INSIGHTS
Investor Guides to PMS, AIFs & Alternative Investments
Clear, independent explanations of the products HNIs, NRIs and family offices ask us about — how they work, what they cost, how they’re taxed and how to choose. Written to help you ask better questions before you invest.
- 13 in-depth guides
- Education, not sales
Start here
New to PMS and AIFs? These two guides cover the foundations.
What Is PMS? Portfolio Management Services in India, Explained
A Portfolio Management Service gives you a professionally managed portfolio of securities held in your own name. Here’s how it works, what it costs, how it’s taxed — and whether it suits you.
7 min readRead guide FoundationsAlternative Investment Funds (AIFs) in India: Category I, II & III Explained
AIFs open the door to private equity, venture capital, private credit and hedge-fund strategies. Here’s how the three categories work — and what to check before you commit capital.
6 min readRead guideFoundations
What the products are and how they work.
PMS Minimum Investment in India: The ₹50 Lakh Rule, Explained
One number decides whether a PMS is open to you at all. Here is what the ₹50 lakh minimum covers, what counts towards it, and the options if you are not there yet.
4 min readRead guide FoundationsSpecialised Investment Funds (SIFs): SEBI’s New Asset Class, Explained
SEBI created a category between mutual funds and PMS: more freedom than a fund, a far lower entry point than a PMS. Here is how SIFs work and who they suit.
4 min readRead guide FoundationsHedge Funds in India: How Category III AIFs Work
India has no separate “hedge fund” licence. The strategies investors associate with hedge funds are run through Category III AIFs — here’s what they do, how they’re taxed and what to look for.
5 min readRead guide FoundationsPre-IPO and Unlisted Shares in India: How They Work, the Risks and the Tax
Buying into a company before it lists can be rewarding — and it can go badly wrong. Here’s how the market works and what to understand before you invest.
5 min readRead guideCompare
How the options stack up against each other.
PMS vs Mutual Funds: Which Is Right for Your Portfolio?
Both are SEBI-regulated ways to get professional management. They differ in ownership, cost, tax and concentration — and those differences decide which one fits you.
5 min readRead guide ComparePMS vs AIF: Key Differences for HNI Investors
Both are built for high-net-worth investors and both are regulated by SEBI. But they work very differently — from who owns the assets to how your returns are taxed.
4 min readRead guideCosts & Tax
What you pay, and what you keep.
PMS & AIF Fees Explained: Fixed, Performance, Hurdle and High-Water Mark
Fees compound just like returns. Understanding the structure — not just the headline percentage — is one of the simplest ways to protect what you actually take home.
5 min readRead guide Costs & TaxHow PMS and AIFs Are Taxed in India
Two portfolios with the same headline return can leave you with very different amounts after tax. Here’s how each structure is taxed — and how to compare them fairly.
5 min readRead guideNRI & Global
Investing in India from overseas.
Due Diligence
Choosing well, and avoiding mistakes.
How to Choose a PMS: A 10-Point Due Diligence Checklist
There are hundreds of PMS strategies in India, and past returns alone won’t tell you which is right for you. This is the checklist we work through with every client.
4 min readRead guide Due DiligenceThe “Best PMS in India”: How to Judge for Yourself
It is the most-searched question in this market, and the honest answer is that no single PMS is best for everyone. Here is how to judge a strategy properly — and why most “top PMS” lists mislead.
4 min readRead guideHave a question these guides don’t answer?
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