Per Annum targets Rs10,000Cr AUM as retail investors look beyond traditional assets

India's alternative investment market is undergoing a rapid transformation, driven by shifting investor preferences and technological advancements. Just a few years ago, such opportunities were primarily accessible to high-net-worth individuals, with limited understanding and infrastructure to bring them to a broader audience. However, Per Annum, a notable player in this space, has witnessed an impressive 400% increase in assets under management (AUM) within a year, reaching Rs 1,500 crore as of August 2026. Over its lifetime, the platform has deployed more than Rs 12,500 crore in capital.

This growth reflects a broader market shift, as retail investors increasingly seek alternatives to traditional assets like equities and debt funds. Factors contributing to this trend include muted equity returns, reduced tax efficiency of debt mutual funds, and the inflation-beating performance of gold. The rise of technology has played a crucial role in democratizing access to these investment avenues, enabling digital platforms to handle tasks once reserved for relationship managers.

Regulatory clarity around new avenues such as P2P lending, fractional real estate, and private credit has also bolstered investor confidence.

Investors now demand more than just attractive returns; they are interested in governance, underlying assets, portfolio construction, liquidity, risk, and compliance. This shift in expectations signifies the maturation of the market. Retail investors are increasingly looking for products that align with their broader investment goals, whether it be predictable cash flows, higher returns with lower liquidity, exposure to real estate without the need for direct ownership, or diversified fixed-income options outside the traditional banking system.

Per Annum's strategic roadmap includes expanding its product ecosystem to cover P2P, private credit, and fractional real estate, enhancing its technological capabilities to provide a seamless investor experience, and maintaining a strong focus on trust through transparency, education, and compliance. The company aims to achieve Rs 10,000 crore in AUM by 2028, which, given its current state, seems achievable based on its impressive growth rate.

However, success will depend on more than just scaling up; it requires delivering the right mix of products and services tailored to the evolving needs of modern investors.

As India's wealth market undergoes a generational transition, younger, more financially literate investors are demanding diversification and access to previously exclusive asset classes. Platforms that prioritize understanding over accessibility and build trust through robust education and compliance will be well-positioned to capture a significant share of this growing market.