Your amount invested (capital in) is simply the money you transferred into the PMS (e.g., ₹50 lakhs). The purchase value / holding cost, however, is different—it represents the total cost of the securities currently held in your portfolio, based on their acquisition prices. Since portfolios typically see buying and selling over time, this purchase value can change as older holdings are sold and new ones are bought.

A simple example: if you invest ₹50 lakhs, the portfolio rises to ₹70 lakhs, and the manager sells some holdings (realising gains) and reinvests into new stocks, the cost of the current holdings could be ₹70 lakhs—even though your original investment was ₹50 lakhs—because you’re now holding securities purchased using both your original capital and the gains that were generated and reinvested. Similarly, if some positions are sold at a loss and reinvested, the purchase value of the current holdings could be lower than the original capital.

This is standard across PMS reporting because the purpose of “purchase value” is to help you compare what your current holdings cost versus what they are worth today (market value). Your original invested amount remains unchanged as a “capital in” figure, while purchase value reflects the evolving cost base of the portfolio you currently own.