Portfolio management
services.
A professional manager running a portfolio of shares held in your own name, from ₹50 lakh. We help you find, compare and onboard with SEBI-registered portfolio managers.
Fees compound too — against you.
PMS starts at ₹50 lakh. A management fee, and on many mandates a performance fee above a hurdle — every fee is set out in the disclosure document before you sign. Compare two fee levels of your own.
- Low-cost Value
- ₹1,41,97,105
- High-cost Value
- ₹1,23,91,138
An illustration on the figures above, not a quote and not advice.
What a PMS is, and where we sit
A Portfolio Management Service is a SEBI-regulated arrangement in which a registered portfolio manager runs a portfolio for you alone. Unlike a mutual fund, there are no units: the shares sit in a demat account in your own name, so you see every holding and every trade. The regulatory minimum is ₹50 lakh.
L.F.C. Securities acts as a distributor. We help you discover and compare strategies — on the manager’s process, track record, risk and consistency — and we handle the paperwork and the ongoing tracking with you. The portfolio itself is run by the SEBI-registered manager you appoint.
Mutual fund, PMS or AIF
Three regulated ways to have a professional manage money. The differences are the minimum, who owns the securities, and how easily you can leave.
| Mutual fund | PMS | AIF | |
|---|---|---|---|
| Minimum | ₹500 a month by SIP in many schemes | ₹50 lakh | ₹1 crore |
| Who owns the securities | The fund — you hold units | You — in your own demat | The fund — you hold units |
| Tailored to you | No — one pooled portfolio | Yes — a mandate in your agreement | No — the fund’s own strategy |
| Leaving | Open-ended schemes on any business day | Any time; exit load capped by SEBI for 3 years | Category I & II locked for the fund’s life (3+ years) |
| Tax | In your hands on redemption | In your hands, trade by trade | Category I & II in your hands; Category III at the fund |
| Reporting | NAV every business day | A report at least every quarter | NAV at least every six months (quarterly for Category III) |
A summary of the SEBI frameworks as they stand in 2026. Each product’s own documents govern; read them before you invest.
What to understand before committing
PMS requires ₹50 lakh. Below that a mutual fund does much the same job at a lower cost, and we will say so.
A fixed management fee, and on many strategies a performance fee above a hurdle, usually with a high-water mark. Every fee is in the disclosure document before you sign.
SEBI caps exit loads at 3% in the first year, 2% in the second and 1% in the third, and none after that.
A fifteen-stock portfolio can beat the market by more — and trail it by more — than a fund holding a hundred.
Three kinds of PMS.
The difference is who decides and who places the trade. Pick one to see it in full.
Discretionary
You agree the mandate and its limits; the manager decides and places every trade. You see each one in your own demat.
- Who decides
- The manager, within your mandate
- Who executes
- The manager
- Suits
- Investors who want the work done for them
What does your amount open up?
Each vehicle has a minimum set by SEBI. Move the amount and see which ones it reaches — then the question is which suits you, and that comes after a conversation, not a slider.
- Within reachMutual fundsFrom ₹500 a month by SIP
Pooled, regulated and open every business day — where most portfolios start.
How it works → - Within reachSpecialized investment fundsFrom ₹10 lakh
A newer category from mutual fund houses (SEBI, 2025) that can run strategies such as long-short.
- Within reachPMSFrom ₹50 lakh
A portfolio run for you alone, with the shares in your own demat.
How it works → - Needs ₹1 croreAIFFrom ₹1 crore
Private companies, private credit, real estate and hedge strategies, in a pooled fund.
₹50 lakh reaches 3 of 4 — AIF needs ₹1 crore. Reaching a minimum does not make a product suitable; we look at your horizon, your need for access to the money and your risk first.
PMS, step by step.
- 1Suitability first
Your amount, horizon and risk, documented before any strategy is shown.
- 2Compare managers
Strategy, track record, drawdowns, fees and consistency, side by side.
- 3Onboard
An agreement with the manager, and a demat and bank account in your own name.
- 4Track
Holdings, performance and fees reported at least every quarter — and reviewed with us.
Understand PMS properly.
How it works, the types, both sides and the comparisons — for when you want the full picture.
Why investors choose a PMS
Every stock is held in a demat account in your name. You see each holding and transaction, and dividends come to you.
Typically fifteen to thirty stocks chosen with conviction, instead of a fund’s broad basket.
The strategy, the benchmark and any restrictions are written into your agreement with the manager.
Because you own the shares, capital gains are worked out on each transaction in your hands, as with your own trading.
Six strategy families
The ₹50 lakh minimum applies across the industry — it is set by regulation, not by us.
Established market leaders, chosen for stability, consistency of performance and lower volatility.
High-growth emerging companies with the potential for superior long-term returns, and materially higher risk alongside it.
Diversified across large, mid and small caps to balance risk and overall portfolio performance.
Allocated across equities and other asset classes to improve diversification and resilience.
Fundamentally strong companies trading below intrinsic value, held for long-term appreciation.
Companies with strong earnings momentum and scalable business models, held to capture capital growth.
PMS, answered.
A professional investment service in which a SEBI-registered portfolio manager runs a portfolio for you, with the securities held directly in your name.
A PMS is run for you alone, the shares sit in your own demat, and portfolios are usually more concentrated. A mutual fund pools your money with other investors and issues you units.
₹50 lakh, set by SEBI. It can be met in cash, in shares you already hold, or a mix, if the manager accepts them.
In a discretionary PMS the manager decides and executes within your mandate. In a non-discretionary PMS the manager proposes and you approve each trade. In an advisory arrangement you receive advice and act on it yourself.
Yes. SEBI requires every portfolio manager to offer direct onboarding without a distributor. If you invest through us, the manager pays us on a trail basis only, and that is disclosed to you.
We compare managers on process, consistency across market cycles, drawdowns, team stability and fees. We are distributors of these strategies, not the portfolio manager.
You own the shares, so capital gains are taxed in your hands on each transaction, under the usual equity rules.
Yes — reviews, statements and help with anything the manager reports, for as long as you hold the portfolio.
Above ₹50 lakh, the options change.
We will compare managers on process and consistency, and say plainly if a mutual fund does the same job cheaper.