Abakkus PMS Review: Sunil Singhania's Strategies, Returns & Team (2026)
Abakkus PMS is the portfolio management business of Abakkus Asset Manager Private Limited, the firm set up by veteran equity investor Sunil Singhania. As of 31 August 2026, per PMS Bazaar, it reported PMS assets under management of ₹22,954.04 crore across 12,117 clients, offered through 3 investment approaches.
That places Abakkus among the larger independent PMS houses in India by reported assets. Its three strategies span small and mid caps and multi cap mandates. Below we look at the team, the numbers as reported to PMS Bazaar, and the kind of investor each strategy may suit.
Abakkus PMS is the portfolio management business of Abakkus Asset Manager Private Limited, the firm set up by veteran equity investor Sunil Singhania. As of 31 August 2026, per PMS Bazaar, it reported PMS assets under management of ₹22,954.04 crore across 12,117 clients, offered through 3 investment approaches. That places Abakkus among the larger independent PMS houses in India by reported assets. Its three strategies span small and mid caps and multi cap mandates. Below we look at the team, the numbers as reported to PMS Bazaar, and the kind of investor each strategy may suit. Key takeaways Abakkus PMS reports assets under management of ₹22,954.04 crore across 12,117 clients as of 31 August 2026. Investment approaches: 3. Highest 3-year return in the line-up: Emerging Opportunities at 13.08% a year, against 12.1% for the S&P BSE 500 TRI over the same period (to 31 August 2026). Minimum investment ₹50 lakh; reported returns are TWRR, net of fees but before your taxes. Quick Facts: Abakkus PMS Portfolio Manager Abakkus Asset Manager Private Limited SEBI Registration No. INP000006457 PMS AUM ₹22,954.04 crore (as on 31 August 2026) Number of Clients 12,117 (as on 31 August 2026) Investment Approaches 3 Key People Sunil Singhania (Founder, Fund Manager – PMS), Aman Chowhan (Fund Manager – PMS), Hitesh Arora (Fund Manager) Registered Office Mumbai (Santacruz East) Minimum Investment ₹50 lakh (SEBI-mandated minimum for PMS) About Abakkus Abakkus describes itself as an alpha-focused asset manager that invests primarily in listed Indian equities. The firm emphasises a professionally run set-up with an experienced team, and says it aims to generate alpha through strict adherence to processes, frameworks and discipline. Founder Sunil Singhania, CFA, established Abakkus as an India-focused asset management company in 2018. Before that he was Global Head – Equities at Reliance Capital Ltd. and, as CIO – Equities, led the equity schemes of Reliance Mutual Fund (now Nippon India Mutual Fund). Per his profile, Reliance Growth Fund (now Nippon India Growth Fund) grew over 100 times in less than 22 years under his leadership. He served on the Global board of CFA Institute, USA (2013-2019), chaired its Investment Committee (2017-2019), and was the founder and long-time President of the Indian Association of Investment Professionals (now CFA Society India). He is a CA rankholder and a CFA charterholder. Aman Chowhan has over 17 years of Indian equity experience. Before Abakkus he was portfolio manager for all local and offshore schemes of the PMS division of Reliance Asset Management (now Nippon Life India Asset Management), with experience across benchmark, absolute long and long-short strategies. He holds an MBA from Mumbai University. Hitesh Arora brings nearly two decades of domestic and global market experience, with earlier roles at Unifi Capital, Deutsche Bank and J.P. Morgan across equity research, fund management, structuring and risk management. He holds an MBA from IIM Bangalore, an MS in Financial Engineering from Columbia University and a B.Tech (Hons) from IIT Kharagpur, and is a CFA charterholder. Abakkus PMS Strategies and Performance Strategy Category 1Y 2Y 3Y 5Y Inception Emerging Opportunities Small & Mid Cap 8.67% 2.45% 13.08% 15.51% Oct 2020 All Cap Approach Multi Cap & Flexi Cap 10.10% 3.27% 12.11% 13.02% Oct 2020 Diversified Alpha Approach Multi Cap & Flexi Cap 20.91% 5.87% NA NA Jan 2024 S&P BSE 500 TRI (broad-market reference) Index 4.7% -0.1% 12.1% 10.9% — Nifty Smallcap 250 (small-cap reference) Index 11.3% 0.6% 15.5% 15.7% — Returns as of 31 August 2026, TWRR, as reported by the portfolio manager to PMS Bazaar; returns over one year are annualised. Index rows are shown for reference only, as of 31 August 2026 (index figures as published in Sundaram Alternates' August 2026 PMS performance disclosure); each strategy's own SEBI category benchmark may differ, so ask the manager for its benchmark comparison. Abakkus Emerging Opportunities As the name and category suggest, Emerging Opportunities focuses on small and mid cap companies. Launched in October 2020, it has the strongest five-year figure among the three strategies at 15.51% annualised, with 13.08% over three years. Its one-year return was 8.67%, and the 2-year figure of 2.45% shows how the smaller-company correction weighed on the strategy. Abakkus All Cap Approach The All Cap Approach, also launched in October 2020, sits in the multi cap and flexi cap category, which typically means freedom to invest across market capitalisations. It reported 10.10% over one year, 3.27% over two years, 12.11% over three years and 13.02% over five years. Abakkus Diversified Alpha Approach The newest strategy, launched in January 2024, is also a multi cap and flexi cap mandate. As the name suggests, it is likely to be more diversified than the house's other approaches, though investors should confirm portfolio construction in the Disclosure Document. It reported 20.91% over one year and 5.87% over two years; it does not yet have a three-year record. How to Read These Numbers PMS returns mean little in isolation. Each strategy should be compared with its category benchmark (for example, a broad multi cap index for a flexi cap mandate or a small and midcap index for a small and mid cap mandate) over the same period, and with comparable mutual funds net of costs. The 2-year column is worth particular attention because it largely captures the 2024-26 correction in Indian equities, which hit smaller companies hardest; a strategy that held up well over that window may have different risk characteristics from one that rallied sharply before or after it. The figures are Time-Weighted Rates of Return (TWRR) for the strategy as a whole, as reported by the portfolio manager. Your own experience can differ meaningfully depending on when you invested, any additions or withdrawals, and the exact stocks in your account. SEBI norms require PMS performance to be reported net of fees and expenses, but taxes are paid individually by each client and are not reflected in these numbers, so post-tax outcomes will vary. PMS portfolios are typically more concentrated than mutual funds, often holding a limited number of stocks. That concentration can help or hurt relative to the benchmark, and it means drawdowns in individual positions can have a visible impact. Investors should look at volatility and the worst peak-to-trough fall, not just headline returns, when assessing Abakkus PMS. Who Abakkus PMS May Suit Investors with a horizon of five years or more who want an equity PMS run by a team with long institutional fund management experience. Investors seeking small and mid cap exposure through a managed portfolio and who can tolerate sharp interim drawdowns (Emerging Opportunities). Investors preferring a flexible, market-cap agnostic equity mandate (All Cap Approach or Diversified Alpha Approach). Investors who value a large, established PMS platform with a sizeable client base. It may not suit investors who need capital within two to three years, are uncomfortable with equity volatility, or would prefer the lower cost and daily liquidity of a mutual fund. Fees, Minimum Investment and Taxation SEBI mandates a minimum investment of ₹50 lakh for any PMS, which can be brought in as cash, as existing securities, or a combination of both (subject to the portfolio manager accepting the stocks transferred in). PMS houses typically offer a fixed-fee structure (a flat annual percentage of assets), a hybrid structure (a lower fixed fee plus a share of profits), or a performance-fee structure with a hurdle rate. The exact fee schedule for Abakkus PMS, including any exit load, is in the Disclosure Document, which investors should read before signing the client agreement. In a PMS, securities are held in the investor's own demat account, so every trade is a taxable event in the investor's hands. For listed equity, short-term capital gains (holding period of 12 months or less) are taxed at 20%, and long-term capital gains are taxed at 12.5% on gains above the annual exemption of ₹1.25 lakh. Dividends are taxed at the investor's slab rate. For a fuller walkthrough, see our guide on how PMS onboarding, funding, taxation and exit work (/insights/how-pms-works-onboarding-funding-taxation-exit) . Money n Wealth's View What stands out at Abakkus is the depth and pedigree of the investment team, led by a founder with decades of experience running large equity mandates, and the scale of the business, with ₹22,954.04 crore and 12,117 clients as of 31 August 2026. The two original strategies have five-year records of 15.51% (Emerging Opportunities) and 13.02% (All Cap Approach). What to watch: the 2-year returns of 2.45% and 3.27% for the two older strategies are modest, reflecting the recent correction, and investors should compare all periods against the relevant category benchmarks rather than the headline numbers alone. If you are weighing structures, our note on PMS versus mutual funds (/insights/pms-vs-mutual-funds-1-crore-investors) and our overview of India's largest PMS players by AUM (/insights/pms-players-in-india-aum-vintage) may help. Frequently Asked Questions Is Abakkus PMS good? Whether Abakkus PMS fits depends on your goals and risk tolerance. As of 31 August 2026 it reported ₹22,954.04 crore of AUM and five-year returns of 15.51% (Emerging Opportunities) and 13.02% (All Cap Approach). Investors should compare these with category benchmarks and read the Disclosure Document. What is the minimum investment in Abakkus PMS? As with all PMS in India, the SEBI-mandated minimum is ₹50 lakh, which can be invested as cash, securities or both. Which is the best Abakkus PMS strategy? There is no single best strategy; it depends on your goals. Emerging Opportunities and All Cap Approach have the longest track records (since October 2020), while Diversified Alpha Approach has been running since January 2024. Who manages Abakkus PMS? The PMS team includes founder Sunil Singhania, Aman Chowhan and Hitesh Arora. Is Abakkus PMS registered with SEBI? Yes. Abakkus Asset Manager Private Limited is registered with SEBI as a portfolio manager under registration number INP000006457. Related Reading Portfolio Management Services (PMS) in India: the complete 2026 guide (/insights/pms-india) How PMS works: onboarding, funding, taxation, reporting and exit (/insights/how-pms-works-onboarding-funding-taxation-exit) PMS vs mutual funds above ₹1 crore (/insights/pms-vs-mutual-funds-1-crore-investors) PMS players in India by AUM and vintage (/insights/pms-players-in-india-aum-vintage) Wright Research PMS Review (/insights/wryght-research-and-capital-pms-review) WhiteOak Capital PMS Review (/insights/white-oak-capital-management-consultants-pms-review) Tata Asset Management PMS Review (/insights/tata-asset-management-pms-review) Axis AMC PMS Review (/insights/axis-asset-management-company-pms-review) All PMS reviews (/insights/category/pms) Sources SEBI: registered portfolio managers (https://www.sebi.gov.in/sebiweb/other/OtherAction.do?doRecognisedFpi=yes&intmId=10) Association of Portfolio Managers in India (APMI) (https://www.apmiindia.org) PMS Bazaar (https://www.pmsbazaar.com) (AUM, client and strategy return data) Disclaimer: This article is for general informational and educational purposes only and does not constitute investment advice, a recommendation, or an offer/solicitation to invest in any security or PMS strategy. Portfolio Management Services are subject to market risks; please read the Disclosure Document and Client Agreement carefully before investing. AUM, client and performance figures cited are as reported by Abakkus to PMS Bazaar and in other public disclosures as of 31 August 2026, are calculated using the Time-Weighted Rate of Return method, are not verified by SEBI, and individual client returns may vary. Past performance is not indicative of future returns. Strategies, fees and figures may change without notice and should not be construed as a recommendation to buy or sell. Money n Wealth (Predics Fintech Services Pvt Ltd) is an AMFI-registered Mutual Fund Distributor (ARN-121995) and APMI-registered PMS Distributor (APRN-07444); this is not a SEBI-registered investment advisory service. Please consult your financial advisor before making investment decisions.
