Stallion Asset PMS Review: Core Fund Returns, Strategy & Team (2026)
Stallion Asset PMS is a growth-focused portfolio management service run by Stallion Asset Pvt Ltd from Mumbai. As of 31 August 2026, it reports PMS AUM of ₹9,610.84 crore, 7,246 clients and a single investment approach, the Stallion Asset Core Fund.
A one-strategy house with this scale of assets is uncommon in Indian PMS, and the Core Fund's reported 3-year and 5-year numbers have drawn wide attention. This review sets out the facts, the reported returns and the questions investors should ask before committing ₹50 lakh or more.
Stallion Asset PMS is a growth-focused portfolio management service run by Stallion Asset Pvt Ltd from Mumbai. As of 31 August 2026, it reports PMS AUM of ₹9,610.84 crore, 7,246 clients and a single investment approach, the Stallion Asset Core Fund. A one-strategy house with this scale of assets is uncommon in Indian PMS, and the Core Fund's reported 3-year and 5-year numbers have drawn wide attention. This review sets out the facts, the reported returns and the questions investors should ask before committing ₹50 lakh or more. Key takeaways Stallion Asset PMS reports assets under management of ₹9,610.84 crore across 7,246 clients as of 31 August 2026. Investment approaches: 1. Highest 3-year return in the line-up: Core Fund at 32.7% 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: Stallion Asset PMS Portfolio Manager Stallion Asset Pvt Ltd SEBI Registration No. INP000006129 PMS AUM ₹9,610.84 crore (as on 31 August 2026) Number of Clients 7,246 Investment Approaches 1 Key People Amit Jeswani (Fund Manager) Registered Office Mumbai (Andheri West) Minimum Investment ₹50 lakh (SEBI-mandated minimum for PMS) About Stallion Asset Stallion Asset is a SEBI-registered portfolio manager that names growth investing as its core philosophy. It launched its core fund in 2018 with the stated aim of helping clients build wealth over time. The firm deliberately offers just one equity approach, explaining this as a customer-focused choice: every client is invested in the same strategy, so the manager's attention is not split across multiple products. The fund is managed by Amit Jeswani , who holds both the Chartered Financial Analyst (CFA Institute, USA) and Chartered Market Technician (CMT, USA) designations, a combination he describes as a double charter. He studied business with finance at Kingston University London. According to his profile, he has been investing in capital markets for 14 years, began at the age of 16 with exposure to his father's stock broking business, and has worked with several large financial firms. He is a member of the Association of Technical Market Analysts and the Indian Association of Investment Professionals. The pairing of fundamental (CFA) and technical (CMT) credentials suggests a process that may combine business analysis with attention to price trends, though the data available does not detail the exact stock selection method. Investors should ask for the Disclosure Document to understand it fully. Stallion Asset PMS Strategies and Performance Strategy Category 1Y 2Y 3Y 5Y Inception Core Fund Multi Cap & Flexi Cap 18.21% 12.72% 32.70% 23.63% Oct 2018 S&P BSE 500 TRI (broad-market reference) Index 4.7% -0.1% 12.1% 10.9% — Returns as of 31 August 2026, TWRR, as reported by the portfolio manager; 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. Stallion Asset Core Fund The Core Fund is classified as Multi Cap & Flexi Cap and has been running since October 2018. As of 31 August 2026 it reported 18.21% over one year, 12.72% over two years, 32.70% over three years and 23.63% over five years. As a flexi cap growth strategy, it can presumably move across market capitalisations in search of companies with strong earnings growth, rather than being confined to large caps. The 3-year figure of 32.70% is notably high, and the 5-year figure of 23.63% indicates the strategy compounded strongly through a full cycle. The 2-year figure of 12.72% is lower, which is consistent with the broader 2024-26 correction, but still positive. Because all the firm's clients sit in this one approach, the Core Fund's numbers effectively represent the entire house's track record. Growth-oriented portfolios tend to hold companies with higher valuations, which can magnify both rallies and corrections. Investors should look at the portfolio's drawdowns, sector concentration and turnover, and not only at trailing returns, before investing. How to Read These Numbers Compare each Stallion Asset PMS approach with the benchmark index of its category over the same periods, and with peers of a similar style; a mid or small cap portfolio should be judged against mid and small cap indices, not the Nifty 50. The 2-year column captures the 2024-26 correction in Indian equities, when many portfolios, especially those with mid and small cap exposure, gave back part of earlier gains. Ask the manager how the portfolio was positioned through that phase. These are Time-Weighted Rates of Return (TWRR) for the approach as a whole. Your own return depends on when you invest, add or withdraw money, so individual results can differ. Under SEBI norms PMS returns are reported net of fees and expenses, but not of taxes, which vary by investor. PMS portfolios are usually far more concentrated than mutual funds, often 15 to 30 stocks, so volatility and drawdowns can be higher. Who Stallion Asset PMS May Suit Investors comfortable with a growth investing style that may hold richly valued, fast-growing companies. Those who prefer a single, focused strategy where the manager's full attention is on one portfolio. Investors with a horizon of five years or more who can tolerate interim volatility. Those wanting a flexi cap equity allocation to complement a core of diversified mutual funds. It may not suit conservative investors, those who need capital within two to three years, or investors who prefer to spread risk across several strategies from the same house. Fees, Minimum Investment and Taxation The SEBI-mandated minimum investment for Stallion Asset PMS, as for any PMS, is ₹50 lakh, which can usually be funded in cash, existing listed securities or both, subject to the manager's acceptance. PMS fees typically follow a fixed-fee, performance-fee (charged above a hurdle, often with a high-water mark) or hybrid structure. The exact fee schedule, exit load and other charges are in the Disclosure Document. Securities are held in the investor's own demat account, so each sale is taxed in your hands: short-term capital gains on listed equity at 20% and long-term gains at 12.5% above the ₹1.25 lakh annual exemption. For a step-by-step explanation, 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 Stallion Asset stands out for its focus and its reported numbers: a 5-year return of 23.63% and a 3-year return of 32.70% as of 31 August 2026, achieved with a single strategy. Growth in AUM to ₹9,610.84 crore and 7,246 clients indicates strong investor interest. The flip side is key-person dependence, since the profile names one fund manager, and the capacity question that comes with rapid asset growth in a strategy that may own mid and small caps. Investors should also remember that strong recent returns raise expectations, and that past returns of this magnitude are difficult to repeat. A useful step is to compare the Core Fund with other large managers listed in our review of India's largest PMS players by AUM (/insights/pms-players-in-india-aum-vintage) , and to discuss fit and fee options with our PMS distribution desk (/products/pms) . Frequently Asked Questions Is Stallion Asset PMS good? Stallion Asset's Core Fund reported 23.63% over five years and 32.70% over three years as of 31 August 2026, which places it among the stronger reported track records in its category. Whether it is suitable for you depends on your risk appetite and horizon, and past performance does not guarantee future returns. What is the minimum investment in Stallion Asset PMS? The minimum investment in Stallion Asset PMS is ₹50 lakh, the floor mandated by SEBI for all portfolio management services. It can generally be funded with cash, eligible listed securities or a mix of both, subject to the manager's acceptance. Which is the best Stallion Asset PMS strategy? Stallion Asset offers only one investment approach, the Core Fund, a Multi Cap & Flexi Cap strategy running since October 2018. All clients are invested in this single strategy. Who manages Stallion Asset PMS? The Core Fund is managed by Amit Jeswani, who holds the CFA and CMT designations and has been investing in capital markets for 14 years. Is Stallion Asset PMS registered with SEBI? Yes. Stallion Asset Pvt Ltd is registered with SEBI as a portfolio manager under registration number INP000006129. SEBI registration confirms regulatory oversight but does not guarantee returns or imply endorsement of any strategy. 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) 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 Stallion Asset in 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.
