Turtle Wealth PMS Review: Quant Strategies, Returns & Fees (2026)
Last updated: 13 October 2026
Quick answer: Turtle Wealth PMS is a quantitative portfolio manager run by Turtle Wealth Management Pvt Ltd in Surat (SEBI registration INP000006758), led by CEO and Portfolio Manager Rohan Mehta. It reported ₹939.81 crore of AUM and 375 clients as of 31 July 2026 across three rules-based multi cap strategies. Profit Mantra reported 21.31% annualised over five years and Wealth Mantra 15.12%, as of 31 August 2026. The minimum investment is ₹50 lakh.
Last updated: 13 October 2026 Quick answer: Turtle Wealth PMS is a quantitative portfolio manager run by Turtle Wealth Management Pvt Ltd in Surat (SEBI registration INP000006758), led by CEO and Portfolio Manager Rohan Mehta. It reported ₹939.81 crore of AUM and 375 clients as of 31 July 2026 across three rules-based multi cap strategies. Profit Mantra reported 21.31% annualised over five years and Wealth Mantra 15.12%, as of 31 August 2026. The minimum investment is ₹50 lakh. Key takeaways Size: ₹939.81 crore of PMS assets across 375 clients and 3 approaches as of 31 July 2026. Quant style: Wealth Mantra, Growth Mantra and Profit Mantra are all multi and flexi cap strategies built on a rules-based, data-driven model. Track record: over three years all three reported 18.47% to 20.47% annualised, ahead of the S&P BSE 500 TRI (12.1%), as of 31 August 2026. Watch point: two-year returns of 5.49% to 7.50% show the models were hit in the 2024-26 correction, and the firm relies on a single portfolio manager. Costs and tax: ₹50 lakh minimum; reported returns are TWRR, net of fees but before your own capital gains tax. Turtle Wealth PMS is a quantitative portfolio management service run by Turtle Wealth Management Pvt Ltd from Surat, Gujarat. As of 31 July 2026, it reports PMS AUM of ₹939.81 crore, 375 clients and 3 investment approaches. All three strategies, Wealth Mantra, Growth Mantra and Profit Mantra, are classified as Multi Cap & Flexi Cap and are built on a rules-based, data-driven process. Strategy returns on the platform are reported as of 31 August 2026. Quick Facts: Turtle Wealth PMS Portfolio Manager Turtle Wealth Management Pvt Ltd SEBI Registration No. INP000006758 PMS AUM ₹939.81 crore (as on 31 July 2026) Number of Clients 375 Investment Approaches 3 Key People Rohan Mehta (CEO & Portfolio Manager) Registered Office Surat, Gujarat Minimum Investment ₹50 lakh (SEBI-mandated minimum for PMS) Fee structure Fees, any hurdle or high-water mark, exit charges and other terms are agreement-specific. Check the current Disclosure Document and Client Agreement before investing. About Turtle Wealth Turtle Wealth says its core purpose is to generate alpha through a quantitative investment approach, so that decisions are driven by data rather than human bias. It describes its team as unconventional but disciplined, and emphasises probity, discipline and transparency. Alongside portfolio management services, it offers other wealth management services to clients. The firm is led by Rohan Mehta , CEO and Portfolio Manager, who has 17 years of experience in equity markets and an MBA, with a specialisation in quant investing. He is also the author of a trading book, 212°: The Complete Trader . The profile names him as the sole portfolio manager. Quantitative investing uses predefined rules, for example on earnings growth, momentum, valuation or price behaviour, to select and weight stocks, and rebalances systematically. The benefit is consistency and the removal of emotional decision-making; the risk is that a model built on past data can struggle when market regimes change. Turtle Wealth PMS Strategies and Performance Strategy Category 1Y 2Y 3Y 5Y Inception Wealth Mantra Multi Cap & Flexi Cap 22.88% 7.50% 20.47% 15.12% Sep 2019 Growth Mantra Multi Cap & Flexi Cap 32.16% 5.49% 19.13% 12.16% Oct 2020 Profit Mantra Multi Cap & Flexi Cap 28.25% 5.56% 18.47% 21.31% Aug 2021 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. Wealth Mantra The oldest strategy, launched in September 2019. It reported 22.88% over one year, 7.50% over two years, 20.47% over three years and 15.12% over five years. Growth Mantra Launched in October 2020, it reported the highest 1-year figure in the line-up at 32.16%, with 5.49% over two years, 19.13% over three years and 12.16% over five years. As the name suggests, it may tilt its quant model towards growth factors, though the exact rules are not disclosed in the data. Profit Mantra Launched in August 2021, it reported 28.25% over one year, 5.56% over two years, 18.47% over three years and 21.31% over five years. Because the strategy's inception is August 2021, the 5-year figure covers almost its entire life and should be read with that in mind. A common pattern across all three is a strong recent year and a weak 2-year number, suggesting the models were hurt during the correction and then rebounded sharply. That kind of swing is typical of factor-driven portfolios. Table of Turtle Wealth PMS returns as of 31 August 2026: Wealth Mantra, Growth Mantra, Profit Mantra over 1, 2, 3 and 5 years against the S&P BSE 500 TRI Turtle Wealth PMS strategy returns vs reference indices (TWRR, as of 31 August 2026) How to Read These Numbers Compare each Turtle Wealth 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 Turtle Wealth PMS May Suit Investors who prefer a systematic, rules-based process over discretionary stock picking. Those comfortable with higher volatility and sharp swings in returns from year to year. Investors looking to diversify a portfolio of fundamental, discretionary managers with a quant style. Investors with a horizon of at least five years. It may not suit investors who want to understand the exact reasoning behind every stock, those uncomfortable with model risk, or anyone who would be unsettled by a weak two-year stretch like the one visible in the data. Fees, Minimum Investment and Taxation The SEBI-mandated minimum investment for Turtle Wealth 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 Turtle Wealth brings a clearly defined quant identity, three strategies with roughly five-to-seven year records and strong recent 1-year numbers. Profit Mantra's 21.31% and Wealth Mantra's 15.12% over five years are respectable headline figures. The things to watch are the volatility of outcomes, with 2-year returns between 5.49% and 7.50% across the line-up, the overlap between three strategies that share the same category, and dependence on a single portfolio manager. Investors should ask how the three differ in factors and holdings before choosing one. See how the house compares on our list of India's largest PMS players by AUM (/insights/pms-players-in-india-aum-vintage) , or contact our PMS distribution desk (/products/pms) for current factsheets. Frequently Asked Questions Is Turtle Wealth PMS good? Turtle Wealth's quant strategies reported 5-year returns between 12.16% and 21.31% and 1-year returns between 22.88% and 32.16% as of 31 August 2026, but 2-year returns were only 5.49% to 7.50%. It may suit investors comfortable with a systematic, volatile approach; suitability depends on your goals and horizon. What is the minimum investment in Turtle Wealth PMS? The minimum investment in Turtle Wealth 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 Turtle Wealth PMS strategy? It depends on what you are looking for. Wealth Mantra has the longest track record, from September 2019, while Profit Mantra reported the highest 5-year figure at 21.31% and Growth Mantra the highest 1-year figure at 32.16%, all as of 31 August 2026. Ask the manager how the three models differ. Who manages Turtle Wealth PMS? Turtle Wealth's strategies are managed by Rohan Mehta, CEO and Portfolio Manager, who has 17 years of equity market experience and specialises in quantitative investing. Is Turtle Wealth PMS registered with SEBI? Yes. Turtle Wealth Management Pvt Ltd is registered with SEBI as a portfolio manager under registration number INP000006758. SEBI registration confirms regulatory oversight but does not guarantee returns or imply endorsement of any strategy. Has Turtle Wealth PMS beaten its benchmark? Against the broad-market reference in this review, yes over three years: as of 31 August 2026 its three strategies reported 18.47% to 20.47% annualised, against 12.1% for the S&P BSE 500 TRI. Over five years Wealth Mantra (15.12%) and Growth Mantra (12.16%) were also ahead of the index (10.9%). Ask Turtle Wealth for the comparison with each strategy's official SEBI category benchmark. How do I invest in Turtle Wealth PMS? You complete KYC, read the Disclosure Document, sign the Client Agreement and fund the account with at least ₹50 lakh in cash or eligible securities, held in a demat account in your own name. SEBI requires portfolio managers to offer a direct option without distributor commission, so you can onboard with Turtle Wealth Management directly or through an APMI-registered distributor such as Money n Wealth (APRN-07444), which can help with comparisons and paperwork. 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) Vallum Capital PMS Review (/insights/vallum-capital-advisor-pms-review) Valentis Advisors PMS Review (/insights/valentis-advisors-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 Turtle Wealth in public disclosures as of 31 July 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.
Frequently Asked Questions
Is Turtle Wealth PMS good?
Turtle Wealth's quant strategies reported 5-year returns between 12.16% and 21.31% and 1-year returns between 22.88% and 32.16% as of 31 August 2026, but 2-year returns were only 5.49% to 7.50%. It may suit investors comfortable with a systematic, volatile approach; suitability depends on your goals and horizon.
What is the minimum investment in Turtle Wealth PMS?
The minimum investment in Turtle Wealth 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 Turtle Wealth PMS strategy?
It depends on what you are looking for. Wealth Mantra has the longest track record, from September 2019, while Profit Mantra reported the highest 5-year figure at 21.31% and Growth Mantra the highest 1-year figure at 32.16%, all as of 31 August 2026. Ask the manager how the three models differ.
Who manages Turtle Wealth PMS?
Turtle Wealth's strategies are managed by Rohan Mehta, CEO and Portfolio Manager, who has 17 years of equity market experience and specialises in quantitative investing.
Is Turtle Wealth PMS registered with SEBI?
Yes. Turtle Wealth Management Pvt Ltd is registered with SEBI as a portfolio manager under registration number INP000006758. SEBI registration confirms regulatory oversight but does not guarantee returns or imply endorsement of any strategy.
Has Turtle Wealth PMS beaten its benchmark?
Against the broad-market reference in this review, yes over three years: as of 31 August 2026 its three strategies reported 18.47% to 20.47% annualised, against 12.1% for the S&P BSE 500 TRI. Over five years Wealth Mantra (15.12%) and Growth Mantra (12.16%) were also ahead of the index (10.9%). Ask Turtle Wealth for the comparison with each strategy's official SEBI category benchmark.
How do I invest in Turtle Wealth PMS?
You complete KYC, read the Disclosure Document, sign the Client Agreement and fund the account with at least ₹50 lakh in cash or eligible securities, held in a demat account in your own name. SEBI requires portfolio managers to offer a direct option without distributor commission, so you can onboard with Turtle Wealth Management directly or through an APMI-registered distributor such as Money n Wealth (APRN-07444), which can help with comparisons and paperwork.
