V01
Value & quality
Clean balance sheets, ROE and ROCE above 15%, transparent governance
Portfolio Management Services
A portfolio held in your own name — not pooled with anyone else's.
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.
Comparison
Mutual fund or PMS?
* Neither product assures returns. Cost and liquidity favour mutual funds; ownership, transparency and concentration favour PMS. Which matters more depends entirely on your situation. |
Is a PMS actually right for you?
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.
+
A PMS may fit if
−
Stay with mutual funds if
+
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.
Three kinds of PMS
They differ in one thing: who presses the button.
FEE BREAKDOWN
What the fee structure actually costs you
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 assumptions
₹
01Amount invested
₹1.00 Cr02Assumed gross return for the year
15.00%03Option A — flat fee
2.50%04Option B — lower flat fee
1.50%05Option B — share of gains above hurdle
15.00%06Option B — hurdle rate
10.00%Fee payable for the year
Annual fee comparison
₹
Option A — flat fee only
2.50% of ₹1.00 Cr
Option B — lower flat + performance share
1.50% flat (₹1,50,000) + 15.00% of gains above 10.00% (₹75,000)
What you keep after fees
On an assumed 15.00% gross return, using the option b
✓Better value this year
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.
The strategy we distribute
We are a distributor. We do not manage money, and we are not the portfolio manager of the strategy below.
Discretionary PMSMulti-capBenchmark: BSE 500 TRILaunched March 2026
How the manager picks stocks
InvestValue calls its framework Vector. Six filters, applied in sequence, described here as the manager describes them
E02
Earnings momentum
Consistent growth, margin trends, visible demand
C03
Chart structure
Healthy price trend, volume confirmation, position against moving averages
T04
Trend strength
Relative strength, institutional flows, volatility assessment
O05
Position sizing
Risk-aligned, conviction-based, liquidity-aware
R06
Review & rebalance
Quarterly committee reviews, defined exits, documented process
Frequently Asked Questions
Partners usually ask