IIFL Emerging Companies PMS
Return (3Y)
19.4% p.a.
Fund Type
Non-Discretionary PMS
As on
March 2026
Benchmark
BSE Midcap 150 TRI
Inception Date
June 2011
Min. Investment
₹50 Lakhs
AUM
₹5,200 Cr
Fund Manager
Anup Maheshwari
Chief Investment Officer, IIFL Asset Management
25+ years across mutual funds, PMS & alternatives; IIM Ahmedabad; Chartered Accountant
Anup Maheshwari is a veteran Indian equity fund manager with over 25 years of experience. He previously served as CIO–Equities at DSP Investment Managers and has managed mid-cap strategies with consistent long-term track records across multiple market cycles. He oversees IIFL AMC's entire investment platform including PMS, AIF, and proprietary strategies.
Investment Approach vs Benchmark
Unlike a passive midcap tracker, IIFL's Non-Discretionary PMS empowers sophisticated investors to co-create their portfolios. Each trade recommendation arrives with a detailed research note — enabling investors to validate the thesis before approving execution. This model is ideal for investors who want expert guidance while maintaining full authority over their own capital.
Investment Philosophy
Informed Investor Empowerment
IIFL's Non-Discretionary PMS is built on the conviction that sophisticated investors deserve full transparency and control. The research team provides detailed investment theses — but the investor retains the final decision on each trade, creating a genuine partnership where institutional-grade expertise meets investor accountability.
Primary Research
Every recommendation backed by direct management engagement, supply chain checks, and scenario-based earnings models before any presentation to the investor.
Investor Veto
Client retains full authority to reject any individual trade recommendation without affecting the rest of the portfolio or their ongoing IIFL relationship.
Transparency First
Detailed research notes accompany every trade idea: bull/base/bear cases, key risks, position sizing rationale, and estimated holding horizon.
Mid-Small Cap Alpha
India's mid and small cap segment offers superior earnings growth and underfollowed names — consistent alpha opportunities unavailable in large-cap strategies.
Strategy Information
The strategy maintains 25–40 stocks with a mid-small cap bias. Recommendations are presented weekly with full investment notes. Clients interact with a dedicated relationship manager and have direct access to the fund management team for quarterly strategy reviews.
Portfolio Size
25–40 stocks
Market Cap Focus
Mid Cap + Small Cap (60–80%)
Typical Holding Horizon
12–36 months
Trade Frequency
5–8 recommendations per quarter
Client Reviews
Quarterly portfolio reviews + monthly reports
Risk Limits
Max 8% single stock; 30% single sector
Fund Details
SEBI PMS Registration
INP000002213
Strategy Classification
Non-Discretionary – Equity
Holdings Range
25–40 stocks
Management Fee
2.0% p.a. on AUM
Performance Fee
20% above 8% hurdle (high water mark)
Exit Load
1% within 12 months; Nil thereafter
Custodian
Kotak Mahindra Bank
Tax Treatment
Pass-through — STCG 20%, LTCG 12.5%
Reporting
Monthly + on-demand real-time access
Interested in this fund?
Speak with our institutional advisory team for eligibility, documentation, and onboarding.