The PMS/AIF industry has grown rapidly over the past few years, despite higher expenses compared with mutual funds, as high-ticket investors prefer the comfort of having more direct access to their investment advisors/fund managers than being seen as one of the millions of investors invested in a mass product.
With no significant long-term track record, this asset growth came on the back of goodwill and sheer marketing. However, with smaller- size making PMSs funds more nimble, they have also now built a healthy track record.
