PMS industry association shows assets rise to over ₹42 lakh crore in April

PMS industry association shows assets rise to over ₹42 lakh crore in April


India’s Portfolio Management Services (PMS) industry entered FY27 on a strong note, with assets under management (AUM) crossing ₹42.2 lakh crore in April 2026, according to the latest Compendium Report released by the Association of Portfolio Managers in India (APMI).

The industry AUM rose 2.1% month-on-month, reflecting steady investor participation at the start of the new fiscal year. The client base stood at around 2.12 lakh accounts, showing a marginal adjustment of 1.7% during the month.

A key highlight of the month was the return of positive fund flows. Net inflows stood at ₹25,088 crore in April, compared with an outflow of ₹648 crore in March. The turnaround was driven by a 27% month-on-month rise in inflows to ₹46,030 crore, alongside a moderation in redemptions.

APMI said the discretionary segment continued to anchor overall industry growth, while asset allocation trends indicated sustained investor interest in equity and alternative strategies.
Within asset classes, listed equity portfolios grew 13.6% month-on-month, while unlisted equity surged 38.8%, and unlisted debt jumped 150.5%, signalling rising participation in private market strategies. Equity assets overall expanded 13.8%, while mutual fund allocations rose 5.4% and plain debt increased 0.8%.

Domestic investors accounted for about 91% of the client base and 95% of total AUM, underscoring the continued dominance of local participation. However, foreign AUM also rose 7.8% month-on-month, while domestic AUM grew 1.8%, reflecting balanced inflows across investor categories.

PF and EPFO allocations continued to form a significant base of domestic assets, contributing nearly 80% of domestic AUM. Distributor additions also supported deeper PMS penetration during the month.

Commenting on the trends, APMI Board Member Vikas Khemani said the data reflects a structural shift in India’s wealth landscape, with capital increasingly flowing toward diversified and specialised investment strategies across listed and unlisted markets.

Indian equity markets ended April on a strong note, with the Sensex rising 6.9% and the Nifty 50 gaining 7.5% month-on-month. Broader markets outperformed, with the BSE Midcap index up 13.8% and the Smallcap index rising 19.6%. Sectoral gains were led by power, realty, capital goods, infrastructure and metals, while foreign portfolio investors (FPIs) were net sellers worth ₹41,000 crore. Domestic institutional flows continued to provide support.

APMI said the overall trends point to a more diversified and maturing PMS ecosystem, with growing participation across investor categories and strategies.



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