PMS Research
Best PMS in India (2026): top strategies by returns
Updated: October 2026 · Performance as of 31 August 2026 · Baasava Hathiwala
There is no single “best” Portfolio Management Service — the right PMS depends on your goals, risk appetite, horizon and the ₹50 lakh minimum. What can be measured is performance. Below we rank PMS strategies in India strictly by their trailing 3-year returns (CAGR) from the latest available disclosures, drawn from our research on 61 strategies across 26 portfolio managers. Every number carries its own date and source, and we never fill in a missing value.
How to read this: this is a factual ranking of past returns, not a recommendation or a claim about the future. A high trailing number can come from a concentrated strategy, a favourable market phase, or a short track record. Always weigh the time period, benchmark, consistency, style and fees.
Top PMS strategies by 3-year return
Ranked by trailing 3-year CAGR among strategies with a 3-year record (as of 31 August 2026).
| # | Strategy | Manager / firm | Category | 1Y | 3Y | 5Y |
|---|---|---|---|---|---|---|
| 1 | Sundaram India Secular Opportunities Portfolio (S.I.S.O.P) | Sundaram Alternate Assets | Multi Cap | +38.68% | +26.01% | +16.58% |
| 2 | Sundaram Voyager | Sundaram Alternate Assets | Multi Cap | +36.06% | +24.43% | +16.10% |
| 3 | Sundaram SELF (Sundaram Emerging Leadership Fund) | Sundaram Alternate Assets | Mid & Small Cap | +47.52% | +23.98% | +15.87% |
| 4 | Motilal Oswal Mid to Mega | Motilal Oswal Asset Management | Mid & Small Cap | +12.19% | +23.51% | +13.96% |
| 5 | Alchemy High Growth Select Stock | Alchemy Capital Management | Multi Cap | +18.14% | +21.64% | +16.27% |
| 6 | Motilal Oswal Founders | Motilal Oswal Asset Management | Multi Cap | +14.37% | +20.19% | N/A |
| 7 | Carnelian Shift Strategy | Carnelian Asset Management & Advisors | Mid & Small Cap | +15.57% | +20.09% | +21.80% |
| 8 | ICICI Prudential PMS Largecap Strategy | ICICI Prudential Asset Management | Large Cap | +11.06% | +18.79% | +15.00% |
| 9 | Motilal Oswal Value Migration Strategy | Motilal Oswal Asset Management | Large Cap | +6.10% | +18.09% | +14.53% |
| 10 | ICICI Prudential PMS ACE Strategy | ICICI Prudential Asset Management | Multi Cap | +10.43% | +18.00% | +19.32% |
| 11 | ValueQuest Growth Scheme | ValueQuest Investment Advisors | Multi Cap | +31.94% | +17.98% | +17.97% |
| 12 | Sundaram Rising Stars | Sundaram Alternate Assets | Mid & Small Cap | +52.47% | +17.74% | +16.39% |
Returns are as reported in each strategy’s own disclosure; see the individual strategy page for the exact source and date. Figures may be gross or net of fees depending on the manager.
Top PMS strategies by 1-year return
A broader list including newer strategies with at least a one-year record.
| # | Strategy | Firm | Category | 1Y | 3Y |
|---|---|---|---|---|---|
| 1 | Sundaram Rising Stars | Sundaram Alternate Assets | Mid & Small Cap | +52.47% | +17.74% |
| 2 | Sundaram SELF (Sundaram Emerging Leadership Fund) | Sundaram Alternate Assets | Mid & Small Cap | +47.52% | +23.98% |
| 3 | Sundaram India Secular Opportunities Portfolio (S.I.S.O.P) | Sundaram Alternate Assets | Multi Cap | +38.68% | +26.01% |
| 4 | Sundaram Voyager | Sundaram Alternate Assets | Multi Cap | +36.06% | +24.43% |
| 5 | ValueQuest Growth Scheme | ValueQuest Investment Advisors | Multi Cap | +31.94% | +17.98% |
| 6 | Motilal Oswal India Growth Strategy | Motilal Oswal Asset Management | Multi Cap | +31.24% | N/A |
| 7 | Equirus Long Horizon Fund | Equirus Wealth | Mid & Small Cap | +27.35% | +14.30% |
| 8 | Emkay ENVI | Emkay Investment Managers | Multi Cap | +25.97% | +17.01% |
| 9 | Alchemy Alpha Small Cap | Alchemy Capital Management | Mid & Small Cap | +21.75% | N/A |
| 10 | Green Portfolio Special | Green Portfolio | Multi Cap | +21.44% | +16.85% |
Browse PMS by category
Different strategies suit different objectives. Explore the full research set by style:
- Large Cap PMS strategies
- Multi Cap PMS strategies
- Flexi Cap PMS strategies
- Mid & Small Cap PMS strategies
- Quant / Momentum PMS strategies
How to choose a PMS (not just chase returns)
- Match the style to your goal. A momentum or thematic strategy behaves very differently from a large-cap or value one. The top of a trailing-return table is often whichever style just had its moment.
- Look at consistency, not one number. Compare 1Y, 3Y and 5Y together and against the benchmark. Steady relative out-performance matters more than a single spiky year.
- Understand the fees. PMS often carries a fixed fee plus a performance fee above a hurdle. Fees and in-portfolio churn (each sale is your taxable event) eat into the headline return.
- Mind the minimum and liquidity. ₹50 lakh is the regulatory floor; make sure a PMS fits your overall allocation rather than concentrating it.
- Know the manager. Read the philosophy and track record. Our manager profiles cover experience, past firms and approach.
Is a PMS even right for you?
For most investors, mutual funds are the sensible core and a PMS is an addition for larger portfolios with a specific reason for direct ownership. If you have between ₹10 lakh and ₹50 lakh, the newer SIF category may fit; with ₹1 crore and sophistication, AIFs open up. See the full PMS vs Mutual Fund vs AIF vs SIF comparison.
Frequently asked questions
Which is the best PMS in India in 2026?
There is no single "best" PMS — the right one depends on your goals, risk appetite, horizon and the ₹50 lakh minimum. What can be measured objectively is past performance. On this page we rank PMS strategies by their trailing 3-year returns (CAGR) from the latest available disclosures, so you can see which have performed strongest historically. Past performance does not guarantee future results.
What is the minimum investment for a PMS in India?
SEBI mandates a minimum investment of ₹50 lakh in a Portfolio Management Service. This is why PMS is suited to high-net-worth investors; those with smaller amounts typically use mutual funds, and investors with ₹10 lakh can consider the newer SIF category.
How are PMS returns measured and compared?
PMS performance is usually reported as a CAGR (compound annual growth rate) over 1, 2, 3 and 5 years, net or gross of fees depending on the disclosure. We show each strategy's own figure with the date and source, rank strictly by the trailing 3-year number where available, and never fill in a missing value.
Are higher PMS returns better?
Not on their own. A high trailing return can come from a concentrated or high-risk strategy, a favourable market phase, or a short track record. Always look at the time period, the benchmark, consistency across years, the strategy style, and fees — not just the headline number.
How many PMS strategies does Baasava Hathiwala track?
We maintain source-backed research on 61 PMS strategies across 26 portfolio managers in India, each with its own performance date and source, updated regularly.
Dig deeper
Explore every strategy with full data and analysis in our PMS research hub, browse portfolio managers, try the Make Money or Build Wealth tool, or talk to Baasava Hathiwala.
For education and information only — not investment advice, a recommendation, or an offer. PMS investments are subject to market and other risks; past performance does not guarantee future results. Figures are sourced from public disclosures and may change; verify with the portfolio manager and read all documents before investing. See our disclaimer.