A PMS, or Portfolio Management Service, is a service which you can use to save and invest money. PMSes can be of many types and have many strategies. Typically, a PMS manager will manage a bank and demat account for our Non-Resident Indian (NRI) investors (in your name) through which you will be able to invest funds. PMSes are regulated entities and must have a license from the Securities and Exchange Board of India (SEBI).