Valtrust PMS Review: Momentum & MF PMS Strategies, Returns (2026)
Valtrust PMS is offered by Valtrust Partners LLP, a SEBI-registered portfolio manager based in New Delhi. As of 31 August 2026, Valtrust reports PMS assets under management of ₹226.85 crore across 100 clients and three investment approaches: Valtrust Momentum, Equity Hybrid Funds and Equity Funds.
Two of the three are MF PMS approaches, which invest through mutual funds rather than direct stocks. All three launched in early 2023, so each has a three-year record.
Valtrust PMS is offered by Valtrust Partners LLP, a SEBI-registered portfolio manager based in New Delhi. As of 31 August 2026, Valtrust reports PMS assets under management of ₹226.85 crore across 100 clients and three investment approaches: Valtrust Momentum, Equity Hybrid Funds and Equity Funds. Two of the three are MF PMS approaches, which invest through mutual funds rather than direct stocks. All three launched in early 2023, so each has a three-year record. Key takeaways Valtrust PMS reports assets under management of ₹226.85 crore across 100 clients as of 31 August 2026. Investment approaches: 3 (Valtrust Momentum; Equity Hybrid Funds; Equity Funds). Highest 3-year return in the line-up: Equity Funds at 18.72% 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: Valtrust PMS Portfolio Manager Valtrust Partners LLP SEBI Registration No. INP100007578 PMS AUM ₹226.85 crore (as on 31 August 2026) Number of Clients 100 Investment Approaches 3 (Valtrust Momentum; Equity Hybrid Funds; Equity Funds) Key People Arihant Bardia (Founder, Designated Partner); Vishal Khatri (Principal Officer) Registered Office Saket, New Delhi Minimum Investment ₹50 lakh (SEBI-mandated minimum for PMS) About Valtrust Valtrust offers discretionary portfolio management, non-discretionary portfolio management and advisory services to institutions, HNIs and corporates, with strategies that can be standardised or customised to a client's goals and risk profile. Arihant Bardia , the founder and Designated Partner, has more than 20 years of experience. A Chartered Accountant, he began in audit at PwC, moved to M&A at EY, and ran Asiabridge Capital, a private equity fund, before founding Valtrust. He has written for publications including the Economic Times, Mint and Financial Express. Vishal Khatri , Principal Officer, has 12+ years in investment advisory and investment banking with boutique firms including Indcap Advisors, VT Investment Advisors and AFII Corporate Advisors, covering financial modelling, equity research and M&A due diligence. He holds a BBA and an MBA in Finance. Valtrust PMS Strategies and Performance Strategy Category 1Y 2Y 3Y 5Y Inception Valtrust Momentum Multi Cap & Flexi Cap 13.63% -2.54% 16.91% NA Jan 2023 Equity Hybrid Funds MF PMS 13.93% 8.22% 17.19% NA Mar 2023 Equity Funds MF PMS 18.15% 8.22% 18.72% NA Mar 2023 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. The Inception column shows the month the approach was launched. 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. Valtrust Momentum Launched in January 2023, this multi-cap strategy, as its name suggests, follows a momentum style, favouring stocks with strong recent price trends. It reports 13.63% (1Y), -2.54% (2Y) and 16.91% (3Y) as of 31 August 2026. Momentum strategies can do well in trending markets and struggle at turning points, which may explain the negative 2-year figure. Equity Funds (MF PMS) Launched in March 2023, this approach falls in the MF PMS category, meaning the portfolio is built from mutual fund units. Going by its name, it uses equity funds. It reports the highest 1-year and 3-year returns of the three: 18.15% (1Y), 8.22% (2Y) and 18.72% (3Y). Equity Hybrid Funds (MF PMS) Also launched in March 2023 as an MF PMS, this approach appears to use equity-oriented hybrid funds, which may cushion volatility relative to pure equity. It reports 13.93% (1Y), 8.22% (2Y) and 17.19% (3Y). How to Read These Numbers Valtrust's two MF PMS approaches both held 8.22% over 2 years, while the direct-equity Momentum strategy was negative at -2.54% for the same window, which covers much of the 2024–26 correction. For MF PMS, investors should also consider the layered cost: the mutual funds' own expense ratios sit underneath the PMS fee, so compare the net result with simply holding similar funds directly. Compare with the benchmark: each approach is mapped to a category benchmark under SEBI's December 2022 circular and APMI norms. A return figure on its own says little; the gap to that benchmark over the same period is what reveals manager skill. TWRR is not your return: Time-Weighted Rate of Return removes the effect of the timing of client inflows and outflows. An individual investor's money-weighted return depends on when they invested and can differ materially from the reported figure. Fees and taxes: under SEBI norms, PMS returns are reported net of fees and expenses, but taxes are not deducted because each investor's tax position is different. Capital gains tax on churn in your own account is an additional drag. Concentration risk: PMS portfolios usually hold fewer stocks than mutual funds, so returns can swing more sharply in either direction than a diversified fund. Who Valtrust PMS May Suit Investors who want professionally managed mutual fund portfolios with PMS-level customisation Those interested in a systematic momentum approach in direct equities HNIs and corporates seeking a mix of discretionary, non-discretionary or advisory arrangements Investors comfortable with a three-year record from a smaller boutique May not suit: investors who want a long multi-cycle track record, those unwilling to pay a PMS fee on top of mutual fund expenses, or anyone uneasy with momentum-driven volatility. Fees, Minimum Investment and Taxation The minimum investment in Valtrust PMS, as in every PMS in India, is ₹50 lakh, which can be brought in as cash, existing securities, or both. Transferred securities may be sold to align with the model portfolio, which can trigger capital gains in your hands. Typical structures are a fixed fee, a hybrid (lower fixed fee plus a profit share), or a performance fee charged only above a hurdle rate. The exact fee schedule, exit load and other charges are set out in the Disclosure Document, which investors should read before signing. Unlike a mutual fund, a PMS holds the shares directly in the investor's own demat account. Each sale by the manager is therefore taxed in the investor's hands: short-term capital gains on listed equity are taxed at 20%, and long-term gains at 12.5% above the annual ₹1.25 lakh exemption. Dividends are taxed at slab rates. 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 Valtrust offers an unusual combination: a direct-equity momentum strategy alongside two mutual-fund-based PMS approaches, with a founder whose background spans audit, M&A and private equity. All three strategies report 3-year annualised returns between 16.91% and 18.72% as of 31 August 2026. What to watch: the record is only three years, the client base of 100 is small, and the Momentum strategy's -2.54% over 2 years shows its sensitivity to market turns. For the MF PMS options, investors should weigh the extra cost layer. Our guide to PMS versus mutual funds (/insights/pms-vs-mutual-funds-1-crore-investors) is especially relevant here, and you can speak with our team (/contact) for the Disclosure Document. Frequently Asked Questions Is Valtrust PMS good? Valtrust's three strategies reported 3-year annualised returns of 16.91% to 18.72% as of 31 August 2026, though the Momentum strategy was negative over 2 years. Suitability depends on your goals, cost sensitivity and comfort with a three-year record. What is the minimum investment in Valtrust PMS? The minimum investment is ₹50 lakh, the floor SEBI mandates for all portfolio management services. It can be funded with cash, eligible listed securities, or a mix, subject to the manager's acceptance. Which is the best Valtrust PMS strategy? It depends on whether you want direct equity or a fund-based portfolio. Equity Funds (MF PMS) has reported the highest 1-year and 3-year returns; Valtrust Momentum has the earliest launch (January 2023) and is the only direct-equity option. Who manages Valtrust PMS? Valtrust PMS is run by Valtrust Partners LLP, founded by Arihant Bardia (Designated Partner), with Vishal Khatri as Principal Officer. Is Valtrust PMS registered with SEBI? Yes. Valtrust Partners LLP is registered with SEBI as a portfolio manager under registration number INP100007578. SEBI registration means the firm is regulated; it is not an endorsement of any strategy's returns. 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 Valtrust 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.