Neither of them may be the better one for you, assuming you are not comfortable with giving away custody of your cash / units, or signing a Power of Attorney.
A Mutual Fund is a great way to invest with smaller amounts of money. A PMS has higher limit of Rs 50 lakhs which may be too high for many. Even for investors with higher sums of money available, committing 50L in one go may be a problem especially because there is usually a 3 year lock-in.
You may want to consider an RIA Equity Advisory [1]which can give you transparency and better control on your hard earned money.
For a detailed comparison, see this infographic:
Also read more in this answer.
Disclaimer:
I am a SEBI Registered Investment Advisor, however the answers here should not be considered as investment advice. Please contact me via the information shown in the profile for any investment advice related to direct equities or other investments.
Footnotes[1] http://jamawealth.com
