Portfolio Management Services (PMS)

We help eligible investors access institutional-grade PMS strategies from established SEBI-registered portfolio managers. Our role is to shortlist strategies aligned to your objective, guide onboarding and provide independent ongoing review.

What we do for you

• Strategy shortlisting across large-cap, multi-cap, mid-cap and thematic mandates
• Independent due diligence on process, philosophy and track record
• Manager selection aligned to risk appetite and investment horizon
• Consolidated reporting alongside your broader portfolio
• Ongoing review meetings with structured performance dialogue

How we work

1. 01Assess suitability and eligibility
2. 02Shortlist SEBI-registered portfolio managers and strategies
3. 03Guide onboarding, KYC and documentation
4. 04Review performance and rebalancing in scheduled cycles

Where PMS sits in a wealth structure

Portfolio Management Services are discretionary or non-discretionary mandates run by SEBI-registered portfolio managers, subject to a regulatory minimum investment of ₹50 lakh per strategy. Unlike a mutual fund, where you own units of a pooled vehicle, a PMS investor holds securities in an individual demat account managed under a power of attorney. That structure brings transparency at the holding level and a different tax treatment, since gains arise in your own name.

PMS is not a superior version of a mutual fund. It is a different instrument with a different cost structure, a higher minimum, more concentrated portfolios and, typically, higher dispersion of outcomes between managers. For most portfolios, it is a satellite allocation layered onto a well-constructed core rather than the foundation itself. We say this before the conversation goes any further, because the minimum ticket size can make PMS feel like a status decision rather than a portfolio decision.

How we shortlist portfolio managers

Our work begins with the mandate, not the manager. Is the objective concentrated large-cap compounding, a multi-cap approach, a mid-and-small-cap allocation with a long lock-in tolerance, or a thematic exposure that complements what you already hold? Only once that is settled do we look at who runs money that way.

Assessment focuses on process rather than recent numbers. How does the manager define the investable universe? What triggers a sell? How concentrated does the portfolio get, and how much cash is held in difficult markets? How stable has the investment team been across cycles? What is the actual all-in cost once fixed fees, performance fees, hurdle rates, catch-up clauses, brokerage and exit loads are added up? SEBI mandates disclosure of these terms and we read them line by line with you.

Understanding performance disclosures honestly

PMS performance is reported under SEBI's prescribed format, and it is easy to misread. Aggregate strategy returns are not the same as your returns, because your entry date, cash flows and any customisation change the arithmetic. Two investors in the same strategy in the same year can experience materially different outcomes.

We therefore frame every discussion around a range of plausible outcomes and the conditions under which a strategy is expected to struggle, not just the conditions under which it performs. A concentrated portfolio that has done well through a broad rally will behave differently in a narrow, defensive market. Knowing that in advance is what allows you to stay invested through the difficult stretch, which is usually where the result is actually decided.

Onboarding, custody and ongoing oversight

Onboarding involves the PMS agreement, disclosure document, KYC, a dedicated demat and bank account, and a limited power of attorney to the portfolio manager. We guide you through the documentation, explain each consent you are giving, and make sure the operational chain — custodian, broker, reporting — is set up before capital moves.

After investment, our role is independent oversight. We consolidate PMS holdings alongside your mutual funds, fixed income and other assets so overlap is visible; it is common for a PMS portfolio and an equity mutual fund to hold the same names, which quietly concentrates your exposure. We prepare for review meetings with the manager, ask the uncomfortable questions on your behalf, and keep a written record of what was said and whether it held up.

Taxation and exit planning

Because securities are held in your own name, each transaction the manager executes creates a taxable event for you. Portfolio turnover therefore has a direct after-tax consequence that does not exist in the same form inside a mutual fund. High-turnover strategies can look attractive gross and considerably less so net, which is why we examine turnover alongside returns.

Exit deserves as much planning as entry. Exit loads, notice periods and the mechanics of transferring or liquidating holdings all vary by manager. We map the exit route before you commit, so that a decision to leave is a considered choice rather than a scramble. Tax positions should be confirmed with your chartered accountant; nothing here is tax advice.

Risks & important considerations

• PMS carries a SEBI-prescribed minimum investment of ₹50 lakh per strategy and is intended for investors who can absorb concentration and volatility.
• Portfolio managers are registered with SEBI; CONFI acts as a distributor of these strategies and does not manage portfolios.
• Performance shown in strategy disclosures is not indicative of the return any individual investor will achieve.
• Securities are held in your own name, so portfolio turnover creates taxable events directly for you.
• Read the disclosure document and PMS agreement in full, including fee structure, hurdle rates and exit terms, before investing.

Frequently asked questions about Portfolio Management Services (PMS)

More questions are answered on our general FAQ page and in the Knowledge Centre.

Who this typically suits

Not sure where you fit? Our seven-step process begins with a discovery conversation before anything is recommended.