SEBI Portfolio Manager Regulations on WebNoteshttps://v2.webnotes.in/tags/sebi-portfolio-manager-regulations/Recent content in SEBI Portfolio Manager Regulations on WebNotesHugoen-INSun, 17 May 2026 00:00:00 +0000Portfolio Management Service in Indiahttps://v2.webnotes.in/portfolio-management-service-india/Sun, 17 May 2026 00:00:00 +0000https://v2.webnotes.in/portfolio-management-service-india/<p>A <strong>Portfolio Management Service (PMS)</strong> 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 <strong>SEBI (Portfolio Managers) Regulations, 1993</strong> (with multiple subsequent amendments), the PMS framework distinguishes between <strong>discretionary PMS</strong> (the portfolio manager has full investment discretion) and <strong>non-discretionary PMS</strong> (the manager requires client approval for each transaction). The minimum-investment threshold, raised progressively by SEBI over decades, stands at <strong>Rs 50 lakh</strong> 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).</p>