Mutual Fund PMS vs direct mutual funds: Why the smarter option may not be the more expensive one

If you’re considering mutual fund portfolio management services (MF-PMS), ask three questions. First, can the manager show post-fee returns for his strategy versus a simple direct fund portfolio over the last 10 years? Second, how often does he rebalance, and what’s the post-tax cost? Third, does he have skin in the game on the downside, or is his profit share a one-way bet?