Sanriya blog
12 articles on pms & aif, newest first.
12 articles
PMS & AIF
SEBI's accredited investor framework lets investors who clear income or net worth tests go below the usual ₹1 crore AIF, ₹50 lakh PMS and ₹10 lakh SIF minimums. Here is how it works.
· 10 min read
PMS & AIF
Category I and II AIFs pass income to you with its character intact, with 10% TDS for residents; Category III AIFs pay tax at the fund level. How it works for FY 2026-27, with forms, losses and a worked example.
· 11 min read
PMS & AIF
Three SEBI-regulated routes to a long-short strategy compared: Category III AIF (₹1 crore, leverage up to two times NAV), SIF (₹10 lakh, unhedged shorts up to 25% of net assets) and PMS (₹50 lakh, your own shares).
· 11 min read
PMS & AIF
A step-by-step PMS due diligence checklist: verify the manager, read its track record against the APMI benchmark, and weigh strategy fit, concentration, churn, fees, exit terms and red flags.
· 10 min read
PMS & AIF
SEBI's investor charter allows up to 7 working days to open a PMS account for resident individuals, and 14 for NRIs and non-individual clients, once documents are complete. Here is each step: KYC, the agreement and power of attorney, your PMS demat, funding, reports, withdrawals, exit load and exit.
· 10 min read
PMS & AIF
Close-ended AIFs cannot be judged like mutual funds. Learn what IRR, DPI, RVPI and TVPI measure, why early returns dip, and how SEBI's benchmarking and valuation rules help.
· 10 min read
PMS & AIF
What a PMS client pays: fixed and performance fees, the hurdle and high-water mark with a worked example, 18% GST, the 0.50% cap on operating expenses, SEBI exit load caps and how distributors are paid.
· 10 min read
PMS & AIF
A PMS holds shares in your own name, so every sale is a taxable event for you in that year. FY 2026-27 rates, dividends, advance tax, the fee debate, losses and the statements your chartered accountant needs.
· 10 min read
PMS & AIF
An alternative investment fund is a SEBI-registered, privately pooled vehicle with a ₹1 crore minimum. Here is how its structure, PPM, units, drawdowns, tenure and exits work.
· 10 min read
PMS & AIF
A portfolio management service is a SEBI-regulated account in which a manager runs shares and bonds held in your own name. How the ₹50 lakh minimum, mandate types, accounts and reporting work.
· 10 min read
PMS & AIF
Investing in an AIF means committing at least ₹1 crore, signing the PPM, paying capital calls over 12 to 24 months, waiting out a multi-year lock-in for distributions or a unit transfer, and reporting pass-through income on Form 64C or Form 78.
· 7 min read
PMS & AIF
SEBI's three AIF categories share a ₹1 crore minimum but differ in what they invest in, how long they lock capital, whether they can borrow and who pays the tax.
· 7 min read
