In a PMS, a SEBI-registered portfolio manager runs a concentrated strategy through a demat account that belongs to you. You see every stock, every trade, every rupee of cost. Nothing is averaged across thousands of other investors.
Worth saying up front: for most investors, most of the time, a good mutual fund does this job better and cheaper. PMS is a different tool, not a superior one. If it does not suit your situation, we will tell you so and point you to the funds that do.
Shares are registered in your name. You are the legal owner of each holding, not a unit-holder in a fund.
You see what was bought, when, at what price and why — not a monthly snapshot after the fact.
Typically 15–30 businesses. Conviction shows up in the returns, in both directions.
A named investment team you can put questions to, through us or directly.
The honest comparison, including the places a mutual fund wins. Both are legitimate; they solve different problems.
Mutual fund | PMS | |
|---|---|---|
Minimum investment | ₹500 by SIP | ₹50 lakh |
Who owns the securities | The fund does. You own units of it. | You do, in a demat account in your name. |
Portfolio visibility | Full holdings disclosed monthly, after the fact | Every holding and every transaction, continuously |
Number of holdings | Often 40–70, sometimes more | Typically 15–30 |
Customisation | None. One portfolio for every investor. | Possible within the stated approach — you can ask to exclude a stock or sector. |
Cost | Lower. A single expense ratio, often well under 2%, and index funds far below that. | Higher. Fixed fee, or a lower fixed fee plus a performance share above a hurdle |
Liquidity | Better. Usually redeemable in one or two working days. | Exit permitted, but an exit load typically applies in the first two years. |
How you are taxed | Only when you redeem units | On your own realised gains each time the manager sells — so churn creates tax events for you |
* Neither product assures returns. Cost and liquidity favour mutual funds; ownership, transparency and concentration favour PMS. Which matters more depends entirely on your situation. | ||
Read both columns. If the right-hand one describes you better, we would rather you stayed in mutual funds — and we will still help you do that well.
You already hold a solid mutual fund core and want a concentrated satellite alongside it, not instead of it.
This would be your first or largest equity allocation.
₹50 lakh is a portion of your investible surplus, not most of it.
The money may be needed for a house, education or a business within three years.
You can leave it untouched for three to five years and genuinely will.
You want to invest monthly rather than commit a lump sum.
A 25% drawdown would annoy you but not change any decision you make.
Cost is your main lever an index fund will beat a PMS on fees every single time.
You want to see the actual holdings and understand the reasoning behind them.
You would find yourself checking the portfolio daily and second guessing the manager.
You have a CA who handles your capital gains, since a PMS generates them as the manager trades.
You would rather not deal with capital gains paperwork each year.
They differ in one thing: who presses the button.
You give the mandate; the manager buys and sells within the stated strategy without asking each time. Nearly every PMS offered in India is of this kind.
Investors who want a professional to act without waiting on them
The manager recommends; you approve each transaction before it happens. Slower, and you carry the timing risk of your own delays.
Investors who want the final call to stay with them
The manager advises; execution and custody remain entirely yours. Your securities never leave your control at any point.
Investors who already have execution sorted and want research
Most PMS offerings give you a choice: a flat fee, or a lower flat fee plus a share of the gains above a hurdle. Which is cheaper depends entirely on how the year goes — so here is the arithmetic, before you commit.
Illustrative inputs
Fee payable for the year
2.50% of ₹1.00 Cr
1.50% flat (₹1,50,000) + 15.00% of gains above 10.00% (₹75,000)
On an assumed 15.00% gross return, using the option b
Option B costs ₹25,000 less this year. The two structures cost the same at a gross return of 16.7%. Below that the hybrid fee is cheaper; above it, the flat fee is.
An illustration of fee mechanics only. It is not a projection of returns, does not model quarterly or high-water-mark calculations, and excludes brokerage, custody and statutory charges, exit load and taxes. Actual fees are governed by the fee schedule in your PMS agreement, which prevails. Performance fee terms vary materially between managers — check whether the hurdle is a soft or hard hurdle and how the high-water mark is defined.
We are a distributor. We do not manage money, and we are not the portfolio manager of the strategy below.
InvestValue Capital Pvt. Ltd. · SEBI Reg. INP000009773
A concentrated multi-cap strategy holding 15–30 businesses across large, mid and small caps. The manager screens the BSE 500 universe on earnings growth, return on capital, balance sheet quality and price trend, then sizes positions by conviction — capped at 20% for any single stock, sector or group company. Risk is defined as permanent loss of capital rather than short-term price movement, with quarterly investment committee reviews and pre-defined exit triggers.
The strategy went live in March 2026 and has a short track record — we will show you exactly how short, alongside the numbers.
InvestValue calls its framework Vector. Six filters, applied in sequence, described here as the manager describes them
Clean balance sheets, ROE and ROCE above 15%, transparent governance
Consistent growth, margin trends, visible demand
Healthy price trend, volume confirmation, position against moving averages
Relative strength, institutional flows, volatility assessment
Risk-aligned, conviction-based, liquidity-aware
Quarterly committee reviews, defined exits, documented process
Market capitalisation and liquidity filters
Revenue CAGR above 10%, PAT CAGR above 12%, positive earnings momentum
ROE and ROCE above 15%, low debt to equity, positive operating cash flow, clean governance record
Price above key moving averages, relative strength against the BSE 500, controlled volatility, adequate liquidity
The private layer — served to an investor who has confirmed eligibility and asked for it.
InvestValue Capital Pvt. Ltd. · SEBI Reg. INP000009773 · Benchmark BSE 500 TRI)
The strategy has been live for approximately three months. Returns for this period are absolute, not annualised, and cannot be projected forward.Returns are calculated using Time Weighted Rate of Return at aggregate strategy level and are not verified or certified by SEBI. An individual client's returns will differ from the strategy aggregate depending on entry date, additional investments, withdrawals, expenses and dividend income. Past performance may or may not be sustained in future. Standardised peer comparison is published by the Association of Portfolio Managers in India at apmiindia.org. Read the Disclosure Document before investing
The factsheet carries a Sharpe of 2.97, Sortino of 4.71, Information Ratio of 3.09 and alpha of 12%. Those are computed from roughly 63 trading days and annualised on a 252-day basis — InvestValue's own note says the figures are indicative only and may not be sustained. A Sharpe near 3.00 from three months carries no statistical information; over a full cycle almost no equity strategy sustains it. They are off both layers here deliberately. The gated table gives the live period, the absolute return, the benchmark over the same window and the holdings — what a serious investor actually needs. Let InvestValue's own factsheet carry the ratios when the manager sends it directly, so it is their representation rather than ours. Worth asking them to reissue once four full quarters exist.
Two to four weeks from first conversation to a funded account.
Your existing portfolio, your horizon, and whether a PMS adds anything to what you already hold.
The Disclosure Document, fee schedule and current factsheet, sent by the manager.
Read the Disclosure Document. We recommend your CA reviews the tax position before you sign.
PMS agreement, KYC, and a demat and bank account opened in your own name with a limited power of attorney.
Capital transferred, portfolio built over the following weeks, then periodic statements and full transaction visibility.
You should not have to take our word for any of it. Here is where to check independently.
Every portfolio manager's SEBI registration number can be checked on the SEBI website's list of registered intermediaries. Ours isINP000009773for InvestValue Capital. If a registration number cannot be verified, walk away.
The Association of Portfolio Managers in India publishes standardised, comparable performance for registered portfolio managers at apmiindia.org. Use it rather than any factsheet, including ours.
We hold NISM Series-XXI-A (PMS Distributors) certification and are registered with APMI under APRNAPRN-XXXXX, which SEBI has required of all PMS distributors since 1 January 2025.
Capital loss. Returns are neither assured nor guaranteed. Equity portfolios fall, sometimes a long way.
Concentration. With 15–30 holdings and a 20% single-stock limit, one bad position moves the whole portfolio.
Short track records. A newly launched strategy may show striking early numbers. Three months cannot separate skill from market conditions.
Small strategy size. A strategy running a modest corpus can behave differently as it grows, and its cost base is spread across fewer investors.
Your returns will differ. Entry date, additional investments, withdrawals and expenses mean your outcome will not match the strategy's aggregate figures.
Performance fees. Depending on how the hurdle and high-water mark are defined, a fee can be payable on gains in a good year even if a later year gives them back.
Exit load. Leaving in the first two years costs you. Treat the money as committed for at least that long.
Tax friction. The manager's trading creates realised gains in your hands each year, whether or not you take money out.
Key person risk. Performance depends on a small investment team. Its departure changes the proposition.
Partners usually ask
It's a zero-investment program that lets you refer clients to buy or sell unlisted and pre-IPO shares through our platform, and earn commission on every closed deal.
No. Signing up, verification and access to the partner dashboard are completely free — there's no upfront cost at any stage.
Commission is calculated on completed deals and paid out fortnightly directly to your registered bank account.
No prior experience is required. Our research reports and RM support are designed to help you guide clients confidently from day one.
Anyone with a network of potential investors — financial advisors, brokers, or individuals looking to build a second income stream — can apply.
Tell us where you are. We will look at what you already hold and say honestly whether a PMS adds anything — and if it does not, which mutual funds would serve you better.
We Grow Wealth Pvt. Ltd. acts as a distributor of Portfolio Management Services. We are not a portfolio manager, we do not manage portfolios, and we do not hold client funds or securities at any stage.
We are not a SEBI-registered Investment Adviser and do not provide investment advice or financial planning for a fee. Nothing on this page is a recommendation to invest in any strategy.
PMS distribution is carried out by personnel holding NISM Series-XXI-A: PMS Distributors Certification, registered with the Association of Portfolio Managers in India under APRN APRN-XXXXX.
The Disclosure Document and PMS agreement for any strategy are provided by the portfolio manager and are also available on the manager's website. Read them before investing.
Registered office: Majestic Signia Tower, Office No. 3, 8th Floor, A-27A, Sector 62, Noida, Uttar Pradesh.
Mutual fund distribution services referred to elsewhere on this website are provided by SMG Financial Services, a partnership firm holding AMFI Registration Number ARN-338796 and associated with We Grow Wealth Pvt. Ltd.