imecapital.in/blogs/why-us-persons-should-consider-investing-in-a-pms-instead-of-a-mf-or-aif/
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PMS (Portfolio Management Services) in India are NOT a pooled investment vehicle, since investments in equity/debt securities held in a PMS are held directly in the investors name and the PMS essentially acts as a Power of Attorney to execute trades on behalf of the investor.
Distributions are Taxed at the highest marginal tax-rate
it would not be considered as a PFIC from a US Taxation perspective
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