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EPFO funds, not rich folks, fuel PMS assets

Mint Chennai

August 16, 2025

Pension savings of millions of Indians have turbocharged the assets of portfolio management services (PMS), often seen as the preserve of India's well-heeled.

- Srushti Vaidya

The reasons: A rule that binds the retirement fund manager to invest via PMS, and higher tax and compliance burdens that dampen the enthusiasm of rich individuals.

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