Best Portfolio Management Services (PMS) in India

Top 10 Portfolio Management Services (PMS) Providers in India for 2025

In the current dynamic investment landscape, Portfolio Management Services (PMS) are a favoured option among high-net-worth individuals (HNIs) looking for individualised investment solutions. PMS provides direct ownership of stocks, tax-optimal execution, and professional management of funds—consequently, making it a compelling substitute for mutual funds, particularly for investors with portfolios in excess of Rs 50 lakhs.

As of 2025, India's PMS industry has expanded to over Rs 3.8 lakh crore in assets under management (AUM), as per SEBI data. Selecting the appropriate PMS can be the difference-maker in the creation of long-term wealth, diversification of the portfolio, and risk management.

This article discusses the top 10 PMS providers in India for 2025, who were chosen on the basis of performance, AUM, transparency, strategy, and client satisfaction.

Comparison Table: Top PMS Providers in India (2025)

1. ASK Investment Managers

One of India's most established and reliable PMS firms, recognised for disciplined strategy, steady returns, and rigorous emphasis on long-term wealth creation. 

• AUM: Rs 30,000+ crore

• Flagship Strategies: Lighthouse Portfolio, Growth Portfolio, India Select

• Why ASK Leads the List: ASK Investment Managers maintains its leadership among leading portfolio management services through its rigorous pursuit of quality and growth-oriented firms. With many years of journey and constant top-quartile performance, ASK’s techniques have proven resilience throughout market cycles.

• The Lighthouse Portfolio returned 15.03% yearly returns in 2024–2025, beating various large-cap funds. Its exposure to financials, consumer durables, and capital goods contributed to overall portfolio growth.

• Client Example: An investor who had put Rs 1 crore in 2020 in ASK's Growth Portfolio would now have nearly Rs 2.1 crore, with dividends reinvested.

2. Dezerv

Wealth management company with a tech-first approach, renowned for clarity, cutting-edge investment philosophies, and decision-making based on data to provide powerful, sustained returns for today's high-net-worth investors.

• AUM: Rs 12,000+ crore (as of Q1 2025)

• Minimum Investment: Rs 50 lakhs (according to SEBI)

• Flagship Strategy: Equity Revival Strategy (ERS)

• Why It Stands Out: Dezerv is among India's top PMS, technology-driven and with a "skin in the game" strategy. Its ERS approach has yielded 25–30% CAGR since 2021.

Key Features:

• App-based real-time performance monitoring

• Quarterly statements with XIRR figures

• In-built tax optimisation

3. ICICI Prudential PMS

Supported by a premier financial institution with decades of trust, providing diversified investment strategies, professional fund management, and robust risk control for consistent portfolio growth.

• AUM: Rs 8.74 lakh crore (consolidated MF + PMS)

• Strategies: Contra Strategy, Large Cap Strategy, Flexicap

ICICI Prudential provides SEBI-registered PMS with institutional-grade research and disciplined risk management. Its Large Cap Strategy has returned ~26.99% CAGR over 5 years, one of the best performing PMS in the country.

4. Motilal Oswal Asset Management

A research-driven equity management pioneer, known for profound market understanding, inventory resolution discipline, and long-term wealth technology via persistent portfolio returns.

• AUM: Rs 14,000+ crore

• Popular Strategies: Mid to Mega, Next Trillion Dollar Opportunity

Motilal Oswal's Mid to Mega PMS provided ~40% return in January 2025 itself. Firm research, direct holding of stocks, and active management make it one of the preferred choices among investors looking for the best PMS in India.

5. Marcellus Investment Managers

Reputed for clean, transparent, and fine portfolios, emphasising moral investing, compounding consistency, and organisations with sound fundamentals and sustainable growth potential.

• AUM: Rs 10,000+ crore

• Strategies: Consistent Compounders, Rising Giants

Marcellus is interested in long-term wealth generation via companies having high ROCE, healthy balance sheets, and consistent earnings. It provides 18–20% CAGR consistently, ranking among the top PMS returns providers in India.

6. Abakkus Asset Manager

Established by industry veteran Sunil Singhania, famous for piercing market insights, disciplined investing, and providing outstanding long-term returns with concentrated equity strategies.

• AUM: Rs 4,900 crore

• Flagship Strategy: Emerging Opportunities

Abakkus is one of the most well-reputed portfolio management firms

for mid-cap and small-cap segments. Its Emerging Opportunities Strategy has provided a 31.3% CAGR for five years, with excellent alpha generation ability.

7. SageOne Investment Managers

Boutique PMS house with emphasis on small-cap stocks, supplying high-growth, manageable through targeted portfolios, uncompromising research, and long-term wealth creation methods.

• AUM: Rs 2,000 crore

• Focus: High-growth, concentrated portfolios

SageOne identifies 15–18 high-potential stocks with exponential growth potential. It's most suitable for those who are comfortable with concentrated, long-term exposure to stocks.

8. Carnelian Asset Management

Value-oriented PMS that combines macro and micro research, focused on extremely good investments, sustainable growth, and constant long-term portfolio outperformance for investors.

• AUM: Rs 3,500 crore

• Strategy: SHIFT – Sustainable High-Quality Investments

A balanced and fact-based approach by Carnelian's SHIFT portfolio combines business fundamentals and economic cycles to realise 36% CAGR. Its top-class PMS provider ranking in India makes it stand out.

9. Stallion Asset PMS

PMS is momentum-driven with new-age strategies, using price movements, breakouts in earnings, and fact-based insights to provide high growth as well as quality long-term returns.

• AUM: Rs 1,000 crore

• Focus: Growth + Momentum

Stallion Asset adopts momentum investing, focusing on companies with robust earnings and price breakouts. It has recorded a 26% CAGR, becoming among the top-performing PMS companies in India for active investors.

10. Green Portfolio

Value-based PMS with contrarian investment ethics, emphasising underlooked opportunities, turnaround stocks, and long-term wealth creation by using in-depth, research-oriented strategies.

• AUM: Rs 500 crore

• Strategy: Value + Turnaround Stories

Green Portfolio identifies turnaround opportunities in sectors like PSU, sugar, and textiles. Suitable for investors with high-risk tolerance and long-term vision.

Conclusion

The PMS market in India is developing and offers many strategies for all kinds of investors. Whether you prefer constant increase or excessive returns, these top portfolio management services are recognized for their transparency, performance, and specialist management.

Investors seeking PMS investment in India need to compare performance statistics, risk management approach, and manager expertise prior to a decision. These top 10 PMS providers in India provide the best combination of growth, trust, and innovation for long-term wealth generation as of 2025.

Frequently Asked Questions

1. What are Portfolio Management Services (PMS)?

PMS is an expert investment services firm overseeing HNI portfolios for customized growth and risk control.

2. Who should invest in PMS in India?

Individuals with a net worth of Rs 50 lakh or more who want customized portfolio plans should invest.

3. How is PMS different from mutual funds?

PMS provides direct ownership of equities, customized strategies, and active management, in contrast to pooled mutual funds.

4. Are all PMS providers SEBI-registered?

Yes, only SEBI-registered PMSs are legally permitted to handle discretionary client investments in India.

5. What are the determinants of the best-performing PMS?

History of returns, investment approach, risk control, transparency, and client satisfaction determine the performance of PMS.