Portfolio managers have seen a fourth of their clients drop off over the course of the previous three years amid an increase in ticket size and sub-par returns.
Portfolio management services (PMS) providers had 161,465 clients in November 2019. That fell 25% to 120,978 as of November 2022, data from a monthly regulatory bulletin showed. However, assets under management grew nearly 50% to Rs 26.28 trillion during the same period.
