# PMS industry AUM rises 2% to Rs 44.11 lakh crore in July 2026-08-21T19:11:59+00:00 | Business & Economy | Indian Opinion Desk Corroboration: 1 independent outlet India's portfolio management services (PMS) industry saw its assets under management (AUM) rise 2 per cent month-on-month to approximately Rs 44.11 lakh crore in July, according to the July 2026 PMS Industry Compendium from the Association of Portfolio Managers in India (APMI). The client base grew 1.3 per cent to about 2.23 lakh accounts during the month. On a year-on-year basis, both AUM and client base expanded by about 11 per cent. The industry added its highest number of distributors in FY27 so far in July, with 1,226 individual and 181 non-individual distributors joining. Total PMS net inflows rose to Rs 4.66 lakh crore in July from Rs 3.55 lakh crore in June. Discretionary services accounted for the bulk of inflows at Rs 4.62 lakh crore. The discretionary segment held 84.7 per cent of total AUM and 95.5 per cent of the client base. Domestic investors made up 91 per cent of the client base and 95 per cent of total AUM. Plain debt remained the largest asset class at 83 per cent of the PMS book. The number of SEBI-registered portfolio managers reached 534. APMI Chairman Vikas Khemani said the industry's next phase must be defined by wider investor participation and greater ease of investing. ## Indian Opinion Analysis The PMS industry's AUM of Rs 44.11 lakh crore is now comparable to the entire Indian mutual fund industry's size a decade ago, reflecting the growing appetite for high-net-worth customised portfolios. The jump in distributor additions suggests firms are aggressively expanding reach beyond the top metros. With plain debt dominating the book, the bulk of PMS money remains risk-averse despite the segment's reputation for equity-heavy strategies. The next data point to watch is the August compendium, which will show whether the July surge in net inflows and distributor additions sustains or was a one-month spike driven by year-end tax planning. ## Coverage - thehindubusinessline.com Straight reporting of industry data with a direct quote from APMI chairman, no editorialising or government angle. This story was synthesised by AI from the source linked above. Tags: APMI, PMS, SEBI, Vikas Khemani Canonical: https://indianopinion.org/pms-industry-aum-rises-2-to-rs-44-11-lakh-crore-in-july/ License: Summary and commentary (c) Indian Opinion, reusable with attribution. Facts belong to the linked sources. Cite: https://indianopinion.org/pms-industry-aum-rises-2-to-rs-44-11-lakh-crore-in-july/#story-in-brief Review state: restored archive article, accurate at time of publication, not offered to search indexes. How this brief was made: an AI model read the report linked above and wrote this summary and analysis, which were published automatically. Published briefs are sampled every hour by an automated quality check; the editor verifies its findings and approves corrections, and corrected briefs carry a dated correction line. We do no original reporting. Methodology: https://indianopinion.org/ai-use-policy/