PMS/AIF
What are PMS and AIF?
An individual investor usually can not make substantial returns on their investments due to several reasons like lack of knowledge or time, PMS and AIF comes into play here.
Portfolio Management Service (PMS) is a licenced and professional investment service offered by a legal entity (Portfolio Managers) who advices, directs or conducts the management and administration of client’s portfolio in different asset classes like stocks, debts, assets, commodities, etc as per clients requirements. PMS is offered to niche segment of long term investors with minimum investment size of ₹50 lakhs.
Alternate Investment Fund (AIF) is a privately pooled investment service that collects money from HNIs and NRIs and invest it in accordance with a defined investment policy for the benefit of its investors. It provides the operation ease of mutual fund and flexibility of PMS together which makes it a perfect solution for HNIs and NRIs with minimum investment size of ₹ 1 Crore.
What are PMS and AIF?
Role of Portfolio Managers:
Portfolio Managers are expected to perform as per client needs and requirements and offer the best wealth management solution. Some of the duties of a Portfolio Manager are mentioned below:
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All About Portfolio Management Services (PMS):
PMS is a specifialized professional investment service that invests in selected equities with minimum diversification. The Portfolio Managers are expected to pick well researched companies for investment and investors are expected to keep patience during the market volatility for generating better profits at a higher risk.
Types of PMS in India:
There are three types of PMS schemes. You can choose the schemes based on your requirement:
PMS Schemes Available:
- 2POINT2 Long Term Value
- Abakkus All Cap Approach PMS
- Abakkus Emerging Opportunities PMS
- ABANS Smart Beta Portfolio
- ABM Core & Satellite Portfolio
- ABM India Consumption Portfolio
- AccuraCap Alpha10 Portfolio
- Accuracap Alphagen PMS
- Accuracap Picopower PMS Portfolio
- AcePro Advisors Pvt. Ltd
- AcePro Galaxy Strategy PMS
- AcePro Large Cap Strategy PMS
- Aditya Birla Core Equity Portfolio
- Aditya Birla India Special Opportunities Portfolio
- Aditya Birla Innovation Portfolio
- Aditya Birla Select Sector Portfolio
- Aditya Birla Top 200 Core Equity Portfolio
- Aequitas India Opportunities
- Alchemy Ascent
- Alchemy High Growth
- ALCHEMY High Growth Select Stock
- ALCHEMY Leaders Fund
- Alder Capital B2C Growth
- Alfaccurate Advisors Emerging Giants Portfolio
- Alfaccurate Advisors Focus Plan PMS
- AMBIT Coffee Can PMS
- AMBIT Emerging Giants PMS
- AMBIT Good & Clean
- Amsec Life
- Amsec Life
- Green Portfolio Dividend Yield Fund PMS
- Green Portfolio Index PMS
- Green Portfolio MNC Advantage
- Anand Rathi Advisors Impress PMS
- Anand Rathi Advisors MNC PMS
- Anand Rathi Advisors Portfolio Plus PMS
- ASIT C MEHTA Ace 15
- ASIT C MEHTA Ace 50
- ASIT C MEHTA Ace Allocator
- ASIT C MEHTA Ace Midcap
- ASIT C MEHTA Ace Multicap
- ASIT C MEHTA Ace Regular Income
- Asit C Mehta PMS
- ASK Emerging Opportunities Portfolio (EOP)
- ASK India Select Portfolio (ISP)
- ASK Indian Entrepreneur Portfolio – IEP PMS
- ASK Investment Managers – Growth Portfolio
- Avendus ESG Fund (Environment, Society and Governance) | PMS
- Avestha Fund Management Growth PMS
- AXIS Brand Equity PMS
- AXIS Core & Satellite Fund
- Basant Maheshwari PMS
- Bonanza Growth Strategy PMS
- Bonanza Value Strategy PMS
- Buoyant Capital Opportunities Multi-Cap Fund
- CapGrow – Special Situations Strategy PMS
- Capgrow Capital Growth Strategy PMS
- Capitalmind Long Term Portfolio
- Capitalmind Market Fund
- Capitalmind Momentum Fund
- Care PMS Growth Plus Value
- Care PMS Growth Plus Value
- Care Portfolio Managers- Large & Mid cap strategy
- Carnelian “The Shift” Strategy
- Carnelian Capital Compounder Strategy
- Centrum Built to Last
- Centrum Deep Value
- Centrum Deep Value Multibagger
- Centrum Flexicap
- Centrum Good to Great
- Centrum Microcap
- Concept Investwell Dynamic PMS
- Concept Investwell Legend
- Concept Investwell Marvel
- Credent Asset Management Growth PMS
- Dalal & Broacha Long Term Growth
- Dolat Capital Alpha PMS
- Dolat Capital Long Alpha PMS
- Edelweiss Focused Mid & Small Cap Portfolio
- EDELWEISS Pure Yield Ideas
- EDELWEISS Rubik PMS
- Eklavya Capital Long Term Value (LTV) PMS
- Electrum Laureate Portfolio
- Emkay 12 Fund
- Emkay Capital Builder Fund
- Emkay L.E.A.D PMS
- Equirus Long Horizon Fund Portfolio
- Estee Advisors Arbitrage I-Alpha PMS
- Estee Advisors Long Only Equities PMS
- First Global India Multi Asset Allocation PMS Portfolio
- First Global India Super 50 Portfolio – (IS50)
- Fractal Capital Wealth Builder
- Girik Capital Multicap Growth Equity Strategy PMSGLOBE CAPITAL Value Portfolio PMS
- Green Lantern Capital Alpha PMS
- Green Lantern Capital Growth PMS
+170 more
Top PMS Schemes:
Benefits of a Portfolio Management Service:
There is often a comparison between mutual funds and PMS as both offer Professional Management. However, listed below are some benefits that are exclusive for PMS schemes:
PMS, unlike mutual funds, invests in a concentrated group of companies with lesser diversification to generate higher profits as compared to mutual funds where diversification is higher to meet the expectation of masses.
PMS are expected to invest in companies which are more suitable to your risk appetite and returns expectation than mutual funds with flexibility to change the holdings anytime.
In PMS the equities purchased are held in your personal Demat unlike mutual funds that offer you a unit of total pool of investments. Hence, your unrealised loss in market downtrend is lower than mutual funds as NAV is affected by not just the price of assets it owns but also the withdrawals from the investment pool.
PMS does not have to follow the regulations like in mutual funds to hold a particular company stock only upto a certain percentage. Hence, you can have a higher concentration of performing equities in the Portfolio which helps in generating better alpha than what mutual funds do.
All About Alternate Investment Funds (AIF):
AIF is a investment pool created by Portfolio Managers for HNIs and NRIs that invest in all kinds of products including unlisted equities, long short hedging style of investments and others to generate the highest alpha for their clients. No demat account is required for investing a AIF.
Types of AIF in India:
There are three types of AIF schemes. You can choose the schemes based on your requirement:
AIF Schemes Available:
- Abakkus Emerging Opportunities Fund- I Category III AIF
- Abakkus Growth Fund – 1 Category III AIF
- Abakkus Growth Fund- II Category III AIF
- Alchemy Leaders of Tomorrow Fund Category III AIF
- AlphaMine Absolute Return- Category III AIF
- Alta Cura AI Hedge Fund – Category III AIF
- Ampersand Growth Opportunities Fund Scheme (AGOFS-1)
- ARTHA VENTURE Fund
- Ashika India Alpha Fund- Category III AIF
- ASK Golden Decade Fund Long Only Category III AIF
- Avendus Absolute Return Fund
- AVENDUS Enhanced Return Fund – II
- Axis AMC RERA Opportunities Fund- II- Category II AIF
- Carnelian Asset Advisors Structural Shift Fund- Cat III AIF
- Carnelian Capital Compounder Fund- I AIF
- Dalal and Broacha India Opportunities MultiCap Fund Series 1
- Dolat Absolute Return Fund- Category III AIF
- DSP India Enhanced Equity SatCore Fund
- EDELWEISS All Weather Equity
- EDELWEISS Alpha Fund – Scheme I
- EDELWEISS Alternative Equity
- Edelweiss Crossover Opportunities Fund Series III AIF
- EDELWEISS TWIN WIN
- EQUANIMITY Ventures Fund
- Estee Enhanced Alpha Fund- Category III AIF
- First Water Capital Fund- Category III AIF
- Girik Multicap Growth Equity Fund- Scheme II – Category III AIF
- i-Wealth Fund 1 CAT III AIF
- ICICI PRUDENTIAL Long Short Fund – Series I – Category III AIF
- IIFL High Growth Companies Fund Category III AIF
- ITI Growth Opportunities Fund
- ITI Long Short Equity Fund
- MNCL Capital Compounder Fund – I
- Nippon India – The NEXT BILLION
- OLD Bridge AIF
- Purnartha AIF Series 1 Fund- Category III AIF
- Whitespace Alpha Equity Plus (Fund I)- Category III AIF
- Quest Smart Alpha – Sector Rotation Fund- Category III AIF
- Rockstud Capital Aif
- Roha Asset Managers Emerging Companies Fund AIF
- SageOne Flagship Growth 2 Fund Category III AIF – Scheme II
- Sameeksha Capital Investment Fund – Category III AIF
- SCIENT CAPITAL – India Fixed Income Opportunities Fund
- SMARTOWNER Capital Growth Fund 1
- SUNDARAM Alternative Opportunities Series – High Yield Secured Debt Fund – II
- TATA Absolute Return Fund- Category III AIF
- TATA Equity Plus Absolute Return Fund – Category III AIF
- UNIFI High Yield Fund
- VARANIUM Dynamic AIF
- Varanium Focused Equity Fund
- White Oak Capital Management- India Equity Fund V – Category III AIF
- Whitespace Alpha Debt Plus (Fund II)- Category III AIF
Top AIF Schemes:
Benefits of a Alternate Investment Funds :
There is often a comparison between mutual funds, PMS and AIF as all of these offer Professional Management. However, listed below are some benefits that are exclusive for AIF schemes:
Portfolio Managers/ Sponsors must have a minimum of 10 crore or 5% of total capital invested in the schemes and must be well-capitalized to ensure allignment of interest.
AIFs are allow withdrawing the capital and profits on sale of a said asset/security in Portfolio without the compulsion of getting reinvested. Moreover, they can even participate in IPO bidding as QIBs.
AIFs do not have the compulsion of following a particular index to create a benchmark return. Hence, can take higher risk for a potential higher returns.
AIFs do not require Demat accounts, NRIs do not require the PIS (Portfolio Investment Scheme) account to be opened, the amount received from each investor is pooled to create an investment portfolio. Moreover, the taxation is at the scheme level.
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