Green Portfolio The Green Ethical Fund (Shariah PMS)
Halal Investing in Uttarakhand
Green Portfolio's Shariah-compliant discretionary PMS (SEBI Portfolio Manager INP000006022), marketed jointly with Islamicly under 'Shariah Certified PMS' branding on a co-branded page (greenportfoliopms.islamicly.com). Minimum investment is the SEBI floor of INR 50 lakhs, with a printed '0% fixed fees and pay only for performance' option. The strategy focuses on under-the-radar manufacturing-oriented companies (average portfolio market cap around INR 12,000 crores per the co-branded page), holds minimal banking and IT exposure by design, and rebalances in coordination with Islamicly's live compliance data. Third-party PMS databases date the fund's inception to 27 June 2024. Custody is segregated: funds sit with a SEBI-mandated custodian in the client's name, never in Green Portfolio's own account.
The Green Ethical Fund is the performance-hungry pick of India's small Shariah PMS field. The pricing (zero fixed fee) and the live Islamicly compliance feed are genuinely differentiated, and administered purification notifications are something neither Geojit nor SenSage print. The trade-offs mirror its strengths: a young mandate, a concentrated small/midcap manufacturing style that will not suit conservative money, and certification that rests on a screening platform rather than a named fatwa bench. Pair-compare with Geojit's TASIS-certified PMS at the same INR 50 lakh gate.
Pros
- Performance-only fee option is rare among Indian PMS providers
- Live compliance monitoring beats annual-recheck certification models
- Low-banking-exposure style naturally fits Shariah screens
- Dividend purification notifications administered, not left to the investor
Cons
- No named scholars behind the Islamicly certification on the page
- Short track record (inception mid-2024) for the Shariah mandate
- Green Portfolio's wider shelf is conventional; halal is one theme among many
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Product Details
Type
Portfolio Management Service
Min Investment
INR 50,00,000
Screening Method
Islamicly database screening with ongoing monitoring; non-compliant stocks exited at rebalance; dividend purification notifications issued
Green Portfolio in Uttarakhand
Green Portfolio's The Green Ethical Fund (Shariah PMS) is accessible to investors in Uttarakhand, structured as Islamicly-monitored manufacturing-tilt PMS: India's halal investing shelf is digital, so region matters less than fees, minimums, and who certifies the screening. Minimum investment: INR 50,00,000. Green Portfolio operates across India, so Uttarakhand residents have full access to this product.
Our Take on Green Portfolio
Green Portfolio brings PMS-grade research to Shariah investors through an outsourced compliance model: Islamicly's database does the screening and surveillance while Green Portfolio picks stocks inside the compliant universe. The result is the best administered purification and the most flexible pricing (performance-only PMS fees, flat smallcase subscriptions) in the cluster. The governance shape is the caveat: certification rests on a screening platform, not a named scholar bench, and the firm's wider shelf is conventional.
How Green Portfolio Works
Pick your wrapper
INR 50 lakh plus goes to the Green Ethical Fund PMS; retail money subscribes to the Green Ethical Portfolio smallcase.
Onboard
PMS clients sign custodian and POA documentation (NRE/NRO route for NRIs); smallcase subscribers connect their existing broker.
Hold screened stocks
15 to 20 flexi-cap names (smallcase) or the PMS book, all inside Islamicly's compliant universe.
Follow rebalances and purification notices
Apply rebalance updates; donate the notified impure dividend portion to charity.
Financing Structure
Two delivery wrappers around one screened universe: a discretionary PMS (SEBI Portfolio Managers Regulations 2020, custodian-held client assets, INR 50 lakh floor) and a Research Analyst model portfolio on smallcase (investor executes in their own broker and demat account). Islamicly provides the Shariah layer: screening data, continuous monitoring, rebalance coordination and purification notifications.
In-Depth Analysis
Green Portfolio (P) Ltd is a Gurgaon-based investment manager co-founded by Divam Sharma, running discretionary PMS strategies, a Category III AIF and subscription smallcases off one research engine tilted toward under-the-radar manufacturing companies (average portfolio market cap around INR 12,000 crores per the co-branded page). Third-party PMS databases put firmwide managed assets above INR 700 crores across six PMS schemes.
The Shariah line launched with the Green Ethical Fund PMS (inception 27 June 2024 per BusinessToday's PMS tracker) and extends to the Green Ethical Portfolio smallcase. Both ride the same compliance arrangement: Islamicly, the Shariah stock screening platform, certifies and continuously monitors the portfolios, coordinates rebalances (monthly for the PMS per PMS AIF World, quarterly for the smallcase per the joint blog) and triggers exits when names turn non-compliant.
Two features stand out against the Indian field. First, pricing: the PMS prints a 0% fixed fee, pay-only-for-performance option, and smallcases charge flat subscriptions independent of portfolio size. Second, purification: dividend purification notifications are issued to investors, meaning the impure-income calculation is administered rather than delegated, which only this provider prints among the five ingested.
The style risk deserves note: minimal banking and IT exposure with a manufacturing bias means tracking error against broad indices will be persistent, and the small and midcap tilt cuts both ways in drawdowns. The +28.00% homepage ticker for the Ethical smallcase carries no printed period and should not anchor expectations. The Shariah PMS mandate is young (mid-2024), so certification currency matters more than track record here.
Shariah Compliance Details
- SEBI PMS licence INP000006022; RA licence INH100008513; AIF Cat III IN/AIF3/25-26/1774; BSE enlistment 5461 (site footer, crawled 2026-08-06)
- Shariah certification and monitoring by Islamicly per the co-branded offer page greenportfoliopms.islamicly.com (crawled 2026-08-06)
- Client funds held by SEBI-mandated custodian, segregated in client name (offer page FAQ, crawled 2026-08-06)
- Green Ethical Fund PMS inception 27 June 2024 (BusinessToday PMS tracker)
- Note: the site FAQ prints the RA licence with a missing digit (INH00008513) while the footer prints INH100008513; the footer format matches SEBI conventions
How Green Portfolio Compares
Against Geojit's Ethical Portfolio at the same INR 50 lakh gate, Green Portfolio offers sharper pricing (performance-only) and administered purification, while Geojit offers TASIS certification verifiable on the certifier's site and an institutional parent. Against Zamzam and SenSage in retail, the Green Ethical smallcase is the most process-documented option but the only one without any scholar identity at all.
TASIS-certified PMS with certifier-side verification; Green Portfolio counters with performance-only fees and administered purification.
Named scholar board and signed stock list at retail money; Green Portfolio counters with a larger research house and live Islamicly surveillance.
Halal-only firm identity and goal planning; Green Portfolio counters with administered purification and PMS-grade research depth.
Bottom Line
The process leader: live compliance surveillance, administered purification and performance-only fees. Accept platform-based certification without named scholars, and size the manufacturing tilt consciously.
Read full Green Portfolio reviewShariah Compliance & Oversight
Shariah certification and continuous compliance monitoring are provided by Islamicly, the Shariah stock-screening platform, under a co-branded arrangement. The page prints 'Shariah Certified and Robust Compliance Monitoring by Islamicly' but does not name individual scholars behind the certification. Green Portfolio handles investment management; Islamicly handles the compliance layer including rebalance coordination (crawled greenportfoliopms.islamicly.com 2026-08-06).
2026-08-06
Why It's Halal
The co-branded page is explicit: 'Shariah Certified and Robust Compliance Monitoring by Islamicly', with portfolios 'rigorously screened and managed in accordance with Islamic finance principles'. Islamicly's screening database provides ongoing compliance surveillance and the firm issues dividend purification notifications for its ethical products. Caveats: certification rests on Islamicly's screening methodology rather than a named scholar bench disclosed on the page; Green Portfolio is a mixed house whose other strategies are conventional; and the Shariah mandate's inception (mid-2024) means the track record is short (crawled greenportfolio.co and greenportfoliopms.islamicly.com 2026-08-06).
Regional Availability
Green Portfolio serves all of India
✓ Available nationwide including Uttarakhand
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NationwideHalal Investment Growth Estimate
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Total Value
₹3,43,778
Contributed
₹1,30,000
Growth
₹2,13,778
Hypothetical projection. Past performance does not guarantee future results.
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Important: HalalWallet provides educational information and comparisons to help you explore halal financial options. We do not provide financial, legal, or religious advice. Product structures and Shariah compliance oversight vary by provider. Always verify halal compliance directly with providers and consult with qualified Islamic finance advisors or scholars for guidance on specific products and your individual circumstances.