PMS Industry Reports 1.8% Growth in AUM to ₹43.3 Trillion in June 2026; Client Base Tops 220,000

Assets Under Management (AUM) of India's Portfolio Management Services (PMS) industry rose to ₹43.3 trillion in June 2026, up 1.8% from the previous month, according to PTI reports citing data released by the Association of Portfolio Managers in India (APMI).  

The number of client accounts also increased by nearly 4% to more than 220,000 during the month. Domestic investors held 95% of the industry's total AUM and accounted for 91% of all client accounts. 

Discretionary Portfolios Hold the Largest Share 

Discretionary PMS accounted for ₹36.72 trillion of the total AUM in June 2026. Assets under non-discretionary mandates stood at ₹3.42 trillion, while advisory mandates managed ₹3.06 trillion. 

Domestic AUM increased 1.9% over May 2026, while foreign AUM declined 0.2%. Provident Fund (PF) and Employees' Provident Fund Organisation (EPFO) investments together contributed nearly 79% of domestic assets. 

Inflows Rise During the Month 

Total inflows into the PMS industry rose to ₹3.55 trillion in June 2026 from ₹4,085 crore in May 2026. Most of the increase came from discretionary portfolios. 

By asset class, equity assets increased 1.4% during the month. Plain debt assets grew 1.2%, while investments in mutual funds recorded a 14.6% increase. 

SEBI Proposes Changes 

Portfolio Management Services differ from mutual funds as portfolios are managed according to individual client mandates. Fee structures vary and may be fixed or linked to portfolio performance. 

Earlier this month, SEBI proposed allowing portfolio managers to invest in securities awaiting listing as well as overseas listed equity and debt. It also proposed permitting discretionary portfolio managers to invest up to 10% of a client's AUM in investment-grade unlisted debt securities.  

At present, only non-discretionary PMS and advisory services can invest up to 25% of client assets in unlisted securities. 

Read More: Delhi High Court Orders Winding Up of Paytm Payments Bank After RBI Licence Cancellation! 

Conclusion 

June data showed an increase in PMS assets under management and investor accounts compared with the previous month. Regulatory proposals by SEBI are expected to be considered separately. 

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