Portfolio Management, done properly.
For investors who qualify as high-net-worth individuals, I facilitate access to SEBI-regulated Portfolio Management Services through AssetPlus, a professionally managed, concentrated portfolio held directly in your own name, alongside Mutual Funds, NPS, Corporate FDs, and Insurance for the rest of your financial picture.
AssetPlus is a SEBI-registered mutual fund distribution platform that also facilitates Portfolio Management Services distribution. I assist you as your registered distributor; your money and transactions stay directly between you, the Portfolio Manager, and AssetPlus.
What is PMS, structurally?
A SEBI-regulated investment service, distinct from a mutual fund in four specific ways.
₹50L Minimum
As mandated by SEBI under the Portfolio Managers Regulations, 2020, this is a regulatory floor for the product itself, not a platform choice.
Your Own Demat
Securities are held directly in your own demat account, not pooled with other investors' money the way a mutual fund unit is.
Concentrated Portfolio
Typically 15 to 25 stocks around a defined mandate, a different shape than a diversified mutual fund, built for a specific objective set upfront.
Full Transparency
Access to holdings, transactions, and performance figures, not a periodic summary. You always know exactly what you own.
How it actually works
Five steps from first conversation to an active, reporting portfolio.
Consultation
We talk through your goals, risk comfort, and whether the ₹50L PMS threshold and structure genuinely fit your situation.
Documentation and KYC
PAN, digitally verified Aadhaar, nominee details, bank proof, and a photograph, collected and verified.
Demat Account
A demat account in your own name is opened or linked, since this is where your securities will actually sit.
Fund Transfer
Once the account is active and funds are transferred, the Portfolio Manager begins deploying capital per the agreed strategy.
Ongoing Reporting
Regular portfolio, performance, and transaction reports, plus continued access to me for questions along the way.
PMS vs. mutual funds
Not better or worse, structurally different. Here's exactly how.
| Aspect | Mutual Funds | PMS |
|---|---|---|
| Ownership structure | Pooled fund, you hold units | Direct securities in your own demat account |
| Minimum investment | As low as ₹500 (SIP) | ₹50 lakh (SEBI-mandated) |
| Portfolio construction | Standardised, same for all unit-holders | Customised to your individual mandate |
| Visibility | Periodic NAV & fact sheet | Access to individual holdings & transactions |
| Governing regulation | SEBI Mutual Funds Regulations, 1996 | SEBI Portfolio Managers Regulations, 2020 |
| Capital gains taxation | At redemption, fund-level netting | Per transaction, on each buy/sell |
Is this actually for you?
An honest look both ways, not everyone eligible for PMS is well served by it.
A seasoned MF investor with a ₹5Cr+ portfolio ready for a more actively managed strategy.
An HNI wanting a dedicated portfolio manager and direct stock ownership.
Comfortable with concentration, seeking research-driven, high-conviction positioning.
Wanting flexibility, like liquidity needs or excluding specific stocks from your mandate.
Still building your base, under ₹50L. Mutual funds are likely the better starting point for now.
New to equity investing and haven't yet experienced a full market cycle.
Uncomfortable with concentration. If broad diversification matters more to you than potential alpha, this structure may not fit.
Wanting maximum simplicity. Each PMS transaction is taxed individually, which adds real complexity at filing time.
How PMS gains are taxed
| Type of Gain | Holding Period | Tax Rate |
|---|---|---|
| Short-Term Capital Gain (STCG) | Less than 12 months | 20% |
| Long-Term Capital Gain (LTCG) | More than 12 months | 12.5% |
| Dividend Income | – | As per your income slab |
Each buy/sell transaction is taxed individually since holdings sit directly in your demat account. Surcharge and cess apply separately based on total income. Rates per the Finance Bill 2026 and subject to change; this is general information only, not tax advice, please consult your tax advisor for guidance specific to your situation.
PMS FAQ
For questions on Mutual Funds, NPS, FDs, or Insurance, see the main FAQ. Ask Anuj on WhatsApp if you need more.
No. As an APMI Registered PMS Distributor (APRN10235), I facilitate access to Portfolio Management Services via AssetPlus, handling onboarding, access, and ongoing reporting. Your actual portfolio is managed by a separate, SEBI-registered Portfolio Manager under the SEBI (Portfolio Managers) Regulations, 2020. I am not a Portfolio Manager and do not make investment decisions on your behalf.
SEBI mandates a minimum investment of ₹50 lakh for Portfolio Management Services. This is a regulatory floor for the product itself, not a platform-specific minimum, and reflects the fact that PMS portfolios are built and managed individually for each investor rather than pooled.
In a mutual fund, your money is pooled with other investors' and you hold units representing a share of that pool. In PMS, securities are held directly in your own demat account, and the portfolio is built specifically around your mandate rather than a standardised scheme followed by every investor.
Fees, any lock-in, and exit terms are set by the individual Portfolio Manager and disclosed in that specific strategy's own disclosure document. Unlike mutual fund expense ratios, there is no single SEBI-mandated fee structure across all PMS strategies, so it's important to read the specific scheme's documents before investing.
PMS portfolios are typically more concentrated, often 15 to 25 stocks, than a diversified mutual fund, which can mean higher volatility alongside the potential for differentiated returns. Concentration risk, along with the other risks specific to a given strategy, is detailed in the Portfolio Manager's disclosure document, which should be read carefully before investing.
Onboarding involves a documentation and KYC step (PAN, Aadhaar, bank proof, nominee details), opening or linking a demat account in your name, and then a fund transfer once that account is active. Timelines vary by Portfolio Manager, but I stay involved throughout so you're not navigating the paperwork alone.
Regulatory Disclosures
Mutual Fund Investments are subject to market risks, read all scheme related documents carefully. Past performance is not indicative of future returns.
Anuj Devashrayee (ARN: 313718, NISM Series V-A, XV & XXI-A Certified) is an AMFI-registered Mutual Fund Distributor and an APMI-registered PMS Distributor (APRN10235), operating as OakPillar Investments. Products (Mutual Funds, NPS, Corporate FDs, Insurance, and PMS) are facilitated through the AssetPlus platform. Product-specific risks and disclosures for Corporate FDs, Insurance, and PMS are detailed in the "What I Offer" section above.
OakPillar Investments is not a SEBI-registered Investment Adviser (RIA) and does not provide personalized investment advice or research services, and does not itself manage portfolios under PMS. Information on this website is for general educational purposes only.