Cognito Portfolio Management Service (PPFAS)

Sun, 17 May 2026 00:00:00 +0000

Cognito Portfolio Management Service, commonly referred to as the Cognito PMS, is the SEBI-registered discretionary Portfolio Management Service launched in October 1996 by Parag Parikh Financial Advisory Services Limited (PPFAS Ltd). Cognito is the strategic predecessor of the PPFAS mutual fund business: it served as the principal vehicle for Parag Parikh ’s value-investing and behavioural-finance practice from October 1996 until the 24 May 2013 launch of Parag Parikh Long Term Value Fund (PPLTVF, the predecessor name of PPFCF). Cognito remains operational under PPFAS Ltd for legacy clients but has been closed to new clients for over a decade, with the PPFAS Mutual Fund AMC’s mutual-fund-scheme suite being the principal current vehicle for PPFAS investment management.

Portfolio Management Service in India

Sun, 17 May 2026 00:00:00 +0000

A Portfolio Management Service (PMS) in India is a SEBI-regulated investment-management vehicle through which a SEBI-registered Portfolio Manager manages individual client portfolios under a defined mandate. PMS is the principal vehicle for high-net-worth investors seeking customised investment management beyond what mutual fund schemes provide. Governed by the SEBI (Portfolio Managers) Regulations, 1993 (with multiple subsequent amendments), the PMS framework distinguishes between discretionary PMS (the portfolio manager has full investment discretion) and non-discretionary PMS (the manager requires client approval for each transaction). The minimum-investment threshold, raised progressively by SEBI over decades, stands at Rs 50 lakh as of 2026, positioning PMS as a high-net-worth-investor product distinct from mutual fund schemes that are open at much lower minimums (Rs 100 to Rs 5,000).

PMS on WebNotes

Cognito Portfolio Management Service (PPFAS)

Portfolio Management Service in India