No form. No funnel. A direct line.
At this scale the problems change shape: mandate design, multi-entity structure, consolidation across managers, generational governance. This page explains the work and how we are paid, then gets out of the way.
The breakdown, in four numbers.
Most families at this scale did everything right, one decision at a time. The problem is what the decisions add up to when nobody is holding the whole picture.
Six lines of work. Nothing else.
This is the whole engagement. If something you need is not on this list, we will say so on the first call and point you to whoever does it properly.
Mandate & IPS design
A written investment policy: objectives, limits, exclusions, liquidity, and who decides what. The document every later decision answers to.
Manager selection
Managers screened against your mandate, not against last year's league table. You sit with the people actually running the money, not a sales team.
Multi-entity structuring
Individual, HUF, private trust, LLP, GIFT City vehicle. We coordinate with your counsel and CA so the structure serves the family; we do not draft around them.
Consolidated reporting
One monthly statement across every entity and every manager, with look-through exposure to each stock, sector and currency.
Investment-committee support
Quarterly packs, independent analysis, and minuted decisions. The committee runs on evidence, not on whoever spoke last.
Succession onboarding
A structured handover while the founder is present, so the next generation inherits a working system, not a filing cabinet.
Read this before you call.
We are a distributor registered with APMI (APRN08358). Portfolio managers pay us a share of their fee; families do not pay us. That model carries real conflicts, so here they are, printed next to the controls.
- 01
We earn more when you allocate, and nothing when you hold cash.
- 02
Trail rates differ between managers, so our economics are not neutral across your shortlist.
- 03
We earn nothing when the right answer is to hold steady, which is often the right answer.
- 01
The rate on every strategy is disclosed to you before you commit, per strategy, in writing.
- 02
The direct-onboarding alternative (going to the manager without us) is offered every time.
- 03
Switching costs are put in writing next to the claimed benefits before any move is recommended.
- 04
Your agreement is with the portfolio manager, never with us. We hold nothing of yours.
Five statements are not a portfolio.
Each manager reports their own sleeve honestly and completely. Nobody reports the family. These are the questions only a consolidated view can answer.
| The question | One manager's statement | The consolidated view |
|---|---|---|
| Equity weighting | Their sleeve only | Across every entity and manager |
| Single-stock concentration | Invisible when three managers each hold 4% | Summed, look-through, per stock |
| Performance vs benchmark | Their strategy vs their chosen index | Family-level return vs one policy benchmark |
| Tax position | Realised gains in that account | Family-wide STCG and LTCG, entity by entity |
| Total fees | Their fee line | Every fee, every manager, one number |
On the mainland, realised gains carry 20% short-term and 12.5% long-term tax above the ₹1.25 lakh exemption, per entity. Without the consolidated view, nobody in the family knows the year's position until filing season. Confirm specifics with your tax adviser.
The entity question.
PMS eligibility, tax character and succession mechanics differ by vehicle. Bring this to your counsel, not to a sales meeting.
| Vehicle | PMS eligibility | Tax character | Succession mechanics | Typical use |
|---|---|---|---|---|
| Individual | Eligible, ₹50 lakh minimum | Gains taxed in your hands: 20% STCG, 12.5% LTCG above the ₹1.25 lakh exemption | Will or intestate succession; probate can freeze assets | The founder's personal book |
| HUF | Eligible, karta as signatory | Separate taxable entity with its own slabs and exemptions | Continues by survivorship; partition is its own project | Legacy family capital already pooled |
| Private Trust | Eligible, trustee acts for the trust | Depends on the deed: determinate vs discretionary changes everything | Bypasses probate; the deed governs control across generations | Ring-fencing and generational transfer |
| LLP | Depends on the manager and the LLP agreement | Taxed at the entity level; partner shares set by the deed | The partnership deed governs admission and exit | Promoter holding and operating capital |
| GIFT City vehicle | Access to IFSC funds; residency rules apply | Depends on residency and the treaty position, never a flat claim | Governed by the vehicle's own constitution | The global arm, resident and NRI branches alike |
This table is a set of questions, not an answer. Structure follows your counsel's advice; we coordinate with them, we do not replace them.
A calendar, not a promise.
Governance is what actually happens on a schedule. This is the schedule.
Consolidated statement
Cross-entity holdings and exposures, plus an exceptions note: what moved, what breached a limit, what needs a decision.
IC pack and minuted decisions
Performance against the policy benchmark, manager attribution, and every decision recorded with its reasoning.
Manager reviews and fee audit
Each manager measured against the mandate that hired them, and a line-by-line check of every fee actually charged.
IPS ratification and full attribution
The policy re-signed or amended by the committee, with a full-year attribution of what worked and why.
Events
Manager exits, key-person changes, regulatory shifts, liquidity events. Raised when they happen, not at the next meeting.
The handover.
Wealth survives a generation when the next one inherits the reasoning, not just the assets. Four stages, run while the founder is present.
The walkthrough
The successor sits through the full portfolio, entity by entity, manager by manager, with nothing simplified away.
Governance training
The IPS explained clause by clause: why each limit exists and what it protects the family from.
Statement literacy
Reading a factsheet, an attribution table and a fee schedule without needing anyone else in the room.
A standing seat
A permanent chair at the quarterly table, taken while the founder is still present to disagree.
What we will not do.
A service defined only by what it offers is a pitch. These lines hold whether or not anyone is watching.
Promise or imply returns, in any format, to anyone.
Take discretion over your portfolio or custody of your assets.
Publicly solicit any specific AIF.
Recommend a move without the switching-cost analysis beside it.
Obscure what we are paid, by whom, or on which strategy.
Route you to junior staff. The person you meet is the person you keep.
One conversation. No form, ever.
Nothing is required before the call. Recent statements and an entity map help if you have them, but the first conversation is about the family, not the paperwork.
Direct contact only. There is no lead capture on this page and nothing here asks for your details before a human answers.
Nyra has read every factsheet your managers publish.
Every SEBI-registered strategy scored on the same 0 to 10 basis, with every answer citing its source. Useful homework before an IC meeting.
What families ask first.
Alongside it, not instead of it. Your team keeps control of decisions and custody; we bring manager access, screening against the mandate, and the consolidated view. Most engagements start with the reporting problem, because it is the one job nobody inside the family wants to build from scratch.
If this is not your page.
PMS Sahi Hai (Nyra Capital Partners Consultancy Pvt Limited) is an APMI-registered distributor (APRN08358), not a SEBI-registered Investment Adviser. We are remunerated by portfolio managers, and this is disclosed per strategy before any commitment. We hold no discretion over and no custody of client assets. AIFs are offered by private placement only and nothing on this page is a public solicitation of any specific AIF. Investments in PMS, AIF and GIFT City products are subject to market risk; past performance does not indicate future returns, and no returns are assured. Nothing here is investment, legal or tax advice; confirm specifics with your own advisers.