FindPMS IndiaBest Debt PMS in India
Updated October 2026 · Data from SEBI PMS disclosures · 20 schemes
Debt PMS schemes invest in fixed-income securities - government bonds, corporate bonds, and commercial paper - and target stable, lower-volatility returns. They suit investors who want predictable income or a conservative allocation within a broader HNI portfolio.
We rank debt PMS by 3-year return because debt strategies take longer to show their edge and shorter periods can be distorted by interest rate moves. Schemes need at least ₹10 Cr AUM and 3 years of disclosure history to appear on this list.
Remember that since April 2023, debt PMS gains are taxed at your income-tax slab rate, not LTCG. Factor that into net returns before comparing.
| # | Scheme | Category | AUM | 1Y | 3Y | 3Y return ↓ |
|---|---|---|---|---|---|---|
| 1 | Maximal Income Fund Maximal Capital Private Limited | Debt | ₹52 Cr | +10.9% | +18.5% | +18.5% |
| 2 | BESPOKEDebt True Beacon Investment Advisors Llp | Debt | ₹114 Cr | +21.3% | +16.1% | +16.1% |
| 3 | Phillip Income Builder Portfolio Growth Phillipcapital (India) Pvt Ltd | Debt | ₹265 Cr | +10.3% | +13.6% | +13.6% |
| 4 | dezerv. Dynamic Debt Plus Strategy Dezerv Investments Private Limited | Debt | ₹1.8K Cr | +10.5% | +11.6% | +11.6% |
| 5 | Master Trust iRage Absolute Return Strategy Master Portfolio Services Limited | Debt | ₹60 Cr | +6.9% | +11.0% | +11.0% |
| 6 | dezerv. Dynamic Debt Strategy Dezerv Investments Private Limited | Debt | ₹292 Cr | +9.9% | +10.4% | +10.4% |
| 7 | Harmony Income Opportunities Discretionary Debt PMS Ask Wealth Advisors Private Limited | Debt | ₹23 Cr | +9.6% | +9.7% | +9.7% |
| 8 | FCI LLP Wealth Optimizer Fractal Capital Investments Llp | Debt | ₹11 Cr | +8.9% | +9.2% | +9.2% |
| 9 | HIGH YIELD STRATEGY Unifi Capital P Ltd | Debt | ₹364 Cr | +8.6% | +9.2% | +9.2% |
| 10 | DB India Flexi Bond Mandate/ DIIPL Discretionary India Flexi Bond Mandate Deutsche Investments India Private Limited | Debt | ₹29 Cr | +7.8% | +8.6% | +8.6% |
| 11 | Sterling Portfolio- Conservative Portfolio ICICI Securities Limited | Debt | ₹12 Cr | +3.7% | +8.6% | +8.6% |
| 12 | Barclays Discretionary Dynamic Fixed Income Barclays Securities (India) Private Limited | Debt | ₹143 Cr | +9.1% | +8.5% | +8.5% |
| 13 | DPMS - Income Portfolio Klay Securities Private Limited | Debt | ₹24 Cr | +7.7% | +8.3% | +8.3% |
| 14 | Nuvama Absolute Return Strategy Nuvama Asset Management Limited | Debt | ₹175 Cr | -0.2% | +7.8% | +7.8% |
| 15 | dezerv. Fixed-Income Strategy Dezerv Investments Private Limited | Debt | ₹169 Cr | +5.6% | +7.6% | +7.6% |
| 16 | PMS Services to PF and Institutional Treasuries (Debt) SBI Funds Management Limited | Debt | ₹452 Cr | +7.5% | +7.5% | +7.5% |
| 17 | Sterling Portfolio- Risk Averse Portfolio ICICI Securities Limited | Debt | ₹14 Cr | +5.9% | +7.2% | +7.2% |
| 18 | Strategic Debt (Long term) Capitalmind Financial Services Private Limited | Debt | ₹46 Cr | +6.5% | +7.2% | +7.2% |
| 19 | TATA PMS - RETIREMENT FUND Tata Asset Management Private Limited | Debt | ₹3.5K Cr | +3.0% | +7.0% | +7.0% |
| 20 | LIQUID PORTFOLIO NJ Asset Management Private Limited | Debt | ₹17 Cr | +5.9% | +6.6% | +6.6% |
#1
Maximal Income Fund
Maximal Capital Private Limited
Debt₹52 Cr
1Y +10.9%
3Y +18.5%
3Y return +18.5%
#2
BESPOKEDebt
True Beacon Investment Advisors Llp
Debt₹114 Cr
1Y +21.3%
3Y +16.1%
3Y return +16.1%
#3
Phillip Income Builder Portfolio Growth
Phillipcapital (India) Pvt Ltd
Debt₹265 Cr
1Y +10.3%
3Y +13.6%
3Y return +13.6%
#4
dezerv. Dynamic Debt Plus Strategy
Dezerv Investments Private Limited
Debt₹1.8K Cr
1Y +10.5%
3Y +11.6%
3Y return +11.6%
#5
Master Trust iRage Absolute Return Strategy
Master Portfolio Services Limited
Debt₹60 Cr
1Y +6.9%
3Y +11.0%
3Y return +11.0%
#6
dezerv. Dynamic Debt Strategy
Dezerv Investments Private Limited
Debt₹292 Cr
1Y +9.9%
3Y +10.4%
3Y return +10.4%
#7
Harmony Income Opportunities Discretionary Debt PMS
Ask Wealth Advisors Private Limited
Debt₹23 Cr
1Y +9.6%
3Y +9.7%
3Y return +9.7%
#8
FCI LLP Wealth Optimizer
Fractal Capital Investments Llp
Debt₹11 Cr
1Y +8.9%
3Y +9.2%
3Y return +9.2%
#9
HIGH YIELD STRATEGY
Unifi Capital P Ltd
Debt₹364 Cr
1Y +8.6%
3Y +9.2%
3Y return +9.2%
#10
DB India Flexi Bond Mandate/ DIIPL Discretionary India Flexi Bond Mandate
Deutsche Investments India Private Limited
Debt₹29 Cr
1Y +7.8%
3Y +8.6%
3Y return +8.6%
#11
Sterling Portfolio- Conservative Portfolio
ICICI Securities Limited
Debt₹12 Cr
1Y +3.7%
3Y +8.6%
3Y return +8.6%
#12
Barclays Discretionary Dynamic Fixed Income
Barclays Securities (India) Private Limited
Debt₹143 Cr
1Y +9.1%
3Y +8.5%
3Y return +8.5%
#13
DPMS - Income Portfolio
Klay Securities Private Limited
Debt₹24 Cr
1Y +7.7%
3Y +8.3%
3Y return +8.3%
#14
Nuvama Absolute Return Strategy
Nuvama Asset Management Limited
Debt₹175 Cr
1Y -0.2%
3Y +7.8%
3Y return +7.8%
#15
dezerv. Fixed-Income Strategy
Dezerv Investments Private Limited
Debt₹169 Cr
1Y +5.6%
3Y +7.6%
3Y return +7.6%
#16
PMS Services to PF and Institutional Treasuries (Debt)
SBI Funds Management Limited
Debt₹452 Cr
1Y +7.5%
3Y +7.5%
3Y return +7.5%
#17
Sterling Portfolio- Risk Averse Portfolio
ICICI Securities Limited
Debt₹14 Cr
1Y +5.9%
3Y +7.2%
3Y return +7.2%
#18
Strategic Debt (Long term)
Capitalmind Financial Services Private Limited
Debt₹46 Cr
1Y +6.5%
3Y +7.2%
3Y return +7.2%
#19
TATA PMS - RETIREMENT FUND
Tata Asset Management Private Limited
Debt₹3.5K Cr
1Y +3.0%
3Y +7.0%
3Y return +7.0%
#20
LIQUID PORTFOLIO
NJ Asset Management Private Limited
Debt₹17 Cr
1Y +5.9%
3Y +6.6%
3Y return +6.6%
What next?
Shortlist 2-5 schemes from this list and put them side-by-side on the Compare tool. Or get a personalised shortlist matched to your capital and risk profile.
Other best-of lists
Past performance is not indicative of future results. This ranking reflects public SEBI disclosures and is not an endorsement of any scheme. Consult a SEBI-registered investment adviser before investing.