Since 2003
Value Migration
Long-term compounding in good businesses run by great managers. Motilal Oswal's oldest PMS.
18.92%CAGR since start · BSE 500 TRI 17.18%
A portfolio of 20 to 30 stocks, held in your own name.
Motilal Oswal's Portfolio Management Services, from ₹50 lakh. Professionally run, with every share sitting in your own demat account.
- Your own dematSee every stock you own.
- Since 2003Motilal Oswal's oldest PMS strategy.
- Audited reportsTax-ready statements every year.
₹50 lakhminimum to start, in cash or shares
5strategies run by Motilal Oswal AMC
42,000+investors in Motilal Oswal PMS
₹1.5 lakh crMotilal Oswal AMC assets across MF, PMS and AIF
2003the year the Value Migration strategy began
Figures as shown on Motilal Oswal AMC's PMS pages on 7 Oct 2026. The ₹50 lakh minimum is set by SEBI.
What a PMS isDiscretionary portfolio management
Not a fund you hold units in. A portfolio you own.
01.
The shares are yours
Every stock is bought in your own demat account. Dividends and bonuses come straight to you.
02.
Fewer, larger bets
20 to 30 companies, picked on Motilal Oswal's QGLP test: quality, growth, longevity and price.
03.
Reports you can file
Audited reporting and tax-ready statements, with an online login to track it any day.
Motilal Oswal PMS strategies5 open for investment
Five strategies. One way of picking stocks.
Since 2007
Next Trillion Dollar Opportunity
Mostly small and mid caps in the sectors set to gain as India adds its next trillion dollars of GDP.
13.96%CAGR since start · BSE 500 TRI 11.53%
Since 2017
Mid to Mega
Companies of every size, held for long-term capital growth, with mid caps the largest share.
22.24%CAGR since start · BSE 500 TRI 15.08%
Since 2023
Founders Portfolio
Businesses whose founders still own more than 26%, and run them with a long horizon.
25.52%CAGR since start · BSE 500 TRI 16.57%
NewSince 2023
India Growth Fund
The newest strategy: good businesses run by great managers, with about half the portfolio in small caps.
19.41%CAGR since start · BSE 500 TRI 13.43%
CAGR since each strategy's start, as shown on Motilal Oswal AMC's PMS pages on 7 Oct 2026, against the BSE 500 TRI. Past performance does not indicate future returns.
Inside each strategyPortfolio, sectors, top holdings
What you would actually own.
Motilal Oswal Value Migration Strategy · since 2003
Value Migration
The strategy aims to benefit from the long-term compounding effect of investing in good businesses run by great business managers, for superior wealth creation.
18.92%a year since 18 Feb 2003
17.18%BSE 500 TRI, same period
+1.74%a year ahead of the index
If you had invested ₹50 lakh at launch
₹29.93 croretoday, against ₹21.13 crore in the BSE 500 TRI
Value MigrationBSE 500 TRIGrown at each one's published CAGR; real returns rise and fall year to year.
Market cap mix
43%mid caps
- Large caps19%
- Mid caps43%
- Small caps36%
- Cash & other2%
24stocks in the portfolio
3 yrs+suggested horizon
10%most in one stock, when bought
35%most in any one sector
Top sectors
- Capital Goods38.25%
- Financial Services19.10%
- Consumer Durables10.44%
- Chemicals6.60%
- Consumer Services5.34%
- Realty4.78%
Top 10 holdings · 46.8% of the portfolio
MCX6.04%
Eternal5.34%
Prestige Estates4.78%
Bharat Electronics4.77%
Bharat Dynamics4.52%
Religare Enterprises4.50%
Apar Industries4.31%
Suzlon Energy4.22%
InterGlobe Aviation4.17%
Bajaj Finance4.15%
Motilal Oswal Next Trillion Dollar Opportunity · since 2007
Next Trillion Dollar Opportunity
The strategy aims to invest in stocks from sectors that can benefit from India's next trillion dollars of GDP growth, predominantly small and mid caps, looking for potential winners that would take part in successive phases of that growth.
13.96%a year since 3 Aug 2007
11.53%BSE 500 TRI, same period
+2.43%a year ahead of the index
If you had invested ₹50 lakh at launch
₹6.11 croretoday, against ₹4.05 crore in the BSE 500 TRI
Next Trillion Dollar OpportunityBSE 500 TRIGrown at each one's published CAGR; real returns rise and fall year to year.
Market cap mix
38.7%mid caps
- Large caps30.5%
- Mid caps38.7%
- Small caps29.8%
- Cash & other1%
32stocks in the portfolio
3 yrs+suggested horizon
10%most in one stock, when bought
35%most in a sector, or the benchmark weight
Top sectors
- Financial Services30.93%
- Capital Goods22.76%
- Consumer Durables7.45%
- Realty6.15%
- Information Technology5.75%
- Metals & Mining5.72%
Top 10 holdings · 43.1% of the portfolio
Piramal Finance6.16%
IDFC First Bank5.13%
Aditya Birla Capital4.99%
Kalyan Jewellers4.33%
MCX4.14%
Coforge3.93%
Ujjivan SFB3.82%
Cummins India3.63%
CG Power3.54%
Inox Wind3.42%
Motilal Oswal Mid to Mega Strategy · since 2017
Mid to Mega
The strategy aims to achieve long-term capital appreciation by investing primarily in equity and equity-related instruments across market capitalisation.
22.24%a year since 18 Dec 2017
15.08%BSE 500 TRI, same period
+7.16%a year ahead of the index
If you had invested ₹50 lakh at launch
₹2.92 croretoday, against ₹1.72 crore in the BSE 500 TRI
Mid to MegaBSE 500 TRIGrown at each one's published CAGR; real returns rise and fall year to year.
Market cap mix
44%mid caps
- Large caps21%
- Mid caps44%
- Small caps27%
- Cash & other8%
27stocks in the portfolio
Longterm horizon
10%most in one stock, when bought
35%most in a sector, or the benchmark weight
Top sectors
- Capital Goods29.55%
- Consumer Durables15.87%
- Financial Services14.53%
- FMCG7.70%
- Information Technology7.39%
- Automobiles4.94%
Top 10 holdings · 61.8% of the portfolio
Hitachi Energy9.06%
Radico Khaitan7.70%
Coforge7.39%
Polycab India6.61%
MCX5.89%
Kalyan Jewellers5.56%
Five-Star Business Fin.5.05%
MTAR Technologies4.92%
TVS Motor Company4.85%
TD Power Systems4.74%
Motilal Oswal Founders Portfolio · since 2023
Founders Portfolio
The strategy aims to invest predominantly in Indian businesses where the founders' stake is more than 26%: owners with a long horizon who have shown good governance and adaptability through the way they use and distribute capital.
25.52%a year since 16 Mar 2023
16.57%BSE 500 TRI, same period
+8.95%a year ahead of the index
If you had invested ₹50 lakh at launch
₹1.12 croretoday, against ₹86.1 lakh in the BSE 500 TRI
Founders PortfolioBSE 500 TRIGrown at each one's published CAGR; real returns rise and fall year to year.
Market cap mix
42%mid caps
- Large caps16%
- Mid caps42%
- Small caps41%
- Cash & other1%
24stocks in the portfolio
3 yrs+suggested horizon
10%most in one stock, when bought
35%most in any one sector
Top sectors
- Capital Goods28.86%
- Financial Services24.86%
- Consumer Durables7.43%
- Chemicals6.07%
- Consumer Services5.96%
- Automobiles4.75%
Top 10 holdings · 45.7% of the portfolio
Eternal5.96%
PTC Industries5.33%
Piramal Finance5.33%
Muthoot Finance5.25%
Amber Enterprises4.33%
Angel One4.06%
Radico Khaitan3.92%
Suzlon Energy3.90%
Waaree Energies3.83%
Prestige Estates3.75%
Motilal Oswal India Growth Fund · since 2023
India Growth Fund
The strategy aims to benefit from the long-term compounding effect of investing in good businesses run by great business managers, for superior wealth creation.
19.41%a year since 1 Nov 2023
13.43%BSE 500 TRI, same period
+5.98%a year ahead of the index
If you had invested ₹50 lakh at launch
₹83.8 lakhtoday, against ₹72.2 lakh in the BSE 500 TRI
India Growth FundBSE 500 TRIGrown at each one's published CAGR; real returns rise and fall year to year.
Market cap mix
51.3%small caps
- Large caps17.03%
- Mid caps29.69%
- Small caps51.3%
- Cash & other1.98%
33stocks in the portfolio
3 yrs+suggested horizon
10%most in one stock, when bought
35%most in any one sector
Top sectors
- Capital Goods29.45%
- Financial Services25.71%
- Consumer Durables11.66%
- Automobiles6.54%
- Healthcare4.37%
- Realty3.13%
Top 10 holdings · 42.8% of the portfolio
Piramal Finance5.39%
PG Electroplast5.02%
MCX4.71%
Pricol4.19%
Syrma SGS4.13%
DCB Bank4.01%
TD Power Systems3.91%
Suzlon Energy3.82%
IDFC First Bank3.82%
Kalyan Jewellers3.82%
PMS fee calculatorNothing is sent
What a year of fees costs you.
Your portfolio after one year
₹58.23 lakh
+16.5% after all fees and expenses
SEBI's illustration format (Annexure 4A), the same as Motilal Oswal's own calculator: fees on average assets, returns earned evenly through the year, high-water mark = what you invested. GST extra. Your PMS agreement sets the actual fees. Motilal Oswal's calculator (Excel)
Ask us the fee for a strategyPMS for NRIsFrom Motilal Oswal AMC's own papers
Living abroad? Your portfolio can still be in India.
Motilal Oswal's PMS is open to every Indian national, resident or not. From abroad, it takes one extra bank account and a few forms.
Who can invest
- Non-resident Indians, and persons of Indian origin living abroad
- From ₹50 lakh, the same SEBI minimum as residents
What you need
- A PIS account with an RBI-designated bank, as RBI requires
- NRE for money you can take back abroad; NRO for money you cannot
- A FATCA declaration, signed with the application
- PMS, demat, bank and trading accounts: opened within 14 days of complete papers
Tax on your gains
- 12.5%on long-term gains above ₹1.25 lakh a year, on shares held 12 months or more
- 20%on short-term gains on listed shares
- Deducted at source when shares are sold, plus surcharge and cess
- Your country of residence may tax the gain too, under its own rules.
Living in the US or Canada? Ask us before you start: FATCA rules decide which accounts can be opened.
Sources: Motilal Oswal AMC's PMS FAQs, PMS Investor Charter and PMS Disclosure Document. Tax rates are for listed shares under the Income-tax Act, from 23 July 2024.
How to startFully digital
- 01
Talk to us
Your goals, horizon and what you already hold.
- 02
Read the papers
Disclosure document, strategy one-pager, fee terms.
- 03
Sign up online
On Motilal Oswal's DigiPMS, with ₹50 lakh in cash or shares.
- 04
Track it
Online login, statements, and us a call away.
PMS or mutual fundBoth run by Motilal Oswal AMC
Same research. A different way to hold it.
Mutual fundPMS
You ownUnits of a poolThe shares, in your demat
MinimumA few hundred rupees₹50 lakh
PortfolioOften 50+ stocks20 to 30 stocks
FeesAn expense ratioFixed, or linked to gains
TaxWhen you sell unitsOn each sale, in your name
Talk to us about PMSAbout a minute
Portfolio management services in Ahmedabad. A person replies.
Tell us what you have in mind. We walk you through the strategies, the fees and the paperwork.
- Call
- +91 76007 29555
- +91 97373 04182
Questions8
Quick answers.
Who can invest in a PMS?
Resident and non-resident individuals, HUFs, companies and trusts, with at least ₹50 lakh. That minimum is set by SEBI.
Can an NRI invest in Motilal Oswal PMS?
Yes. Motilal Oswal AMC's PMS is open to all Indian nationals, resident or not. NRIs invest through a PIS account with an RBI-designated bank, with the same ₹50 lakh minimum. What you need from abroad.
Can I start with shares instead of cash?
Yes. Shares you already hold can count towards the ₹50 lakh, valued on the day they move in. The portfolio manager may sell those that do not fit the strategy.
Where are my shares held?
In a demat account in your own name, run for the PMS. You see every stock, and dividends and corporate actions come to you.
What are the fees?
A fixed management fee, a performance fee on gains above a hurdle, or a mix of both, plus expenses and GST. The exact terms are in your PMS agreement; the calculator above shows how they add up.
Can I take money out?
Yes. Motilal Oswal's strategies are open-ended with daily redemption. Any exit charge is set out in the agreement before you sign.
How is a PMS taxed?
Like shares you own directly: each sale is taxed as short- or long-term capital gain in your name, and dividends at your slab rate.
How do I track my portfolio?
Through Motilal Oswal's investor login and app, with regular statements and an audited yearly report. We go through them with you.
From the GVNG DeskRead before you invest
