If you wish to invest Rs 10 lakhs, then a PMS cannot meet your requirement. This is because a PMS has a minimum commitment of Rs 50 lakhs.
Portfolio Management Schemes involve taking custody of your cash and managing it on your behalf. In addition to the a minimum investment limit of Rs 50 lakhs, there is also a three year lock-in and a power of attorney requirement.
One alternative to consider would be an Equity Advisory[1] run by a SEBI Registered Investment Advisor who would not take custody of your cash or units. There is no power of attorney involved here.
You would get advice to invest in a suitable set of equities. They may also be flexible on the minimum investment.
Go for someone with a strong founding team, one who is not a market place of third party products and one who will not share your private data.
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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://www.jamawealth.com
