PMS Performance Comparison India (2026): Top Strategies Ranked by Returns
A side-by-side look at how India's leading Portfolio Management Services have performed — 1-year, 3-year and 5-year returns on one page.
On this page
Portfolio Management Services (PMS) sit a level above mutual funds: a professional manager runs a concentrated, personalised equity portfolio for you, with a SEBI-mandated minimum investment of ₹50 lakh. Because the space is opaque and returns aren't published like mutual-fund NAVs, comparing PMS strategies side by side is genuinely hard.
This page pulls the leading Indian PMS strategies together in one comparison — ranked by their 3-year annualised return — so you can see how the top houses (Sundaram, Motilal Oswal, Carnelian, Capitalmind, Buoyant and others) actually stack up.
How to read this. All figures are as of 30 June 2026 (a few carry a 31 July 2026 figure), compiled from PMS Bazaar, APMI and official PMS/AMC disclosures. 1-year figures are absolute; 3-year and 5-year are annualised (CAGR). This is information and education only — not investment advice, and past performance never guarantees future returns.
Top PMS strategies in India by 3-year return
These are the highest 3-year (annualised) performers in our database. Note how the leaders cluster in Multi Cap and Mid & Small Cap — the categories where an active, concentrated manager has the most room to add value.
| # | Strategy | House | Category | 1Y | 3Y p.a. | 5Y p.a. |
|---|---|---|---|---|---|---|
| 1 | Sundaram S.I.S.O.P | Sundaram Alternate | Multi Cap | +30.8% | +24.9% | +18.5% |
| 2 | Motilal Oswal Mid to Mega | Motilal Oswal | Mid & Small Cap | +8.6% | +24.4% | +15.1% |
| 3 | Sundaram Voyager | Sundaram Alternate | Multi Cap | +27.0% | +24.3% | +18.5% |
| 4 | Sundaram SELF (Emerging Leadership) | Sundaram Alternate | Mid & Small Cap | +32.5% | +23.3% | +17.4% |
| 5 | Motilal Oswal Founders | Motilal Oswal | Multi Cap | +1.4% | +22.0% | — |
| 6 | Capitalmind Surge India | Capitalmind | Mid & Small Cap | −2.5% | +20.6% | +17.3% |
| 7 | Carnelian Shift Strategy | Carnelian | Mid & Small Cap | +7.5% | +20.3% | +20.4% |
| 8 | Invasset Growth Pro Max | Invasset | Multi Cap | +3.5% | +19.7% | +18.4% |
| 9 | Motilal Oswal Value Migration | Motilal Oswal | Large Cap | −6.0% | +19.3% | +14.8% |
| 10 | Alchemy High Growth Select Stock | Alchemy | Multi Cap | +5.3% | +19.1% | +16.9% |
| 11 | Sameeksha Equity Fund | Sameeksha | Multi Cap | +4.4% | +18.6% | +17.5% |
| 12 | Buoyant Opportunities | Buoyant | Multi Cap | +5.1% | +18.0% | +20.2% |
| 13 | Sundaram Rising Stars | Sundaram Alternate | Mid & Small Cap | +37.1% | +17.9% | +16.8% |
| 14 | Green Portfolio Special | Green Portfolio | Multi Cap | +13.1% | +17.8% | +15.0% |
| 15 | Equirus Long Horizon | Equirus | Mid & Small Cap | +14.8% | +17.5% | +13.0% |
You can explore every strategy — with its manager, philosophy, minimum and full return history — in the Baasava PMS research database.
What the numbers actually tell you
1. Consistency matters more than a single hot year. Look at the gap between the 1-year and 3-year columns. Sundaram Rising Stars leads on 1-year (+37.1%) but sits mid-table on 3-year. Motilal Oswal Founders is almost flat over 1 year (+1.4%) yet compounds at +22% over three. A strong 3- and 5-year record through different market phases says far more than one good year.
2. Category shapes the return. The multi-cap and mid-&-small-cap strategies dominate the top of the table, because that's where a concentrated manager can lean into conviction. Large-cap PMS (e.g. Motilal Oswal Value Migration) tends to track closer to the index.
3. Dispersion is huge. Among strategies with a 3-year record, the range runs from ~+25% p.a. at the top to low-teens at the bottom — a far wider spread than you'd see across large mutual funds. Manager selection is everything in PMS.
Motilal Oswal PMS returns
Motilal Oswal runs one of India's best-known PMS franchises, so its numbers are worth isolating. As of 30 June 2026 (annualised):
| Strategy | Category | 3Y p.a. | 5Y p.a. |
|---|---|---|---|
| Mid to Mega | Mid & Small Cap | +24.4% | +15.1% |
| Founders | Multi Cap | +22.0% | — |
| Value Migration | Large Cap | +19.3% | +14.8% |
| Multifactor Equity | Multi Cap | +17.3% | +12.4% |
| Ethical Strategy | Multi Cap | +15.1% | +12.4% |
| Next Trillion Dollar Opportunity (NTDOP) | Mid & Small Cap | +14.1% | +9.0% |
The spread inside a single house — from +24% to +14% over three years — is a reminder that "which PMS provider" matters less than which specific strategy, and whether its mandate fits your goal and risk appetite. See the full Motilal Oswal PMS breakdown.
PMS vs mutual funds — which is right for you?
| Mutual Fund | PMS | |
|---|---|---|
| Minimum investment | ₹500 (SIP) | ₹50 lakh (SEBI minimum) |
| Ownership | Units of a pooled fund | Stocks held directly in your name |
| Portfolio | Diversified, regulated caps | Concentrated, high-conviction |
| Disclosure | Daily NAV | Monthly, less standardised |
| Taxation | At fund/unit level | On each transaction in your account |
| Best for | Most investors, any amount | HNIs comfortable with concentration + higher risk |
Higher potential returns in PMS come with higher concentration risk and a much larger ticket size. A PMS is not simply a "better mutual fund" — it's a different tool for a different investor.
What to check before investing in a PMS
- The manager and philosophy, not just the trailing return. A number without a repeatable process behind it is noise.
- Risk and drawdowns — how did the strategy behave in falling markets, not just rising ones?
- Costs — fixed fees, performance fees and hurdle rates vary widely and eat into net returns.
- Fit with your goal — concentration suits a long horizon and a strong stomach, not money you'll need soon.
- The fine print — read the disclosure document and every scheme-related document carefully.
A note on this data
Every figure here carries a date (30 June 2026, some 31 July 2026) and a source (PMS Bazaar / APMI / official disclosures). Nothing is estimated. Returns are shown for education and comparison only — they are not a recommendation to invest in any strategy.
Want to go deeper? Browse the full PMS research database, or read about the fund managers behind these strategies.
Investments are subject to market risks. Please read all scheme-related and offer documents carefully before investing. The information above is for educational purposes only and is not investment advice. If you'd like a personalised view on whether a PMS — or a simpler mutual-fund route — fits your goals, book a free consultation.
Disclaimer. Content published on Baasava is for educational and informational purposes only and should not be considered investment, financial, tax or legal advice. Markets carry risk. Readers should do their own research and consult an appropriately qualified professional before making financial decisions.
