PMS Tracker: 10 best performing PMS portfolios of 2025 with gains of up
Written by Riya Sharma, ETMarkets.com|Jan 15, 2026, 04:05:01 PM IST1/11PMS trackerSelect Portfolio Management Services (PMS) portfolios delivered standout returns in 2025, with one-year gains climbing as high as 42%…
PMS tracker
Select Portfolio Management Services (PMS) portfolios delivered standout returns in 2025, with one-year gains climbing as high as 42%, according to data compiled by PMS Bazaar. The list below highlights the top 10 best-performing PMS portfolios of 2025, ranked purely on their one-year performance as reported by PMS Bazaar.
Aequitas Investment Consultancy Pvt Ltd
Aequitas Investment Consultancy Pvt Ltd topped the PMS performance chart in 2025 with its India Opportunities Product, which falls under the small-cap category. The portfolio delivered a one-year return of 41.81%, the highest among all PMS strategies tracked by PMS Bazaar. The portfolio was launched on February 1, 2013, has an age of 12 years and 10 months, and manages assets worth Rs 4,264.64 crore.
ithought Financial Consulting LLP
ithought Financial Consulting LLP secured the second position with its SPHERE portfolio, a multi-asset strategy that delivered a one-year return of 32.68% in 2025. The portfolio was incepted on December 16, 2021, has a portfolio age of four years, and reported assets under management of Rs 877.65 crore, as per PMS Bazaar data.
Qode Advisors LLP
Qode Advisors LLP ranked third on the 2025 PMS performance list with its Qode All Weather portfolio, which follows a multi-cap and flexi-cap strategy. The portfolio posted a one-year return of 27.73% during 2025. According to PMS Bazaar, the portfolio was launched on November 18, 2024, making it one of the newest portfolios among the top performers.
Maximal Capital
Maximal Capital featured among the top PMS performers of 2025 with its debt-oriented portfolio, which delivered a one-year return of 26.01%. The portfolio was launched on June 8, 2022, and stood out for generating strong returns within the debt category, as per PMS Bazaar’s performance data.
Wave Asset Private Limited
Wave Asset Private Limited made it to the top five PMS performers of 2025 with its multi-cap and flexi-cap portfolio, which recorded a one-year return of 24.61%. The portfolio was incepted on May 3, 2024, and demonstrated strong performance over the one year, according to PMS Bazaar.
ithought Financial Consulting LLP (Second Portfolio)
ithought Financial Consulting LLP featured again in the top 10 PMS performers with another multi-asset portfolio that delivered a one-year return of 23.90% in 2025. As per PMS Bazaar data, this portfolio was launched on October 17, 2022, highlighting consistent performance across the firm’s PMS offerings.
InCred Asset Management
InCred Asset Management earned a place among the top PMS performers of 2025 with its thematic portfolio, which generated a one-year return of 23.85%. The portfolio was launched on July 18, 2023, and delivered strong gains over the year, as reported by PMS Bazaar.
2Point2 Capital
2Point2 Capital featured in the 2025 top 10 PMS performers with its multi-cap and flexi-cap portfolio, which posted a one-year return of 23.40%. The portfolio was launched on July 20, 2016, has an age of 9 years and 5 months, and manages assets worth Rs 1,791.01 crore, according to PMS Bazaar.
Pace Financial Investment Adviser Pvt Ltd
Pace Financial Investment Adviser Pvt Ltd secured a spot in the top 10 with its multi-asset PMS strategy, which delivered a one-year return of 20.74% in 2025. The portfolio was launched on December 19, 2020, has a portfolio age of five years, and showed steady performance during the year, as per PMS Bazaar data.
Carnelian Asset Management and Advisors Pvt Ltd
Carnelian Asset Management and Advisors Pvt Ltd completed the list of the top 10 PMS performers of 2025 with its multi-cap and flexi-cap portfolio, which recorded a one-year return of 18.95%. The portfolio was incepted on May 15, 2019, has a portfolio age of 6 years and 7 months, and featured among the best-performing PMS strategies tracked by PMS Bazaar.
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Figures reflect the source report and its stated period. This article is for information and is not investment advice.
