PMS industry AUM rises 2% to Rs 44.11 lakh crore in July

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.