PMS Industry Records ₹25,088 Crore Net Inflows in April 2026; AUM Rises to ₹42.29 Lakh Crore

India's Portfolio Management Services (PMS) industry reported Assets Under Management (AUM) of ₹42.29 lakh crore in April 2026, according to data released by the Association of Portfolio Managers in India (APMI).  

The industry's AUM increased 2.1% from March levels, while the total client base stood at around 2.12 lakh accounts. The month also saw a recovery in investor flows.  

Net inflows into PMS strategies were recorded at ₹25,088 crore, compared with a net outflow of ₹648 crore in March. 

Inflows Rise as Redemptions Ease 

Total inflows into PMS schemes rose to ₹46,030 crore in April, up 27% from the previous month. At the same time, outflows declined 43% to ₹20,942 crore. 

The change in flows helped reverse the trend seen in March, when investor withdrawals had exceeded fresh investments. April's figures indicate higher deployment of capital across PMS strategies at the start of the new financial year. 

Equity Assets Register Growth 

Equity-focused portfolios contributed to the rise in industry assets during the month. Overall equity AUM increased 13.8% compared with March. 

Within this category, listed equity assets grew 13.6%, while unlisted equity assets rose 38.8%. Unlisted debt assets recorded a 150.5% increase, showing higher allocations to private market investments.  

Mutual fund holdings within PMS portfolios increased 5.4%, while plain debt assets rose 0.8%. 

Domestic Investors Continue to Lead 

Domestic investors accounted for about 95% of total PMS assets and nearly 91% of client accounts. PF and EPFO-related investments remained a major component, contributing close to ₹31.8 lakh crore, or around four-fifths of domestic AUM. 

Foreign investor participation also increased during the month. Foreign AUM rose 7.8% from March, while domestic AUM recorded a 1.8% increase. 

Market Gains Support Industry Assets 

Indian equity markets ended April higher, with the Sensex gaining 6.9% and the Nifty 50 rising 7.5%. Broader indices outperformed, as the BSE Midcap index advanced 13.8% and the Smallcap index climbed 19.6%. 

The increase in PMS assets during April came alongside stronger market performance and positive net inflows, with allocations spread across listed equities, unlisted assets and debt strategies. 

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Conclusion 

Data for April showed an increase in PMS assets alongside a turnaround in investor flows. Equity and private market allocations remained key contributors to asset growth. 

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