Mutual funds are one of the best wealth creation tools available to Indians. Low cost. Professionally managed. Transparent. Tax efficient. They have quietly built more wealth for Indian households than almost any other product. But for someone with serious capital, picking the right schemes from 2,000 options is its own problem. This is where the PMS license becomes powerful. PMS guidelines let you build a selection and allocation layer on top of mutual funds. You get the simplicity and tax efficiency of MFs, with a professional manager curating the portfolio, rebalancing it, and deploying HNI capital with intent. Spoke with @jashkriplani at @livemint on how Mutual Fund PMS works and why it is gaining traction in Indian wealth creator circles. Lower churn. Better after tax returns. Real alignment through profit sharing and the high watermark principle. Worth a read if you are wondering how PMS of Mutual Funds work.