India's PMS Industry AUM Rises to INR 43.3 Lakh Crore in June as Client Base Continues to Expand: APMI
The Association of Portfolio Managers in India (APMI) has released the June 2026 Anniversary Edition of its PMS Industry Compendium. The latest report highlights the continued growth of India's Portfolio Management Services (PMS) industry, with assets under management (AUM) rising to INR 43.3 lakh crore in June 2026, registering a 1.8% month on month increase, up from 0.5% in the previous month.
The discretionary segment continued to anchor overall AUM growth, while the client base expanded to approximately 2.20 lakh accounts, up 4.0 per cent month on month, reflecting sustained investor participation and the industry's steady momentum into FY27. Total net flows stood at INR 3,54,755 crore during the month, led by discretionary inflows. Equity assets grew 1.4%, plain debt expanded 1.2%, while mutual fund allocations increased 14.6%, reflecting continued diversification across investment portfolios.
Investor participation remained resilient, with domestic investors accounting for 91% of the client base and 95% of total AUM. Domestic AUM expanded 1.9% month on month, while foreign AUM witnessed a marginal 0.2% moderation. PF/EPFO continued to anchor domestic assets, accounting for nearly 79% of domestic AUM, while the steady addition of distributors supported broader PMS penetration across the country.
Mr. Sushant Bhansali, Vice Chairman, APMI said, "India's wealth management landscape is undergoing a structural shift as investors increasingly seek customised, professionally managed investment solutions aligned with their long-term financial goals. The steady expansion in both assets and investor participation reflects growing confidence in the PMS ecosystem. As the industry evolves, continued focus on governance, transparency and investor centric practices will be instrumental in strengthening trust and supporting the next phase of sustainable growth."
The report also highlights continued diversification across asset classes. While plain debt emerged as the largest contributor to the month's AUM expansion, equity assets continued to witness steady growth and mutual fund allocations increased significantly during the month. Structured debt also recorded strong growth from a smaller base, reflecting evolving portfolio allocations and increasing adoption of diversified investment strategies.
