Solutions · Discretionary, HNI
A Portfolio In Your Own Name.
Not a pooled scheme — a customised, discretionary portfolio held directly in your name, with full visibility into every holding.
What it is
Discretionary or non-discretionary
A professional portfolio manager runs a customised portfolio in the client's own name — unlike a mutual fund, where money is pooled. A SEBI-registered custodian holds the securities, and reporting is at the individual client level: you see your exact holdings, not a pooled NAV.
At a glance
Minimum₹50 lakh per client
StructureDiscretionary or non-discretionary
CustodySEBI-registered custodian, mandatory
ReportingIndividual holdings, fully visible
Best forHNIs who've outgrown pooled mutual funds
Regulatory change in progress. SEBI released a consultation paper on 23 July 2026 proposing a new “MF-PMS” category — a mutual-fund-only PMS tier with a lower ₹25 lakh minimum. The public comment period closes 13 August 2026; this is a proposal, not yet law. Today's minimum remains ₹50 lakh — we'll update this page the moment it's finalised.
Two operating modes
How much control do you keep?
| Discretionary | Non-discretionary | |
|---|---|---|
| Decision-making | Manager decides, within agreed parameters | Manager advises; you approve every trade |
| Speed | Faster — no approval lag | Slower — each transaction needs sign-off |
| Best for | Clients who want it fully managed | Clients who want the final say |
SAAIVISTA holds NISM-Series-XXI-A (Portfolio Management Services Distributors) certification.
Considering the move from mutual funds to PMS?
We'll walk through whether ₹50 lakh of concentrated, visible holdings fits where you are today.