy | 1Y | 3Y | 5Y | AUM (Jan 2026)* | Returns as on |
|---|---|---|---|---|---|
| Green Lantern Growth Fund | 11.44% | 24.68% | 29.14% | ₹1,274 Cr | 30 Sep 2026 |
| Wallfort Diversified Fund | 4.06% | 31.79% | 26.22% | ₹369 Cr | 30 Sep 2026 |
| ValueQuest Platinum | 9.00% | 11.18% | 15.16% | ₹2,939 Cr | 30 Sep 2026 |
One of the more aggressive growth PMS strategies in India, focused mainly on mid-cap companies with strong earnings momentum and sector leaders in emerging industries. As on 30 September 2026 it reported 24.68% annualised over 3 years and 29.14% over 5 years, the second-highest 5-year figure in the October 2026 report.
Invests in companies benefiting from India's structural growth themes such as manufacturing, capital goods and consumption, with diversified sector exposure. It appears in both the 3-year (31.79%) and 5-year (26.22%) top 10 as on 30 September 2026, although its 1-year return was 4.06%.
ValueQuest Platinum Portfolio
Known for high-conviction small-cap investing in undervalued emerging businesses. Key traits: small-cap exposure of about 55 to 60%, mid-cap exposure of about 25 to 30%, and a concentrated portfolio. It is one of the few strategies with a 10-year record (17.61% annualised as on 30 September 2026).
Best Multi Cap PMS in India
Multi-cap PMS strategies invest across large, mid and small companies, giving the manager flexibility to find opportunities anywhere in the market. Over long cycles this approach has typically produced steadier risk-adjusted returns than single-segment strategies.
| Strategy | 1Y | 3Y | 5Y | AUM (Jan 2026)* | Returns as on |
|---|---|---|---|---|---|
| Stallion Asset Core Fund | 18.39% | 33.41% | 23.79% | ₹6,361 Cr | 30 Sep 2026 |
| Samvitti Active Alpha Multicap | 23.40% | 18.58% | 22.42% | ₹234 Cr | 30 Sep 2026 |
| Buoyant Capital Opportunities | 5.03% | 13.50% | 15.64% | ₹8,402 Cr | 30 Sep 2026 |
| ICICI Prudential Contra Strategy | 12.95% | 20.86% | 22.82% | ₹12,907 Cr | 31 Jan 2026 |
| Abakkus All Cap Strategy | 15.57% | 18.86% | 22.45% | ₹7,553 Cr | 31 Jan 2026 |
Combines large-cap stability with mid and small-cap growth: roughly 50% large cap, 30% mid cap and 10 to 15% small cap. It ranked first on 3-year returns (33.41% annualised) in the October 2026 report and also appears in the 5-year top 10.
Samvitti Active Alpha Multicap
A concentrated multi-cap portfolio built around high-conviction ideas from deep fundamental research, with a focus on businesses with scalable earnings and long holding periods. It is in the 5-year top 10 as on 30 September 2026 (22.42%).
Buoyant Capital Opportunities Strategy
Known for quality-focused investing in companies with sustainable competitive advantages and strong earnings visibility, with balanced exposure across market caps. It ranks second on 10-year returns (19.97% annualised) as on 30 September 2026.
ICICI Prudential Contra Strategy
Follows a contrarian philosophy: investing in sectors and companies that are temporarily out of favour but fundamentally strong, with a large-cap core, mid-cap opportunities and sector rotation across market cycles.
Focuses on long-term structural growth across sectors and market capitalisations, with a typical mix of about 50% large cap, 30% mid cap and 20% small cap.
Best Thematic PMS in India
Thematic PMS strategies concentrate on specific industries or long-term economic trends. They can outperform strongly when their sector is in favour but carry higher sector-specific risk.
| Strategy | 1Y | 3Y | 5Y | AUM (Jan 2026)* | Returns as on |
|---|---|---|---|---|---|
| InCred Focused Healthcare | 4.18% | 26.57% | NA | ₹508 Cr | 30 Sep 2026 |
| ICICI Pru Infrastructure | 25.96% | 32.73% | 29.83% | ₹66 Cr | 30 Apr 2026 |
| Valcreate Lifesciences | 4.96% | NA | NA | ₹15 Cr | 31 Jan 2026 |
A sector-focused portfolio of pharmaceuticals, hospitals, diagnostics and healthcare services. The thesis rests on rising healthcare spending in India, global demand for generics and APIs, and growth in diagnostics and hospital infrastructure. It ranks fifth on 3-year returns (26.57%) as on 30 September 2026.
ICICI Prudential Infrastructure Strategy
Targets companies linked to infrastructure creation, such as capital goods, construction, power and logistics, for investors who want focused exposure to India's infrastructure build-out.
Focuses on life sciences and pharmaceutical innovation through research-driven stock selection, R&D-led pharmaceutical companies and export-oriented healthcare businesses.
Each row shows the latest return figures available to ALTPORT, with its own as-on date: 30 September 2026 (October 2026 report), 30 April 2026 (May 2026 report) or 31 January 2026. *AUM is the strategy-level figure as on 31 January 2026, except ICICI Pru Infrastructure (30 April 2026). Category labels follow ALTPORT's classification.
PMS performance comparison · 5 years vs benchmark
5-Year PMS Returns vs Benchmark: Who Delivered Consistent Alpha?
Short answerOver the five years to 31 January 2026, the 15 strategies below beat their benchmarks by roughly 15 to 63 percentage points a year, with maximum drawdowns of 25% to 34%. This table covers the 2021 to 2025 market cycle and adds the benchmark, alpha and drawdown context that a plain return table leaves out.
| # | PMS strategy and benchmark | AUM (₹ Cr) | 5Y annualised | Benchmark | Alpha | Max drawdown |
|---|---|---|---|---|---|---|
| 1 | Alpha PortfolioNifty 50 TRI | 9.35 | 77.21% | 14.54% | +62.67% | -28% |
| 2 | Aequitas India OpportunitiesNifty 50 TRI | 4,862 | 49.21% | 14.54% | +34.67% | -31% |
| 3 | GLC Growth FundBSE 500 TRI | 1,274 | 42.72% | 16.44% | +26.28% | -34% |
| 4 | Diversified Long Term ValueBSE 500 TRI | 779 | 39.64% | 16.44% | +23.20% | -30% |
| 5 | ICICI Pru India RecoveryBSE 500 TRI | 44.51 | 37.52% | 16.44% | +21.08% | -27% |
| 6 | SEERS Enduring PortfolioNifty 50 TRI | 340.6 | 36.68% | 14.54% | +22.14% | -25% |
| 7 | Diversified StrategyBSE 500 TRI | 369.17 | 35.53% | 16.44% | +19.09% | -29% |
| 8 | Emerging OpportunitiesBSE 500 TRI | 156.18 | 34.29% | 16.44% | +17.85% | -33% |
| 9 | Dynamic Investment ApproachBSE 500 TRI | 951.98 | 33.70% | 15.01% | +18.69% | -26% |
| 10 | ICICI Pru InfrastructureBSE 500 TRI | 66.24 | 33.01% | 16.44% | +16.57% | -30% |
| 11 | Emerging Sector OpportunityBSE 500 TRI | NA | 32.56% | 16.44% | +16.12% | -32% |
| 12 | QueenbeeBSE 500 TRI | 93.25 | 32.24% | 15.01% | +17.23% | -28% |
| 13 | Green Portfolio Super 30BSE 500 TRI | 184.1 | 32.02% | 16.44% | +15.58% | -29% |
| 14 | BEA India Growth FundBSE 500 TRI | 466.48 | 31.50% | 16.43% | +15.07% | -27% |
| 15 | MAPL Value Investing FundBSE 500 TRI | 305.35 | 31.22% | 16.44% | +14.78% | -26% |
5-year annualised returns as on 31 January 2026, from SEBI and APMI disclosures as published on this page in February 2026. Alpha = strategy return minus benchmark return. Past performance does not guarantee future results.
Performance insights: the 2021 to 2025 cycle
Alpha Portfolio reported the highest figure, 77.21% annualised against about 14.5% for the Nifty 50 TRI, on a very small AUM of ₹9.35 crore. Aequitas India Opportunities Product and GLC Growth Fund also delivered more than 40% a year, helped largely by mid and small-cap exposure during the post-pandemic rally.
Small cap vs multi cap PMS strategies
- Small-cap focused strategies produced the highest absolute returns, helped by the 2021 to 2024 rally in manufacturing, capital goods, defence and chemicals.
- Their drawdowns were also larger: several fell 30 to 35% from peak during corrections.
- Multi-cap PMS delivered the best risk-adjusted returns, capturing growth with better downside protection.
- For investors comparing the top 10 PMS in India for the long term, multi-cap portfolios gave more balanced results across cycles.
PMS fees and charges
PMS Fees in India: Which Portfolio Management Services Have the Lowest Fees?
Short answerPMS fees in India follow three models: a fixed fee of 0.25% to 2.5% a year, a performance fee of 10% to 20% of profits above an 8 to 10% hurdle, or a hybrid of both. No model is always cheapest: in ALTPORT's illustration, a performance-only fee costs least when returns are 8 to 15% a year, while a fixed fee costs least at 25%.
Fixed fee
0.25% to 2.5% a year
An annual management fee charged on portfolio value regardless of performance. Costs are predictable, and the model is common among long-term value strategies.
Performance fee
10% to 20% above a hurdle
The manager takes a share of profits above a hurdle rate, typically 8 to 10% a year. You pay only when the portfolio beats the hurdle, which aligns the manager with your returns.
Hybrid fee
1% to 2% plus a profit share
A lower fixed fee combined with a performance share above a hurdle. It is the most common model among modern PMS strategies.
SEBI sets a standard ₹50 lakh entry ticket, but fee models differ widely. SEBI also caps exit loads at 3% in year one, 2% in year two and 1% in year three, requires performance fees to be charged on a high-water-mark basis, and all fees attract 18% GST.
Top 10 PMS fees snapshot
| Fund | Type | Inception | Min. investment | Fixed fee | Variable fee option | Exit load |
|---|---|---|---|---|---|---|
| GLC Growth Fund | Equity | Dec 2017 | ₹50L | 2.50% | Fixed 1.5% | Profit 12% | Hurdle 10% | 1Y: 3%, 2Y: 2% |
| Wallfort Diversified | Equity | Nov 2018 | ₹50L | 2% | AMC 2% | Performance 10% | NA |
| Stallion Core Fund | Equity | Oct 2018 | ₹50L | 2.50% | AMC 1.5% | Profit 15% | Hurdle 10% | 1Y: 2% |
| Buoyant Opportunities | Equity | May 2016 | ₹50L | NA | NA | 0% |
| ICICI Pru Contra | Equity | Sep 2018 | ₹50L | NA | NA | NA |
| Abakkus All Cap | Equity | Oct 2020 | ₹50L | NA | NA | NA |
| Carnelian Shift Strategy | Equity / MF | Oct 2020 | ₹50L | NA | NA | NA |
| Negen Special Situations | Equity | Aug 2017 | ₹50L | NA | NA | NA |
| Renaissance India Next | Equity | Apr 2018 | ₹50L | NA | NA | NA |
| Samvitti Active Alpha | Deriv / Equity / MF | Feb 2018 | ₹50L | NA | NA | NA |
Fee terms as listed by each manager in early 2026. NA = not disclosed to ALTPORT at the time. Verify the current fee schedule in the PMS agreement before investing.
Why PMS fees matter more than investors think
The table shows total fees paid on ₹50 lakh over five years under each model, and what the portfolio ends at, for three gross-return scenarios.
| Gross return | Fixed 2.5% | Hybrid 1.5% + 15% over 10% | Performance 20% over 8% |
|---|---|---|---|
| 8% a year | ₹7.50 Lends at ₹64.73 L | ₹4.60 Lends at ₹68.12 L | ₹0.00 Lends at ₹73.47 L |
| 15% a year | ₹9.15 Lends at ₹88.61 L | ₹7.15 Lends at ₹91.24 L | ₹4.59 Lends at ₹94.59 L |
| 25% a year | ₹12.06 Lends at ₹134.44 L | ₹14.63 Lends at ₹130.53 L | ₹13.05 Lends at ₹132.93 L |
Illustration only, calculated by ALTPORT. Assumes ₹50 lakh invested for 5 years, the same gross return every year and fees charged annually; excludes GST, brokerage, custody charges and high-water-mark effects. L = lakh. Always evaluate net-of-fee PMS returns, because they decide your actual wealth creation.
Our methodology
How ALTPORT Ranks the Top PMS in India
Short answerALTPORT ranks the top PMS in India in two stages: the return tables rank strategies by reported 1, 3, 5 and 10-year returns, and the shortlist then applies the 3I Framework for portfolio quality and the SOUL Framework to separate skill from luck. Raw returns rarely tell the full story, because a strategy that tops the charts one year can fall sharply the next.
Read more about our ranking methodology.
The 3I Framework: evaluating strategy quality
- I
Investment Style
Clarity of philosophy, portfolio construction method and ability to adapt across market cycles.
- I
Investment Quality
Strength of company fundamentals, competitive advantages, management credibility and balance-sheet health.
- I
Investment Performance
Long-term annualised returns, drawdown control in market falls, recovery speed and consistency across cycles.
The SOUL Framework: separating skill from luck
A strategy can outperform for a few years simply because its sectors are in favour. The SOUL Framework places results in four zones.
High skill + high luck
The best position
A strong process plus favourable markets. Returns are more likely to be repeatable.
High skill + low luck
The potential zone
A strong process held back by temporary market conditions. These often become future outperformers.
Low skill + high luck
The trap zone
Impressive short-term returns driven by randomness. Performance fades when conditions change.
Low skill + low luck
The avoid zone
Neither a disciplined process nor favourable conditions. Persistent underperformance across cycles.
Key metrics used in PMS ranking
Return metrics
- 1-year return: recent performance trend
- 3-year annualised return: medium-term execution
- 5-year annualised return: long-term compounding
Risk-adjusted metrics
- Sharpe ratio: excess return per unit of total risk
- Information ratio: consistency of benchmark outperformance
- Sortino ratio: return per unit of downside volatility
Consistency and drawdowns
- How often the strategy beats its benchmark
- Depth of drawdowns in corrections
- Speed of recovery after market falls
Fees and net returns
- Every strategy is assessed on net-of-fee performance, so comparisons reflect what investors actually receive after management and performance fees.
Fund manager track record
- Investment experience across market cycles
- Consistency of strategy execution
- Performance across previous mandates
Why does a process-based PMS ranking matter?
A purely performance-based ranking can steer investors towards strategies riding temporary momentum rather than lasting skill. Combining the 3I Framework, the SOUL model and quantitative risk metrics highlights strategies that show:
- Repeatable investment processes
- Consistent benchmark outperformance
- Strong risk-adjusted returns
- Long-term wealth creation potential
People behind the portfolios
Top PMS Fund Managers in India 2026
Short answerIndia's top PMS fund managers include Saurabh Mukherjea (Marcellus), Sunil Singhania (Abakkus), Kenneth Andrade (Old Bridge), Samir Arora (Helios) and Amit Jeswani (Stallion Asset), most with 25 to 39 years of market experience. In a PMS, the fund manager effectively is the investment thesis, so their record matters as much as the returns table.
| Fund manager | AMC | Role | Experience | Qualification |
|---|---|---|---|---|
| Saurabh Mukherjea | Marcellus | Founder & CIO | 25+ yrs | BSc & MSc Economics (LSE) |
| Sunil Singhania | Abakkus | Founder | 30+ yrs | B.Com, CA, CFA |
| Kenneth Andrade | Old Bridge | CIO | 34+ yrs | B.Com (Finance & Economics) |
| Aman Chowhan | Abakkus | Senior Fund Manager | 22+ yrs | B.Com, MBA Finance |
| Madhusudan Kela | Singularity | Mentor & IC Chairman | 34+ yrs | B.Com, MMS/MBA |
| Samir Arora | Helios Capital | Founder | 30+ yrs | B.Tech, MBA (Gold Medalist), MS Finance |
| Amit Jeswani | Stallion Asset | Founder | 16+ yrs | BBA Finance, CFA, CMT |
| Raamdeo Agrawal | Motilal Oswal AMC | Chairman | 39+ yrs | B.Com, CA |
| Hiren Ved | Alchemy Capital | Director & CIO | 30+ yrs | B.Com, CA |
| Prashant Khemka | White Oak Capital | Founder | 25+ yrs | MBA Finance, CFA |
Who is a PMS fund manager?
A PMS fund manager is a SEBI-regulated investment professional who designs and runs individual portfolios for investors with at least ₹50 lakh. Unlike a mutual fund manager, who runs one pooled fund, a PMS manager oversees portfolios held in each client's own account, which allows more customisation. Explore PMS strategies on ALTPORT.
Role of a PMS fund manager
Portfolio strategy design
Defines the philosophy and structure: large-cap stability, mid-cap growth, multi-cap diversification or a theme.
Stock selection and research
Studies financial statements and earnings growth, competitive position, management quality and governance, and sector and macro trends.
Portfolio construction
Decides how capital is spread across stocks and sectors, balancing diversification with high-conviction ideas.
Risk management
Monitors volatility, sector exposure, liquidity risk and drawdowns to protect capital in downturns.
Monitoring and rebalancing
Reviews the portfolio regularly, rebalances allocations and adjusts positions as opportunities and risks change.
Investor communication
Explains portfolio decisions, market outlook and strategy updates directly to investors.
For first-time PMS investors
PMS vs Mutual Funds: Why HNIs Choose PMS
Short answerPMS suits HNIs who want a customised portfolio and direct ownership of stocks, while mutual funds suit investors who want a low-cost pooled product from as little as ₹500. The two differ in minimum investment, ownership, customisation, taxation, transparency and fees.
| Parameter | PMS | Mutual funds |
|---|---|---|
| Minimum investment | ₹50 lakh (SEBI mandated) | ₹500 to ₹5,000 |
| Ownership of securities | Held directly in the investor's demat account | Investor owns units of the fund |
| Portfolio customisation | Can be tailored to the mandate | Same portfolio for all investors |
| Regulation | Regulated by SEBI | Regulated by SEBI |
| Taxation | Each transaction taxed in the investor's hands | Taxed when units are redeemed |
| Transparency | Full visibility of every holding | Periodic disclosure of holdings |
| Fees | Fixed, performance or hybrid | Annual expense ratio |
PMS or mutual fund: which is better?
The main appeal of PMS is personalisation and flexibility. Portfolios can be tailored to your risk tolerance, goals and horizon, and you can see exactly which companies you own. PMS strategies often run high-conviction portfolios in which managers concentrate capital in their best ideas.
For investors with ₹50 lakh or more who want personalised equity exposure and direct stock ownership, PMS offers clear advantages; for smaller amounts or investors who prefer simplicity, mutual funds remain the natural choice.
PMS alongside AIFs and GIFT City funds
PMS also works alongside AIF strategies for sophisticated investors. See AIF Category I, II and III: key differences. For NRIs, GIFT City PMS structures can offer additional tax advantages.
For NRI investors and taxpayers
Can NRIs Invest in PMS in India, and How Are PMS Returns Taxed?
Short answerYes, NRIs can invest in PMS in India through an NRE (repatriable) or NRO (non-repatriable) account with a demat account and KYC, under FEMA rules, with the same ₹50 lakh minimum. PMS gains are taxed as capital gains in the investor's own hands on every sale, so turnover and residency both affect what you keep.
PMS for NRIs: what to check
- Choose NRE for repatriable investments or NRO for non-repatriable funds, as your bank and the portfolio manager require.
- Some portfolio managers do not onboard residents of the US or Canada because of FATCA reporting; ask before applying.
- Tax on capital gains is usually deducted at source for NRIs; a Double Taxation Avoidance Agreement (DTAA) may let you claim credit where you live.
- GIFT City structures can be more tax-efficient for some NRIs; compare them before choosing a domestic PMS.
ALTPORT works with investors across India, the UAE, the UK, the USA, Singapore and Australia.
How PMS returns are taxed in India
- Short-term capital gains on listed equity held up to 12 months: generally taxed at 20%.
- Long-term capital gains on listed equity held over 12 months: 12.5% on gains above ₹1.25 lakh a year.
- Dividends are added to your income and taxed at your slab rate.
- Unlike mutual funds, every sale inside a PMS is a taxable event for you, so high turnover brings tax forward.
Tax treatment depends on the security, your residential status and current law, so consult a qualified tax professional for your situation.
Start investing
How to Start Investing in PMS Through ALTPORT
Short answerYou can invest in a PMS through ALTPORT in three steps: a consultation to understand your goals, a shortlist of matched PMS strategies compared on returns, risk and fees, and paperless onboarding with the chosen provider. ALTPORT provides data-driven insights, unbiased PMS comparison and expert portfolio guidance throughout.
- 1
Schedule a consultation
A personal call with an ALTPORT adviser to understand your goals, horizon, risk appetite, liquidity needs, existing portfolio and preferred themes.
- 2
Get matched with suitable PMS strategies
Based on your profile, ALTPORT shortlists strategies and compares 1, 3 and 5-year returns, risk-adjusted metrics such as Sharpe ratio and drawdowns, fee structures, net-of-fee performance and fund manager track records.
- 3
Complete paperless onboarding
Digital documentation and KYC, account set-up with the PMS provider and portfolio activation, supported by a dedicated relationship manager.
Why investors choose ALTPORT
- 200+PMS strategies across categories
- UnbiasedPMS performance comparison data
- 20+ yearscombined wealth management experience
- ₹1,000 Cr+AUM, trusted by HNIs and family offices
PMS performance comparison · month on month
How the Top 10 PMS Rankings Changed Through 2026
Short answerThe top 10 PMS rankings in India shift every month: GLC Growth Fund, Stallion Asset Core Fund, Carnelian Shift Strategy and Buoyant Capital Opportunities appeared in all four earlier 2026 updates below, while 1-year returns swung by 20 or more percentage points between reports. Comparing months shows which strategies hold their place and which were helped by one strong period.
May 2026 update: returns as on 30 April 2026
Data: ALTPORT PMS Performance Report, May 2026. Returns as on 30 April 2026. Past performance does not guarantee future results. Minimum investment: ₹50 lakh under SEBI regulations.
| # | Strategy and provider | Category | AUM (₹ Cr) | 1Y | 3Y | 5Y | Since inc. | Best for |
|---|---|---|---|---|---|---|---|---|
| 1 | India Opportunities ProductAequitas Investment | Multi Cap | 4,457 | 39.95% | 41.99% | 41.75% | 33.09% | Long-term growth |
| 2 | Concentrated GrowthSahasrar Capital | Multi Cap | — | 34.39% | 40.09% | — | 26.70% | Aggressive investors |
| 3 | Aggressive Long Term CapitalDalal & Broacha | Multi Cap | — | 67.36% | 31.70% | 26.78% | 14.14% | High-conviction growth |
| 4 | India Recovery StrategyICICI Prudential PMS | Multi Cap | 45 | 31.48% | 32.04% | 35.79% | 30.63% | Cyclical opportunities |
| 5 | Infrastructure StrategyICICI Prudential PMS | Thematic | 66 | 25.96% | 32.73% | 29.83% | 16.12% | Infrastructure exposure |
| 6 | GLC Growth FundGreen Lantern Capital | Small & Mid Cap | 1,306 | 12.94% | 40.58% | 38.31% | 23.48% | Aggressive long-term growth |
| 7 | Core FundStallion Asset | Multi Cap | 6,361 | 12.32% | 37.58% | 25.06% | 27.14% | Diversified equity growth |
| 8 | Growth FundINVASSET | Multi Cap | — | 4.11% | 31.08% | 20.02% | 27.43% | Growth-oriented portfolios |
| 9 | Shift StrategyCarnelian Asset Mgmt | Mid & Small Cap | 4,667 | 9.67% | 26.20% | 24.61% | 31.06% | Mid- and small-cap exposure |
| 10 | Opportunities PMSBuoyant Capital | Flexi Cap | 8,402 | 13.59% | 21.49% | 23.38% | 20.93% | Flexible equity allocation |
April 2026 update: returns as on 31 March 2026
Data: ALTPORT PMS Performance Report, April 2026. Returns as on 31 March 2026. Past performance does not guarantee future results. Minimum investment: ₹50 lakh under SEBI regulations.
| # | Strategy and provider | Category | AUM (₹ Cr) | 1Y | 3Y | 5Y | Since inc. |
|---|---|---|---|---|---|---|---|
| 1 | GLC Growth FundGreen Lantern Capital | Small & Mid Cap | 1,274 | -1.37% | 37.34% | 37.51% | 21.46% |
| 2 | India Emerging Stars ApproachWhite Pine Investment | Small & Mid Cap | — | 2.28% | 30.24% | — | 27.75% |
| 3 | Shift StrategyCarnelian Asset Mgmt | Mid & Small Cap | 4,667 | -7.18% | 23.93% | 23.23% | 28.22% |
| 4 | Core FundStallion Asset | Multi Cap | 6,361 | -2.57% | 31.49% | 21.59% | 24.72% |
| 5 | Special Situations FundNegen Capital Services | Multi Cap | 1,222 | -2.07% | 24.29% | 21.38% | 15.02% |
| 6 | Opportunities PMSBuoyant Capital | Flexi Cap | 8,402 | 6.00% | 20.97% | 22.02% | 19.97% |
| 7 | India Next PortfolioRenaissance Investment | Flexi Cap | 899 | -9.61% | 13.17% | 19.24% | 12.22% |
| 8 | Contra StrategyICICI Prudential PMS | Multi Cap | 12,907 | 1.41% | 18.62% | 18.53% | 17.07% |
| 9 | All Cap ApproachAbakkus Asset Manager | Multi Cap | 7,553 | 7.25% | 16.51% | 16.80% | 21.67% |
| 10 | Active AlphaSamvitti Capital | Multi Cap | 234 | 1.89% | 17.44% | 14.25% | 14.52% |
March 2026 update: returns as on 28 February 2026
Data: ALTPORT PMS Performance Report, March 2026. Returns as on 28 February 2026. Past performance does not guarantee future results. Minimum investment: ₹50 lakh under SEBI regulations.
| # | Strategy and provider | Category | AUM (₹ Cr) | 1Y | 3Y | 5Y | Since inc. |
|---|---|---|---|---|---|---|---|
| 1 | India Opportunities ProductAequitas Investment | Multi Cap | 4,457 | 61.81% | 51.51% | 46.55% | 34.16% |
| 2 | Concentrated GrowthSahasrar Capital | Multi Cap | — | 41.17% | 36.42% | — | 24.34% |
| 3 | Aggressive Long Term CapitalDalal & Broacha | Multi Cap | — | 42.85% | 29.00% | 23.67% | 13.41% |
| 4 | India Recovery StrategyICICI Prudential PMS | Multi Cap | 45 | 37.99% | 33.00% | 36.64% | 30.72% |
| 5 | Infrastructure StrategyICICI Prudential PMS | Thematic | 66 | 35.66% | 34.89% | 30.80% | 16.13% |
| 6 | GLC Growth FundGreen Lantern Capital | Small & Mid Cap | 1,306 | 11.89% | 41.44% | 38.99% | 22.86% |
| 7 | Core FundStallion Asset | Multi Cap | 6,361 | 7.15% | 38.45% | 26.56% | 27.30% |
| 8 | Growth FundINVASSET | Multi Cap | — | 11.29% | 36.66% | 24.62% | 28.01% |
| 9 | Shift StrategyCarnelian Asset Mgmt | Mid & Small Cap | 4,667 | 13.20% | 27.59% | 27.24% | 31.45% |
| 10 | Opportunities PMSBuoyant Capital | Flexi Cap | 8,402 | 30.13% | 26.11% | 24.23% | 21.70% |
February 2026 update: returns as on 31 January 2026
Data: ALTPORT PMS Performance Report, February 2026. Returns as on 31 January 2026. Past performance does not guarantee future results. Minimum investment: ₹50 lakh under SEBI regulations.
| # | Strategy and provider | Category | AUM (₹ Cr) | 1Y | 3Y | 5Y | Since inc. |
|---|---|---|---|---|---|---|---|
| 1 | GLC Growth FundGreen Lantern Capital | Small & Mid Cap | 1,274 | 5.08% | 40.55% | 42.72% | 22.91% |
| 2 | DiversifiedWallfort PMS | Small & Mid Cap | 369 | -7.94% | 36.58% | 35.53% | 21.94% |
| 3 | Shift StrategyCarnelian Asset Mgmt | Mid & Small Cap | 4,667 | -3.49% | 27.36% | 28.89% | 31.67% |
| 4 | Core FundStallion Asset | Multi Cap | 6,361 | 7.15% | 38.45% | 26.56% | 27.30% |
| 5 | Special Situations FundNegen Capital Services | Multi Cap | 1,222 | 3.33% | 25.04% | 26.82% | 16.74% |
| 6 | Opportunities PMSBuoyant Capital | Flexi Cap | 8,402 | 18.22% | 23.81% | 26.70% | 21.58% |
| 7 | India Next PortfolioRenaissance Investment | Flexi Cap | 899 | 2.25% | 18.90% | 25.80% | 14.58% |
| 8 | Contra StrategyICICI Prudential PMS | Multi Cap | 12,907 | 12.95% | 20.86% | 22.82% | 19.02% |
| 9 | All Cap ApproachAbakkus Asset Manager | Multi Cap | 7,553 | 15.57% | 18.86% | 22.45% | 24.42% |
| 10 | Active AlphaSamvitti Capital | Multi Cap | 234 | 9.36% | 19.42% | 17.79% | 15.99% |
Strategy snapshot published with the March 2026 update
Strategy-level snapshot as published on this page with the March 2026 update, sorted by 5-year return. Very small AUM can make returns unrepresentative. Check the latest APMI data before relying on these figures.
| Strategy and provider | AUM (₹ Cr) | 1Y | 3Y | 5Y | Since inc. |
|---|---|---|---|---|---|
| Alpha PortfolioVaranium Capital Advisors Pvt Ltd | 10.05 | 7.69% | 123.69% | 70.63% | 23.48% |
| Varanium G2G India PortfolioVaranium Capital Advisors Pvt Ltd | 8.65 | -8.49% | 120.38% | 69.14% | 22.33% |
| ICICI Prudential PMS India Recovery StrategyICICI Prudential AMC Ltd | 9.04 | 18.75% | 24.85% | 33.02% | 29.89% |
| Electrum Customised PortfolioElectrum Portfolio Managers Pvt Ltd | 64.52 | -8.14% | 20.88% | 30.42% | 27.34% |
| Aequitas India Opportunities ProductAequitas Investment Consultancy Pvt Ltd | 2,318.72 | 30.09% | 28.54% | 29.55% | 31.84% |
| Emerging Sector Opportunity PortfolioNippon Life India AMC Ltd | NA | 4.18% | 1.38% | 29.54% | 10.94% |
| Diversified Long Term ValueCounter Cyclical Investments Pvt Ltd | 1,025.60 | 4.00% | 20.04% | 28.21% | 44.99% |
| ValueQuest VisionValuequest Investment Advisors Pvt Ltd | 1,070.43 | 6.16% | 26.96% | 26.19% | 28.97% |
| ICICI Prudential PMS Infrastructure StrategyICICI Prudential AMC Ltd | 71.42 | 15.63% | 24.90% | 25.42% | 15.90% |
| Diversified PortfolioWallfort Fund Management LLP | 607.62 | 8.26% | 34.27% | 25.41% | 23.89% |
Help & support
FAQs: Best PMS in India 2026
Answers to the questions investors ask most about PMS returns, rankings, fees, taxation and eligibility.
Which is the best PMS in India in 2026?
The best PMS in India in 2026 is the one that fits your risk appetite, horizon and strategy preference, because leaders change by time period. As on 30 September 2026, Stallion Asset Core Fund led on 3-year returns (33.41%), and Aequitas India Opportunities Product led on both 5-year (30.33%) and 10-year (26.43%) returns. Buoyant Capital Opportunities, Green Lantern Capital Growth Fund and ICICI Prudential Contra Strategy are also widely compared for long-term, mid and small-cap, and contrarian exposure respectively. Compare 5-year returns, benchmark outperformance, drawdowns, information ratio, Sharpe ratio and consistency across cycles before choosing, rather than relying on the latest return.
What are the top 10 PMS in India for 2026?
The top 10 PMS in India by 3-year annualised return as on 30 September 2026 are Stallion Asset Core Fund (33.41%), Wallfort Diversified Fund (31.79%), AlfAccurate AAA Couture (27.16%), JM Financial The Opportunistic (27.11%), InCred Focused Healthcare Portfolio (26.57%), White Pine India Emerging Stars (26.42%), Wallfort Ameya Fund (25.70%), Wallfort Avenue Fund (24.80%), Green Lantern Capital Growth Fund (24.68%) and Accuracap Dynamo (24.35%). Rankings by 1, 5 and 10-year returns are in the table at the top of this page.
Which is the top PMS in India in 2026?
The top PMS in India in 2026 depends on the horizon you measure. As on 30 September 2026, East Green Advisors' Quant Strategy led on 1-year returns (57.94%), Stallion Asset Core Fund on 3-year returns (33.41%), and Aequitas India Opportunities Product on 5-year (30.33%) and 10-year (26.43%) returns. The highest-ranked PMS is not automatically right for every investor, so also weigh consistency, drawdowns, strategy, fees and the fund manager's track record.
Which PMS gives the highest return in India?
East Green Advisors' Quant Strategy gave the highest 1-year return in the October 2026 report, 57.94% as on 30 September 2026, but it has no 3-year record yet. Over longer periods, Stallion Asset Core Fund led on 3-year returns (33.41%) and Aequitas India Opportunities Product on 5-year returns (30.33%). The highest return over one period rarely stays the highest, so compare several horizons.
What is the minimum investment for PMS in India?
The minimum investment for PMS in India is ₹50 lakh, set by SEBI for all registered portfolio managers. SEBI raised it from ₹25 lakh in 2020. Some premium or specialised strategies ask for ₹1 crore or more, and the ₹50 lakh can usually be funded with cash, eligible securities or a mix of both.
What is PMS investment?
PMS (Portfolio Management Services) investment is a SEBI-regulated service in which a professional portfolio manager invests your money in stocks and other securities held directly in your own demat account. It requires a minimum of ₹50 lakh, and the portfolio can be discretionary, non-discretionary or advisory depending on how much control you give the manager.
How are PMS returns taxed in India?
PMS returns in India are taxed as capital gains in your hands, because you directly own the securities and every sale by the manager is a taxable event. For listed equity, short-term gains (held up to 12 months) are generally taxed at 20%, and long-term gains (held over 12 months) at 12.5% on gains above ₹1.25 lakh a year. High portfolio turnover can therefore bring tax forward, so compare post-tax returns and consult a qualified tax professional for your situation.
Which are the best PMS funds in India for long-term investment?
The best PMS funds in India for long-term investment are those with consistent results across market cycles, not the highest one-year return. As on 30 September 2026, Aequitas India Opportunities Product (26.43%), Buoyant Capital Opportunities (19.97%) and Sameeksha Capital India Equity Fund (19.92%) led on 10-year annualised returns. Compare 3 and 5-year returns, benchmark-adjusted performance, drawdowns, portfolio concentration, fees and the manager's track record.
How do I choose the best PMS in India?
Choose the best PMS in India by matching the strategy to your objective, risk tolerance and time horizon first, then checking 3 and 5-year performance, consistency across cycles, maximum drawdowns, benchmark-adjusted returns, market-cap exposure, fees and fund manager experience. Also check your existing equity holdings for overlap and your liquidity needs. ALTPORT's team can help with a portfolio review on +91 9561610108.
Which PMS has delivered the best long-term returns in India?
Aequitas India Opportunities Product has delivered the highest long-term returns in ALTPORT's October 2026 data: 30.33% over 5 years and 26.43% over 10 years, annualised, as on 30 September 2026. Green Lantern Capital Growth Fund (29.14% over 5 years) and Buoyant Capital Opportunities (19.97% over 10 years) also stand out. No PMS stays permanently on top, so compare consistency, drawdowns and benchmark-adjusted performance as well.
How are the top PMS in India ranked?
The return tables on this page rank strategies purely by reported return for each horizon (1, 3, 5 and 10 years), using APMI data. ALTPORT's shortlisting then adds the 3I and SOUL frameworks, drawdowns, benchmark-adjusted performance, fees and fund manager track record, which separates consistent performers from strategies helped by one strong period.
Is the highest-returning PMS always the best PMS to invest in?
No, the highest-returning PMS is not always the best PMS to invest in, because high returns often come with higher volatility, concentration or deeper drawdowns. An aggressive small or mid-cap PMS can lead in a rising market and fall harder in a correction. The right PMS balances return potential, risk, consistency, fees and your objectives.
Which PMS is best in India for long-term wealth creation?
The best PMS in India for long-term wealth creation is one that matches your risk profile and has shown consistent performance over at least five years. Focus on 3 and 5-year returns, downside protection, benchmark-adjusted alpha, portfolio quality and the manager's philosophy. A diversified multi-cap PMS may suit balanced long-term growth, while investors with a higher risk appetite may consider mid and small-cap strategies.
What is the difference between PMS and mutual funds?
PMS manages an individual portfolio held in your own demat account, while a mutual fund pools money from many investors who own units of one scheme. They differ in minimum investment (₹50 lakh versus as little as ₹500), ownership, customisation, fees and taxation, so compare these alongside risk and objectives.
How often are PMS rankings updated?
ALTPORT updates the PMS rankings on this page monthly, as each new APMI data set is published. The current tables use the October 2026 report, with returns as on 30 September 2026, and earlier months are kept in the archive so you can see how positions shift over time. Always check the latest data before investing.
Can I lose money by investing in PMS?
Yes, you can lose money in a PMS, because it is exposed to equity-market falls, company-specific risk, portfolio concentration and liquidity risk. Several strategies in this report had negative 1-month or 3-month returns as on 30 September 2026. Historical returns do not guarantee future performance, so review the strategy, its drawdowns, fees and risk disclosures first.
Can NRIs invest in PMS in India?
Yes, NRIs can invest in PMS in India through an NRE account (repatriable) or an NRO account (non-repatriable), along with a demat account and KYC, subject to FEMA rules. Some portfolio managers do not accept residents of the US or Canada because of FATCA reporting, and tax on gains may be deducted at source. ALTPORT supports investors in the UAE, UK, USA, Singapore and Australia.
Which portfolio management services have the lowest fees in India?
Portfolio management services with the lowest fees in India are those with low fixed charges, reasonable hurdle rates and no exit load. Among the strategies ALTPORT compares, Buoyant Capital Opportunities lists a 0% exit load, Wallfort Diversified lists a 2% management fee, and GLC Growth Fund and Stallion Asset Core Fund offer 1.5% fixed plus a profit share above a 10% hurdle. The cheapest model also depends on returns: in ALTPORT's illustration, performance-only fees cost least at 8 to 15% a year but not at 25%.
What are the ICICI Prudential PMS returns over the last 5 years?
ICICI Prudential PMS returns over 5 years vary by strategy. In ALTPORT's May 2026 report (returns as on 30 April 2026), India Recovery Strategy showed 35.79% and Infrastructure Strategy 29.83% annualised over 5 years; in the February 2026 report, Contra Strategy showed 22.82%. Neither strategy appears in the 5-year top 10 as on 30 September 2026, so check the latest factsheet before investing.
Which 10 best PMS companies in India have the highest assets under management (AUM)?
The PMS strategies with the highest AUM in ALTPORT's comparison are ICICI Prudential Contra Strategy (about ₹12,907 crore), Buoyant Capital Opportunities (₹8,402 crore), Abakkus All Cap (₹7,553 crore) and Stallion Asset Core Fund (₹6,361 crore), as on 31 January 2026. These are strategy-level figures, not total provider assets. Use the latest SEBI and APMI disclosures to verify current AUM rankings.
Which PMS has delivered consistent returns over the last 10 years in India?
Aequitas India Opportunities Product has delivered the highest 10-year return in ALTPORT's data, 26.43% annualised as on 30 September 2026, followed by Buoyant Capital Opportunities (19.97%), Sameeksha Capital India Equity Fund (19.92%), Solidarity Prudence (18.15%) and Valentis Rising Star Opportunity (18.10%). Judge consistency with rolling returns, benchmark outperformance and drawdowns, not the 10-year figure alone.
Which are the best debt PMS strategies in India for investors seeking regular income?
The best debt PMS in India should be chosen on credit quality, portfolio duration, liquidity, fees and income needs. Debt portfolio management services invest mainly in fixed-income securities, unlike equity PMS such as Abakkus All Cap or Stallion Asset Core Fund. For income-oriented alternatives, ALTPORT also lists products such as A K Capital Fixed Income, Neo Income Plus Fund and ICICI Prudential Credit Opportunities Fund, which may belong to other regulated categories, so compare structure, credit exposure and liquidity before investing.
Who are the top portfolio managers in India, and how should investors evaluate them?
Top portfolio managers in India include Saurabh Mukherjea, Sunil Singhania, Kenneth Andrade, Amit Jeswani and Basant Maheshwari, each with a distinct equity approach. Evaluate any manager on experience across market cycles, portfolio concentration, historical returns, downside protection and consistency. A strong manager shows a repeatable process rather than one period of exceptional returns.
Which are the best equity PMS strategies in India for long-term capital growth?
Notable equity PMS strategies for long-term capital growth include Green Lantern Capital Growth Fund, Stallion Asset Core Fund, Aequitas India Opportunities, Abakkus All Cap and Buoyant Capital Opportunities. Green Lantern emphasises mid-cap growth, Stallion and Abakkus spread exposure across market caps, ICICI Prudential Large Cap suits investors who prefer established businesses, and Carnelian Shift Strategy targets emerging opportunities. The right one depends on your risk tolerance, horizon and market-cap preference.
How do PMS returns compare with mutual fund returns over 3 to 5 years?
PMS returns can be higher or lower than mutual fund returns over 3 to 5 years, so compare annualised returns, volatility, benchmarks, fees and concentration over identical dates. As on 30 September 2026, the tenth-ranked PMS in the 5-year table returned 22.05% annualised; compare such figures with the relevant multi-cap, flexi-cap or mid-cap fund over the same period. Higher past PMS returns do not guarantee better risk-adjusted or future performance.
How can investors compare fixed fees and performance-based fees across PMS providers in India?
Compare PMS fees by listing the fixed annual charge, profit-share percentage, hurdle rate and exit load, then estimating net returns. GLC Growth Fund lists a 2.5% fixed option or 1.5% plus 12% above a 10% hurdle; Stallion Asset Core Fund lists 2.5% fixed or 1.5% plus 15% above a 10% hurdle; Wallfort Diversified lists a 2% management fee. Fees attract 18% GST, and SEBI caps exit loads at 3%, 2% and 1% in years one, two and three.
Which are the best PMS service providers in Mumbai for high-net-worth investors?
High-net-worth investors in Mumbai commonly compare Motilal Oswal, ICICI Prudential, ASK Investment Managers and Abakkus Asset Manager, along with strategies such as ICICI Prudential India Recovery, Contra Strategy, Abakkus All Cap and Buoyant Capital Opportunities. Location matters less than fit, so evaluate 5-year returns, market-cap allocation, fees and fund manager experience. ALTPORT, based in Ghatkopar, Mumbai, helps HNIs compare options against their goals.