The country’s alternative investment industry, comprising Portfolio Management Services (PMS) and Alternative Investment Funds (AIFs), has witnessed remarkable growth in the last five years, outpacing traditional mutual funds, the latest revealed data by PMS Bazaar on Wednesday.
Over the past five years (from June FY19 to June FY24), the alternative investment industry has witnessed a Compound Annual Growth Rate (CAGR) of 26 per cent, with assets under management (AUM) reaching Rs 13.74 lakh crore as of June FY24, according to the data.
This growth rate is more than double that of the mutual fund industry, which recorded a CAGR of 13 per cent with an AUM of Rs 46.63 lakh crore as of August 2023.
The PMS Bazaar said that the surge in the alternative investment industry could be attributed to several factors such as rising income levels that have broadened accessibility to alternative investments, catering to a diverse range of High-Net-Worth Individuals (HNIs) and Ultra-High-Net-Wort
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