{"id":85096,"date":"2026-05-11T15:52:34","date_gmt":"2026-05-11T10:22:34","guid":{"rendered":"https:\/\/univest.in\/blogs-2\/?p=85096"},"modified":"2026-05-11T15:52:35","modified_gmt":"2026-05-11T10:22:35","slug":"what-is-pms-portfolio-management-services-a-complete-guide","status":"publish","type":"post","link":"https:\/\/univest.in\/blogs-2\/what-is-pms-portfolio-management-services-a-complete-guide\/","title":{"rendered":"What Is PMS Portfolio Management Services A Complete Guide for Indian Investors 2026"},"content":{"rendered":"<p>Portfolio Management Services, commonly called PMS, is a SEBI regulated investment vehicle where a licensed portfolio manager constructs and manages a personalised stock portfolio on behalf of a high net worth investor. Under SEBI rules, the minimum investment in any Portfolio Management Services account in India is Rs 50 lakh. The investor owns each stock directly in their own Demat account, unlike a mutual fund where they own units of a pooled scheme. Portfolio Management Services is widely chosen by HNIs and family offices in Delhi, Mumbai, Bengaluru and Hyderabad who want a concentrated, actively managed equity portfolio.<\/p><p>At Univest, my role as a Senior Research Analyst involves explaining Portfolio Management Services in plain terms to retail investors who often confuse PMS with mutual funds, smallcases and AIFs. The framework I use looks at four dimensions: SEBI regulatory category, minimum ticket size, fee structure and tax treatment. This article walks through Portfolio Management Services using that framework so Indian investors can decide whether PMS suits them or whether a SEBI registered advisory platform like Univest is a better fit at smaller capital sizes.<\/p><p><a href=\"https:\/\/univest.in\/user\/log-in\">Track live Sensex, Nifty and sector data with analyst insights on Univest.<\/a><\/p><div id=\"ez-toc-container\" class=\"ez-toc-v2_0_65 counter-hierarchy ez-toc-counter ez-toc-grey ez-toc-container-direction\">\n<div class=\"ez-toc-title-container\">\n<p class=\"ez-toc-title \" >Table of Contents<\/p>\n<span class=\"ez-toc-title-toggle\"><a href=\"#\" class=\"ez-toc-pull-right ez-toc-btn ez-toc-btn-xs ez-toc-btn-default ez-toc-toggle\" aria-label=\"Toggle Table of Content\"><span class=\"ez-toc-js-icon-con\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #999;color:#999\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #999;color:#999\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/span><\/a><\/span><\/div>\n<nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/univest.in\/blogs-2\/what-is-pms-portfolio-management-services-a-complete-guide\/#What_Are_Portfolio_Management_Services_in_Simple_Terms\" title=\"What Are Portfolio Management Services in Simple Terms\">What Are Portfolio Management Services in Simple Terms<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/univest.in\/blogs-2\/what-is-pms-portfolio-management-services-a-complete-guide\/#Types_of_Portfolio_Management_Services_in_India\" title=\"Types of Portfolio Management Services in India\">Types of Portfolio Management Services in India<\/a><ul class='ez-toc-list-level-3' ><li class='ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"https:\/\/univest.in\/blogs-2\/what-is-pms-portfolio-management-services-a-complete-guide\/#Discretionary_Portfolio_Management_Services\" title=\"Discretionary Portfolio Management Services\">Discretionary Portfolio Management Services<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-4\" href=\"https:\/\/univest.in\/blogs-2\/what-is-pms-portfolio-management-services-a-complete-guide\/#Non_Discretionary_Portfolio_Management_Services\" title=\"Non Discretionary Portfolio Management Services\">Non Discretionary Portfolio Management Services<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-5\" href=\"https:\/\/univest.in\/blogs-2\/what-is-pms-portfolio-management-services-a-complete-guide\/#Advisory_Portfolio_Management_Services\" title=\"Advisory Portfolio Management Services\">Advisory Portfolio Management Services<\/a><\/li><\/ul><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-6\" href=\"https:\/\/univest.in\/blogs-2\/what-is-pms-portfolio-management-services-a-complete-guide\/#Minimum_Investment_and_Eligibility_for_Portfolio_Management_Services\" title=\"Minimum Investment and Eligibility for Portfolio Management Services\">Minimum Investment and Eligibility for Portfolio Management Services<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-7\" href=\"https:\/\/univest.in\/blogs-2\/what-is-pms-portfolio-management-services-a-complete-guide\/#Fee_Structure_and_Taxation_in_Portfolio_Management_Services\" title=\"Fee Structure and Taxation in Portfolio Management Services\">Fee Structure and Taxation in Portfolio Management Services<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-8\" href=\"https:\/\/univest.in\/blogs-2\/what-is-pms-portfolio-management-services-a-complete-guide\/#Risks_and_Limitations_of_Portfolio_Management_Services\" title=\"Risks and Limitations of Portfolio Management Services\">Risks and Limitations of Portfolio Management Services<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-9\" href=\"https:\/\/univest.in\/blogs-2\/what-is-pms-portfolio-management-services-a-complete-guide\/#Conclusion\" title=\"Conclusion\">Conclusion<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-10\" href=\"https:\/\/univest.in\/blogs-2\/what-is-pms-portfolio-management-services-a-complete-guide\/#FAQs\" title=\"FAQs\">FAQs<\/a><ul class='ez-toc-list-level-3' ><li class='ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-11\" href=\"https:\/\/univest.in\/blogs-2\/what-is-pms-portfolio-management-services-a-complete-guide\/#What_are_Portfolio_Management_Services_in_India\" title=\"What are Portfolio Management Services in India?\">What are Portfolio Management Services in India?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-12\" href=\"https:\/\/univest.in\/blogs-2\/what-is-pms-portfolio-management-services-a-complete-guide\/#What_is_the_minimum_investment_for_Portfolio_Management_Services_in_2026\" title=\"What is the minimum investment for Portfolio Management Services in 2026?\">What is the minimum investment for Portfolio Management Services in 2026?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-13\" href=\"https:\/\/univest.in\/blogs-2\/what-is-pms-portfolio-management-services-a-complete-guide\/#How_is_Portfolio_Management_Services_different_from_a_mutual_fund\" title=\"How is Portfolio Management Services different from a mutual fund?\">How is Portfolio Management Services different from a mutual fund?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-14\" href=\"https:\/\/univest.in\/blogs-2\/what-is-pms-portfolio-management-services-a-complete-guide\/#What_are_the_three_types_of_Portfolio_Management_Services\" title=\"What are the three types of Portfolio Management Services?\">What are the three types of Portfolio Management Services?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-15\" href=\"https:\/\/univest.in\/blogs-2\/what-is-pms-portfolio-management-services-a-complete-guide\/#How_are_Portfolio_Management_Services_taxed_in_India\" title=\"How are Portfolio Management Services taxed in India?\">How are Portfolio Management Services taxed in India?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-16\" href=\"https:\/\/univest.in\/blogs-2\/what-is-pms-portfolio-management-services-a-complete-guide\/#What_fees_do_Portfolio_Management_Services_charge\" title=\"What fees do Portfolio Management Services charge?\">What fees do Portfolio Management Services charge?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-17\" href=\"https:\/\/univest.in\/blogs-2\/what-is-pms-portfolio-management-services-a-complete-guide\/#Can_NRIs_invest_in_Portfolio_Management_Services_in_India\" title=\"Can NRIs invest in Portfolio Management Services in India?\">Can NRIs invest in Portfolio Management Services in India?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-18\" href=\"https:\/\/univest.in\/blogs-2\/what-is-pms-portfolio-management-services-a-complete-guide\/#What_is_the_alternative_to_Portfolio_Management_Services_for_retail_investors\" title=\"What is the alternative to Portfolio Management Services for retail investors?\">What is the alternative to Portfolio Management Services for retail investors?<\/a><\/li><\/ul><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-19\" href=\"https:\/\/univest.in\/blogs-2\/what-is-pms-portfolio-management-services-a-complete-guide\/#Recent_Article\" title=\"Recent Article\">Recent Article<\/a><\/li><\/ul><\/nav><\/div>\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"What_Are_Portfolio_Management_Services_in_Simple_Terms\"><\/span><strong>What Are Portfolio Management Services in Simple Terms<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2><p>Portfolio Management Services is an investment product where a SEBI licensed portfolio manager manages a customised basket of stocks, bonds and other securities for an individual investor. The portfolio manager makes the buy, sell and hold decisions on behalf of the client, and the client owns each security directly in their own Demat account. Reporting is sent regularly with full holdings, trade history and performance.<\/p><p>Portfolio Management Services is regulated under the SEBI Portfolio Managers Regulations 2020. Only SEBI licensed Portfolio Managers can offer PMS in India. The current SEBI mandated minimum investment for a Portfolio Management Services account is Rs 50 lakh, which is one of the highest thresholds across regulated investment products in the country.<\/p><h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Types_of_Portfolio_Management_Services_in_India\"><\/span><strong>Types of Portfolio Management Services in India<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2><p>SEBI permits three structural types of Portfolio Management Services, and the right choice depends on how much control the investor wants over each decision.<\/p><h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Discretionary_Portfolio_Management_Services\"><\/span><strong>Discretionary Portfolio Management Services<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3><p>In a discretionary Portfolio Management Services arrangement, the portfolio manager has full authority to buy and sell securities without seeking explicit client approval for every trade. This is the most common type of PMS in India because it allows the portfolio manager to act on conviction quickly. The client receives transaction reports and quarterly performance updates and signs a Power of Attorney for execution.<\/p><h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Non_Discretionary_Portfolio_Management_Services\"><\/span><strong>Non Discretionary Portfolio Management Services<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3><p>Under non discretionary Portfolio Management Services, the portfolio manager recommends trades but the final execution decision rests with the client. Every buy or sell order is placed only after client consent. This structure suits investors who want professional research but wish to retain final say on every decision.<\/p><h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Advisory_Portfolio_Management_Services\"><\/span><strong>Advisory Portfolio Management Services<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3><p>Advisory Portfolio Management Services is the lightest form. The portfolio manager only advises on portfolio construction and stock selection. The client executes all trades on their own broking account. This is closest in spirit to a research advisory service, although the SEBI license remains a PMS license.<\/p><h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Minimum_Investment_and_Eligibility_for_Portfolio_Management_Services\"><\/span><strong>Minimum Investment and Eligibility for Portfolio Management Services<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2><p>SEBI mandates a minimum investment of Rs 50 lakh for any Portfolio Management Services account in India. This threshold is set to restrict PMS to high net worth individuals and family offices who can absorb concentrated equity risk. The minimum applies to the initial investment and applies separately for each PMS strategy chosen.<\/p><p>Eligibility criteria for Portfolio Management Services typically include an active PAN card, KYC verified Demat account, and a written agreement with the SEBI registered portfolio manager. NRIs can also invest in Portfolio Management Services through NRE or NRO accounts subject to FEMA rules. The Rs 50 lakh floor effectively excludes most retail investors from accessing PMS, which is why many turn to SEBI registered research platforms like Univest for institutional grade ideas at far smaller capital sizes.<\/p><figure class=\"wp-block-table\"><table class=\"has-fixed-layout\"><thead><tr><td><strong>Parameter<\/strong><\/td><td><strong>Portfolio Management Services<\/strong><\/td><td><strong>Mutual Fund<\/strong><\/td><td><strong>Smallcase<\/strong><\/td><\/tr><\/thead><tbody><tr><td>Minimum Investment<\/td><td>Rs 50 lakh<\/td><td>Rs 100 to Rs 500<\/td><td>Rs 10000 typically<\/td><\/tr><tr><td>Ownership<\/td><td>Direct ownership of stocks<\/td><td>Units of pooled scheme<\/td><td>Direct ownership of stocks<\/td><\/tr><tr><td>Customisation<\/td><td>Highly customised<\/td><td>Standardised<\/td><td>Theme based, fixed basket<\/td><\/tr><tr><td>Regulator<\/td><td>SEBI Portfolio Manager<\/td><td>SEBI Mutual Fund AMC<\/td><td>SEBI Research Analyst<\/td><\/tr><tr><td>Fee Structure<\/td><td>Fixed plus performance fee<\/td><td>Expense ratio only<\/td><td>Subscription plus brokerage<\/td><\/tr><tr><td>Target Investor<\/td><td>HNI and family office<\/td><td>Retail to HNI<\/td><td>Retail with theme bias<\/td><\/tr><\/tbody><\/table><\/figure><p><a href=\"https:\/\/univest.in\/screeners\">Screen the best Portfolio Management Services style stocks on the Univest Screener.<\/a><\/p><h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Fee_Structure_and_Taxation_in_Portfolio_Management_Services\"><\/span><strong>Fee Structure and Taxation in Portfolio Management Services<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2><p>Fees in Portfolio Management Services typically have two components. A fixed management fee usually ranges from 1 percent to 2.5 percent of assets under management per year. A performance fee is charged only above a pre agreed hurdle rate, often around 8 percent to 10 percent, and is typically 20 percent of returns above that hurdle, sometimes with a high water mark to prevent double charging.<\/p><p>Taxation of Portfolio Management Services is identical to direct equity investing since the investor owns each stock. Short term capital gains, where shares are sold within 12 months, are taxed at 20 percent under the latest Finance Act. Long term capital gains above Rs 1.25 lakh per year on equity are taxed at 12.5 percent. Dividends are taxable in the investor&#8217;s hands at the applicable income tax slab. This pass through tax structure can be more efficient than mutual funds for HNI investors in higher tax brackets.<\/p><p>Download the <a href=\"http:\/\/apps.apple.com\/in\/app\/univest-stocks-investment\/id6443753518\" rel=\"nofollow noopener\" target=\"_blank\">Univest iOS App<\/a> or the <a href=\"http:\/\/play.google.com\/store\/apps\/details?id=com.univest.capp&amp;hl=en_IN\" rel=\"nofollow noopener\" target=\"_blank\">Univest Android App<\/a> to get daily stock recommendations and expert research.<\/p><h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Risks_and_Limitations_of_Portfolio_Management_Services\"><\/span><strong>Risks and Limitations of Portfolio Management Services<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2><p>Portfolio Management Services carries the standard set of equity market risks plus a few unique to the product. Concentration risk is the most obvious. Most PMS portfolios hold 15 to 30 stocks, which means a single bad sector call can hurt returns meaningfully. Liquidity risk applies because redemption can take several working days, especially if positions are large in mid cap or small cap names.<\/p><p>Fee drag is another risk. The combined fixed and performance fees in Portfolio Management Services can run 2 percent to 4 percent of assets per year, which compounds against returns over long horizons. For investors who cannot meet the Rs 50 lakh minimum or who prefer transparent fixed pricing, a SEBI registered research advisory like Univest, with Pro plans from Rs 6 per day, offers an alternative path to institutional grade ideas at lower capital and predictable cost.<\/p><h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Conclusion\"><\/span><strong>Conclusion<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2><p>Portfolio Management Services is a powerful tool for high net worth Indian investors who can commit Rs 50 lakh or more and want a customised, actively managed equity portfolio under SEBI regulation. The right PMS can deliver concentrated alpha and direct ownership of every stock, with tax efficiency comparable to direct equity. For investors below the Rs 50 lakh threshold, regulated advisory platforms such as Univest provide an accessible alternative with SEBI registered research, integrated broking and full trade parameters on every call. The choice between Portfolio Management Services and advisory led investing depends on capital size, customisation needs and cost sensitivity.<\/p><p>Disclaimer: The information provided in this article is for educational and informational purposes only and does not constitute investment advice. Univest is a SEBI registered research analyst entity (Uniresearch Global Pvt Ltd, SEBI Registration Number INH000013776). Views expressed are for general informational purposes only and should not be construed as a recommendation to buy, sell or hold any security. Investments in securities are subject to market risks. Please read all related documents before investing. Past performance is not indicative of future results. Please consult a SEBI registered financial advisor before making any investment decision.<\/p><h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"FAQs\"><\/span><strong>FAQs<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2><h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"What_are_Portfolio_Management_Services_in_India\"><\/span><strong>What are Portfolio Management Services in India?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3><p><strong>Ans. <\/strong>Portfolio Management Services in India is a SEBI regulated investment product where a licensed portfolio manager manages a personalised stock portfolio for a high net worth individual. The investor owns each stock directly in their own Demat account. SEBI sets a minimum investment of Rs 50 lakh for any PMS account. Portfolio Management Services is offered in discretionary, non discretionary and advisory formats under the SEBI Portfolio Managers Regulations 2020.<\/p><h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"What_is_the_minimum_investment_for_Portfolio_Management_Services_in_2026\"><\/span><strong>What is the minimum investment for Portfolio Management Services in 2026?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3><p><strong>Ans. <\/strong>The minimum investment for Portfolio Management Services in India is Rs 50 lakh as mandated by SEBI. This threshold applies separately for every PMS strategy. The Rs 50 lakh minimum is set to restrict PMS to high net worth investors who can absorb the concentrated risk of an actively managed equity portfolio. Investors below this threshold can consider mutual funds, smallcases or SEBI registered advisory platforms such as Univest.<\/p><h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"How_is_Portfolio_Management_Services_different_from_a_mutual_fund\"><\/span><strong>How is Portfolio Management Services different from a mutual fund?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3><p><strong>Ans. <\/strong>Portfolio Management Services gives the investor direct ownership of each stock in their own Demat account, while a mutual fund pools investor capital and the investor owns units of the scheme. PMS allows full customisation and a concentrated 15 to 30 stock portfolio. Mutual funds are standardised and diversified across 40 to 80 stocks. PMS has a Rs 50 lakh minimum, while mutual funds start as low as Rs 100. Fees and tax treatment also differ materially.<\/p><h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"What_are_the_three_types_of_Portfolio_Management_Services\"><\/span><strong>What are the three types of Portfolio Management Services?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3><p><strong>Ans. <\/strong>The three types of Portfolio Management Services are discretionary, non discretionary and advisory PMS. Discretionary PMS gives the portfolio manager full authority to trade without client approval. Non discretionary PMS requires client consent for every trade. Advisory PMS only provides portfolio recommendations and the client executes on their own broking account. Most Indian PMS providers offer the discretionary format because it allows the manager to act on conviction quickly.<\/p><h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"How_are_Portfolio_Management_Services_taxed_in_India\"><\/span><strong>How are Portfolio Management Services taxed in India?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3><p><strong>Ans. <\/strong>Portfolio Management Services is taxed the same way as direct equity investing since the investor owns each stock. Short term capital gains on shares held under 12 months are taxed at 20 percent. Long term capital gains above Rs 1.25 lakh per year on equity are taxed at 12.5 percent. Dividends are taxable in the investor&#8217;s hands at their income slab. This pass through structure is often more tax efficient than mutual funds for HNI investors.<\/p><h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"What_fees_do_Portfolio_Management_Services_charge\"><\/span><strong>What fees do Portfolio Management Services charge?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3><p><strong>Ans. <\/strong>Portfolio Management Services typically charges two layered fees. A fixed management fee of 1 percent to 2.5 percent per year on assets under management, and a performance fee of around 20 percent of returns above a pre agreed hurdle rate, often 8 percent to 10 percent. Many PMS managers also apply a high water mark to prevent double charging on the same gains. The combined fee can range from 2 percent to 4 percent of assets per year.<\/p><h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Can_NRIs_invest_in_Portfolio_Management_Services_in_India\"><\/span><strong>Can NRIs invest in Portfolio Management Services in India?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3><p><strong>Ans. <\/strong>Yes, NRIs can invest in Portfolio Management Services in India through their NRE or NRO bank accounts subject to FEMA regulations. NRIs need a valid PAN, KYC verified Demat account in India and a written agreement with the SEBI registered portfolio manager. PIS approval may be required depending on the broker setup. Repatriation rules differ between NRE and NRO accounts, so NRIs should consult a tax advisor before signing the PMS agreement.<\/p><h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"What_is_the_alternative_to_Portfolio_Management_Services_for_retail_investors\"><\/span><strong>What is the alternative to Portfolio Management Services for retail investors?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3><p><strong>Ans. <\/strong>For retail investors below the Rs 50 lakh PMS minimum, the practical alternatives are mutual funds, smallcases and SEBI registered research advisory platforms. Univest, for example, offers SEBI registered research analyst guidance through Pro plans starting at Rs 6 per day, with full trade parameters and integrated broking. While this is not Portfolio Management Services in the regulatory sense, it gives retail investors structure<\/p><h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Recent_Article\"><\/span><strong>Recent Article<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2><p><a href=\"https:\/\/univest.in\/blogs\/why-is-ahlucont-share-price-falling-key-reasons-2026\">Why Is Ahluwalia Contracts Share Price Falling Key Reasons 2026<\/a><\/p><p><a href=\"https:\/\/univest.in\/blogs\/why-is-ahlucont-share-price-falling-key-reasons-2026\">Why Is Ahluwalia Contracts Share Price Falling Key Reasons 2026<\/a><\/p><p><a href=\"https:\/\/univest.in\/blogs\/why-is-nuvoco-share-price-falling-key-reasons-2026\">Why Is Nuvoco Vistas Corporation Share Price Falling Key Reasons 2026<\/a><\/p><p><a href=\"https:\/\/univest.in\/blogs\/why-is-capacite-share-price-falling-key-reasons-2026\">Why Is Capacite Infraprojects Share Price Falling Key Reasons 2026<\/a><\/p><p><a href=\"https:\/\/univest.in\/blogs\/why-is-psp-projects-share-price-falling-key-reasons-2026\">Why Is PSP Projects Share Price Falling Key Reasons 2026<\/a><\/p><p><\/p>","protected":false},"excerpt":{"rendered":"<p>Portfolio Management Services, commonly called PMS, is a SEBI regulated investment vehicle where a licensed portfolio manager constructs and manages a personalised stock portfolio on behalf of a high net worth investor. 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