Association of Portfolio Managers in India

What Association of Portfolio Managers in India does

The Association of Portfolio Managers in India (APMI) is the designated non-profit industry body for SEBI-registered Portfolio Managers, incorporated on 31st December 2021 under Section 8 of the Companies Act 2013. Headquartered in Mumbai's Bandra Kurla Complex with a 16-person operating team, APMI serves as the unified interface between PMS firms and the Securities and Exchange Board of India, addressing the long-standing need for a single industry voice with the regulator. Its board is composed of senior representatives from leading PMS operators including Abakkus Asset Manager, Ambit Investment Advisors, ASK Investment Managers, Carnelian Asset Management, Dezerv Investments, Vallum Capital, Stalwart Investment Advisors, and Sameeksha Capital, indicating a member-governed structure spanning the industry's largest AUM holders.

APMI operates a portfolio of digital platforms and services for its members, including the APMI Insights Dashboard for industry-level AUM and performance analytics, IA Performance/Turnover/Comparison/Consolidated reporting utilities, the Compliance Sutra calendar and process documentation system, the Distributor Registration portal with NISM certification and APRN tracking, and integration with SEBI's PARAS (Performance Assessment, Recognition, and Analytics System) portal. The organization also publishes a monthly PMS Industry Compendium, disseminates SEBI circulars and compliance guidance, runs training capsules in collaboration with NISM, and hosts the APMI Conference 2026 in Ahmedabad. Revenue is generated exclusively through annual membership fees structured across five AUM-based slabs, ranging from Rs. 15,000 (AUM up to Rs. 100 Crores) to Rs. 10,00,000 (AUM above Rs. 3,000 Crores), plus 18% GST, and no parent company or external investment is reported.

Strategically, APMI has secured an expanding quasi-regulatory role, most notably through a SEBI circular dated 2nd May 2024 designating it as the collective oversight body for PMS distributors. As a non-profit funded solely by membership fees, the entity's growth is tied to PMS industry AUM expansion and incremental mandates rather than commercial revenue capture.

Name

Association of Portfolio Managers in India

Legal name

Association of Portfolio Managers in India

Website

https://apmiindia.org

Company type

Private

Founded year

2021

Operating status

Operating

Headcount range

11–50 employees

Short description

APMI is the Section 8 non-profit industry association for SEBI-registered Portfolio Managers in India, providing regulatory advocacy, compliance tools, performance analytics platforms, and distributor oversight services funded by AUM-tiered annual membership fees.

Ownership category

akta.pro rank

Headquarters

HQ city

Mumbai

HQ country

India

HQ region

Asia

Offices1 record

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Operations, Technology or R&D, Marketing or Sales, Infrastructure, Others

Revenue model

1. Membership Fees: APMI generates revenue through annual membership fees from SEBI Registered Portfolio Managers. Membership fees are structured in 5 AUM slabs ranging from Rs. 10,00,000 for AUM over Rs. 3000 Crores to Rs. 15,000 for AUM up to Rs. 100 Crores. GST @ 18% is levied on membership fee. APMI has been incorporated as a non-profit company under Section 8 of the Companies Act 2013.

Pricing tiers

Distribution channels2 records

Marketing channels5 records

Core offering

APMI is the designated industry association for SEBI-registered Portfolio Managers in India, offering tiered annual memberships (structured in five AUM slabs from Rs. 15,000 to Rs. 10,00,000 plus GST), regulatory advocacy and unified interfacing with SEBI, and a suite of member-only digital platforms including the APMI Insights Dashboard, IA Performance/Turnover/Comparison Reports, the monthly PMS Industry Compendium, the Compliance Sutra regulatory calendar, the Distributor Registration System, and the Member Portal. The organization also delivers training capsules, conferences, and circulars supporting compliance, best practices, and industry-wide standards.

Product overview

APMI operates as an industry body and self-regulatory organization for SEBI-registered Portfolio Managers in India. The organization provides a suite of digital platforms and reporting tools including the APMI Insights Dashboard for industry analytics, IA Performance Report and IA Turnover Report utilities for investment advisor performance tracking, Consolidated IA Performance Report for aggregated market views, and the PMS Industry Compendium for monthly industry research. Additional platforms include the Compliance Sutra for regulatory calendar management, Distributor Registration System for NISM certification and APRN tracking, PARAS Portal integration for SEBI assessment, and Offsite Inspection Data Submission System for regulatory reporting. APMI also maintains member portals for circulars, guidelines, and survey submissions, with membership structured across five AUM-based slabs ranging from Rs. 15,000 to Rs. 10,00,000 annually.

Differentiator

Problem solved

Functional benefit

Products and services

• APMI Insights Dashboard Centralized analytics dashboard providing industry-level analytics, AUM data, and performance metrics for SEBI-regulated portfolio managers, accessible via insights.apmiindia.org.
• IA Performance Report Interactive reporting tool enabling comparison of Investment Advisor performance across strategies, benchmarks, and time periods with filtering by service type, asset class, and provider.
• IA Turnover Report Reporting utility displaying investment approach-wise turnover data including monthly and annual turnover metrics for portfolio managers.
• IA Comparison Report Tool for comparing performance and metrics across different Investment Advisors and their strategies.
• Consolidated IA Performance Report Aggregated performance reporting combining data from multiple Investment Advisors for consolidated industry view.
• PMS Industry Compendium Monthly industry compendium providing comprehensive data and analysis on Portfolio Management Services industry including AUM, client counts, and market trends.
• Compliance Sutra Compliance calendar and tracking system providing monthly compliance calendars and process documentation for regulatory adherence, available to APMI members.
• Distributor Registration System Portal for onboarding and registering PMS distributors including NISM certification management and APRN code tracking, facilitating collective oversight of distributors.
• Offsite Inspection Data Submission System System for submitting offsite inspection and surveillance data to SEBI with XML template support and automated validation.
• Member Portal Authenticated portal for APMI members providing access to circulars, guidelines, compliance tools, survey submissions, and member-specific resources.
• APMI Membership Registration Registration system for SEBI-registered Portfolio Managers to become APMI members, with tiered AUM-based membership slabs ranging from Rs. 15,000 to Rs. 10,00,000 annually plus 18% GST.

Segments1 record

Ideal customer profiles2 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Partnerships

One partnership is on record.

• Securities and Exchange Board of India (SEBI)coreStrategic or Co-development PartnerSEBI is the primary regulator of Portfolio Managers in India. APMI serves as the unified interface between SEBI and SEBI registered Portfolio Managers, facilitating regulatory compliance, disseminating SEBI circulars, and representing industry interests to the regulator.

Scale indicators1 record

Recent moves7 records

Expansion highlights5 records

Broad incumbents

• Associated Chambers of Commerce and Industry of India (ASSOCHAM): One of India's apex industry chambers representing multiple sectors including financial services. Comparable to APMI as a broad-based business association interfacing with government and regulators, but operating at much wider sectoral scope than APMI's PMS-specific mandate.
• Investment Association (UK): The UK trade body representing investment managers, providing policy advocacy, industry data, and member services. Functionally analogous to APMI as a developed-market industry association for asset/portfolio managers, though at a much larger scale and broader remit.
• Confederation of Indian Industry (CII): CII is a leading industry confederation engaging with policy makers on behalf of Indian businesses across sectors, including financial services. Comparable to APMI in its role as a policy advocate and convening body, though it serves a much broader cross-industry membership base.
• Investment Company Institute (ICI): The leading association representing regulated investment funds globally, including US mutual funds and ETFs. Comparable to APMI in serving as the industry's regulatory interface, data publisher, and standards body, but at significantly larger scale and global scope.

Direct peers

• Association of Mutual Funds in India (AMFI): AMFI is the designated industry body for SEBI-registered mutual funds in India, performing the same representative, regulatory interface, and standard-setting function for mutual fund AMCs that APMI performs for portfolio managers. Directly comparable in mandate, governance structure, and member fee model.
• Fixed Income Money Market and Derivatives Association of India (FIMMDA): FIMMDA is the primary industry association for primary dealers, bond market participants, and fixed income intermediaries in India, comparable to APMI in acting as the unified voice with regulators (RBI/SEBI) and setting market conventions.
• BSE Brokers Forum: An industry association representing stock brokers registered with SEBI, providing a collective voice with the regulator and offering member services like training and policy advocacy. Comparable to APMI as a SEBI-regulated financial intermediary industry body in India.

Emerging players

• Alternative Investment Management Association (AIMA): Global representative body for the hedge fund and alternative investment industry, with a strong India presence. Comparable to APMI in providing standards, advocacy, and member services for alternative investment managers, partially overlapping with portfolio management in discretionary mandates.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Customer concentration

• LinkedInlinkedin.com/company/apmi-india

Revenue estimate

Valuation estimate

Number of profiles

Profiles12 records

Funding overview

Funding rounds

Investors

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M&A

Investments

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