HNIs and family offices are moving towards multi-asset structured portfolios

According to Vasanth Kamath, founder and CEO of Smallcase, Indian investors are increasingly entering a more advanced phase of portfolio construction, where diversification across asset classes, themes and regions becomes fundamental.“This shift is also driving greater adoption of managed solutions across PMS, AIFs and model portfolios as investors look for discipline and clearer portfolio frameworks,” Kamath noted, highlighting the evolving mindset of investors seeking structured approaches.

The investment universe itself is expanding, offering more opportunities in listed equities through new IPOs, as well as in innovative products such as SIFs and global investments. “As this depth and choice increases, so does the complexity, increasing the importance of research analysts, advisors and portfolio managers in guiding allocation decisions and helping investors build portfolios designed to endure across cycles,” he added.

This growing preference for structured and efficient investing is also reflected in the investment fund sector, with assets under management showing steady growth. Within mutual funds, ETFs have notably outpaced the growth of broader funds, supported by exposures beyond traditional equities.

With 2026 on the horizon, Indian investors are clearly prioritizing discipline, diversification and professional guidance, signaling a shift towards more resilient, cycle-resistant portfolios.