Well, there are many, but here are the two main differences:

Personalised Attention:
Most importantly, portfolio management services (PMS) are structured around personal financial situations and goals. A mutual fund offers growth too, but the fund does not pay attention to individual investor situations and goals.

Customization :
Considering the inherent personal nature of PMS, an individual’s portfolio can be customized to evolve with the ever changing market and fulfil personal goals. Whereas, a mutual fund is structured to meet the stated objectives of the fund.

Well, the answer is plainly no. Apart from liquid cash, assets like current portfolio of stocks, bonds and mutual funds can be handed over for management.

When an investor has entrusted their money to a PMS, they can expect:

• Attention to personal financial conditions and goals.
• Personalized financial plans, investment plans and retirement plans keeping current financial condition in mind.
• Continuous interaction with portfolio manager to stay updated with market conditions and investment philosophy driving the portfolio.
• All administrative matters to be handled by the Portfolio Manager.