India’s portfolio management services (PMS) industry, managing assets worth around Rs 42 lakh crore and serving over 2.1 lakh investor accounts, is at a crucial turning point, according to a senior Securities and Exchange Board of India (SEBI) official. Speaking at the APMI Leadership Conclave 2026, SEBI’s Executive Director, Manoj Kumar, emphasized the need for transparency, strong governance, and investor protection to drive the industry’s next phase of growth. Kumar highlighted the industry’s potential to become a significant pillar of India’s investment ecosystem as investor demands for personalized wealth management solutions evolve.
Industry-wide standardization, enhanced data transparency, and a robust distribution ecosystem are identified by Kumar as crucial factors for sustainable growth in the PMS sector. To ensure a resilient, trusted, and globally competitive industry, deeper market penetration into Tier-2 and Tier-3 cities, increased investor awareness, responsible distribution practices, and collaboration among stakeholders are deemed essential. The APMI Leadership Conclave, organized by the Association of Portfolio Managers in India (APMI), aimed to facilitate dialogue among SEBI-registered portfolio managers.
APMI Chairman Biharilal Deora highlighted the PMS industry’s significance in India’s wealth management landscape, driven by growing investor awareness, rising demand for tailored investment solutions, and a supportive regulatory environment. Deora reaffirmed APMI’s commitment to promoting positive interaction between industry players and SEBI to advance common goals of investor protection, industry growth, and market integrity. Since its inception in 2022, APMI has undertaken approximately 50 strategic initiatives focusing on investor protection, regulatory adherence, transparency, digital transformation, professional development, and business facilitation.
The conclave served as a platform for regulators, portfolio managers, distributors, family offices, and wealth management professionals to deliberate on opportunities and priorities shaping the future growth trajectory of the sector.
