Quick Summary
Pugmark Fund Capital Advisors LLP, also known as Pugmark Investment Advisors, holds SEBI investment adviser registration INA000019576 and focuses on multicap equity. Its tables show 5 complaints, all resolved, in September and October 2025, then none through September 2026. The website gives no price, no terms and no privacy policy in the content we reviewed. It describes a goal of healthy long term returns. We found no SEBI order against the firm as of 16 October 2026, which is not a clean certificate.
A calm website that talks about research, filters and patient investing can feel reassuring. It still leaves open how much you would pay, what you would sign and what happened when things went wrong. This blog looks at Pugmark Fund Capital Advisors LLP through its own disclosures.
We cover the registration, the complaint tables, the missing price and the documents we could not find, then turn the gaps into questions you can send in writing.
What Is Pugmark Fund Capital Advisors LLP and How Do They Work?
Pugmark Fund Capital Advisors LLP is a limited liability partnership that operates as a SEBI registered investment adviser.
It also uses the name Pugmark Investment Advisors, and it specialises in multicap equity investing.
The firm says its approach is research led, looking for businesses with distinctive characteristics at reasonable valuations.
The aim is to build portfolios for long term returns.
The Investment Philosophy
The website describes filters for differentiation, profitability, growth and cash flows.
It also says it assesses business capabilities and adapts portfolios to prevailing market conditions.
The firm states that it does not try to forecast market or price movements.
That is a fair statement of style, though it tells you little about how decisions are made in practice.
What a Multicap Approach Means
A multicap portfolio holds companies of different sizes, large, mid and small.
The mix can change over time, so the risk in your portfolio can also change.
Ask the firm how much it can hold in small companies, since those can fall faster than large ones.
Request the answer in writing and keep it.
The Team
The website explains the philosophy but gives no detail on the advisory team, their qualifications or their experience in the content shared.
For an adviser, that is the part many clients want to see first.
Ask who will advise you, what they have done before and under which registration they work.
Two Names, One Entity
The LLP registration and the Pugmark Investment Advisors name appear to refer to the same firm.
Check that the name on any invoice or payment page matches the registered name.
Is Pugmark Fund Capital Advisors LLP SEBI Registered?
The research shows the LLP listed as a registered investment adviser.
Each point below is what the listing shows, and you should confirm it yourself before relying on this page.
- Registration number is INA000019576. The INA prefix marks an investment adviser, unlike INH for a research analyst or INP for a portfolio manager.
- Type of entity is an LLP, and the listing gives the LLP identification number as ABZ-0551. An LLP is a legal entity of its own, separate from its partners.
- Address is WeWork, Prestige Atlanta, 80 Feet Road, Koramangala, Bengaluru 560034. A shared workspace address is common among young firms, so it is not unusual by itself.
- Email is on the pugmarkfund domain name.
The research did not show a registration start date.
Check the validity date on SEBI’s listing, because it matters when you read the complaint tables later in this blog.
You can run the check yourself in a few minutes.
Verify Investment advisor registration number lets you search by the INA number, compare the name and category, and see whether the status is active.
A SEBI registration number search on the regulator’s own pages does the same job.
Do it before you pay anyone, and save a screenshot with the date.
Registration shows that a firm may give investment advice. It does not describe the quality of advice or the fee.
What Does Pugmark Fund Capital Advisors LLP Complaints Data Reveal?
The firm publishes a monthly summary, a thirteen month trend and an annual table. We read each one and added the totals again.
The monthly summary for September 2026 shows zero in every row.
That means nothing pending at the end of August, nothing received or resolved in September, and nothing pending over three months.
The average resolution time is shown as nil, which fits a month without complaints.
The Monthly Trend
The trend covers September 2025 to September 2026. Here it is in compact form.
|
Period |
Received | Resolved |
Pending |
|
September 2025 |
4 | 4 | 0 |
|
October 2025 |
1 | 1 | 0 |
| November 2025 to September 2026 (eleven months) | 0 | 0 |
0 |
| Total across thirteen months | 5 | 5 |
0 |
Five received, five resolved and none pending adds up correctly.
The Annual Table
|
Period |
Carried forward | Received | Resolved | Pending |
|
2024-25 |
0 | 0 | 0 |
0 |
| 2025 till date | 0 | 5 | 5 |
0 |
The annual row agrees with the trend, five received and five resolved.
The Label “2025 till date”
The annual table names its second period as “2025 till date” without an end date.
We cannot tell whether it runs to December 2025 or to a later point.
The monthly trend shows nothing after October 2025, so the five complaints fit either reading.
A clear end date would remove the doubt.
How to Read Five Complaints?
Four complaints in one month, then one the next, is a cluster.
It is followed by eleven quiet months, so the later record is clean.
The tables do not say what the complaints were about.
Ask the firm for general categories and for how the cluster was handled, since that is how you learn how it responds under pressure.
All five are shown as resolved.
That tells you the reported complaints were closed, and it does not tell you whether the clients were satisfied.
The Date Question
We could not see a registration start date in the research.
If the firm was registered shortly before September 2025, those complaints came early in its life, which is useful context.
Look at the validity date on the SEBI listing and read the cluster against it.
If you ever need to raise a case, the guide on a SEBI complaint against investment advisor shows how such cases usually run, and it helps to know that before you commit money.
A search of SEBI’s public records found no SEBI order against the firm as of 16 October 2026.
That is not a clean certificate, because orders can be published later and our search was limited.
Can You Find Pugmark Fund Capital Advisors Fees Online?
The website content we reviewed does not describe the advisory services in enough detail and does not give a pricing structure.
A visitor cannot see what is offered or what it would cost.
SEBI allows fees in a fixed fee mode and in an assets under advice mode, each with its own limit.
In the fixed fee mode the cap is ₹1,51,000 per client per family per year.
Without a published fee, you cannot see where the firm sits against that cap or compare it with other advisers.
Payment Terms
The site also does not state payment terms or other charges.
Ask whether the fee is paid upfront, quarterly or yearly, and what happens if you stop.
A GST Example
Suppose a quote arrives as ₹1,78,180.
That equals the ₹1,51,000 cap plus 18 percent GST, so it would not by itself cross the cap, though the GST treatment should be confirmed in writing.
This is only a worked example and not the firm’s price.
It shows why the base fee and GST should be written on separate lines.
Before You Pay
Take these four steps first, since each costs nothing.
- Ask for the fee in rupees and the period it covers.
- Ask for GST as a separate line.
- Ask for the refund terms if you stop midway.
- Ask for the payment account name and match it to the registered name.
Asked to pay before you have seen the fee, the terms or a privacy policy?
Our team reviews your payment proof and whatever agreement exists, drafts a written grievance to the adviser, and takes it to the right SEBI channel if the reply falls short. Register with us for a free consultation.
What Terms and Privacy Disclosures Does Pugmark Provide?
The research did not find a privacy policy or terms and conditions in the website content reviewed.
That does not mean none exist, and the firm may share them on request.
Without them, you cannot see how your personal information would be handled or what terms govern the relationship.
1. The Agreement and the MITC
The Most Important Terms and Conditions, called the MITC, were standardised for advisers from February 2025.
They form part of the advisory agreement and cover fees, risks, refunds and scope.
SEBI rules say the agreement must be signed and handed to you before advice is given or fees are charged.
Ask for both documents by email before you pay.
2. The Privacy Policy
Ask what personal and financial data the firm holds, why it needs it, how long it keeps it and how you can have it removed.
Advisers often hold PAN, bank and portfolio details.
A written answer is a better guide than a general promise.
3. Risk Profiling and Suitability
The website does not explain how your risk profile is assessed.
Request your profile record in writing, so you can see what the firm knew about you when it advised you.
An adviser’s recommendation should rest on that record.
Pugmark Fund Capital Advisors Return Claims and Investment Approach
The website says its portfolios are designed to deliver healthy, long term returns.
That describes a goal and not a result, and SEBI does not allow assured or guaranteed returns.
The site does not include performance data in the content shared.
So you cannot judge how the approach has worked over time.
Ask for the Record
Ask for performance on a basis you can verify, over the same periods and against a stated benchmark.
Additionally, ask how the figures are calculated and whether they cover all client portfolios or a selected few.
SEBI rules on advertising restrict claims about past returns, so be wary of a cherry picked list of winners.
How criteria are measured
The site speaks of distinctive businesses and reasonable valuations but does not say how either is measured. Terms like these are subjective, and each firm can mean something different.
Ask for a worked example of how the firm applied its filters to a past holding, without naming clients.
Process Discipline
The firm talks of filters for differentiation, profitability, growth and cash flows.
Ask how often portfolios are reviewed, who approves changes and how you will be told.
Can Pugmark Fund Capital Advisors Reviews Tell You Anything?
The research for this blog did not include client reviews.
We have not described any, and a missing review should not be read as a good or bad sign.
Look for dated reviews on more than one platform.
Any review you read is an individual opinion that we have not verified, and the firm may dispute it.
What Should You Ask Pugmark Fund Capital Advisors Before You Pay
The gaps above can be turned into a short list.
Send these by email so you have a written reply, and wait for the answers before any money moves.
1. What is the fee, with GST?
Ask for the base fee, the GST, the period and the refund terms. If it is a fixed fee, compare it with the ₹1,51,000 cap.
2. When was the registration issued?
Ask for the registration validity date, and how it relates to the complaints in September and October 2025.
3. What were the five complaints about?
Ask for general categories and how each was closed.
4. Can I have the agreement, MITC and privacy policy?
Ask for all three before payment, and keep the email as proof of when they arrived.
5. How are disputes settled?
Ask whether the agreement sends disputes to arbitration. Reading about arbitration in share market cases first helps you judge what such a clause would mean for you.
How To Escalate a Complaint Against Pugmark Fund Capital Advisors?
The listing shows an email address on the firm’s own domain.
The research does not name a separate grievance officer, so write to that address and keep the email trail.
State your name, payment reference, the issue and the outcome you want in a reasonable time.
A dated email is stronger than a call.
If the firm does not reply or you disagree with the answer, the regulator’s online system is the usual next step.
The page on the SCORES SEBI complaint route covers what to attach and how a case moves after you file.
Keep every reply you get on that system, since they matter if the case has to go further.
For a payment disagreement that stays open, there is another route.
The SMART ODR portal brings in a neutral conciliator to go through your papers with you, so keep receipts and replies together.
Disclaimer
This blog is based on the firm’s published disclosures and publicly available SEBI records as of 16 October 2026. It does not allege wrongdoing, and the firm is welcome to share its side. We could not independently confirm the registration start date, the fee levels, the services offered, the reasons behind the reported complaints, or the content of any agreement beyond what the research showed.
Conclusion
Pugmark Fund Capital Advisors holds a SEBI investment adviser registration, and its five reported complaints are all shown as resolved, followed by a long quiet run.
The harder part is that the website says little about fees, terms or privacy.
Before you pay, ask for the fee in rupees with GST, the registration date, the agreement and the MITC. Keep every reply in writing.
Check the registration yourself and match the payment account to the registered name.
If the firm answers openly and quickly, you have a better basis to decide.
If a dispute arises later, write to the firm first and then use the escalation routes in order.
Keep your receipts, emails and screenshots in one folder.
Report. Recover. Stay Fraud Free.
Frequently Asked Questions
The research shows it as an investment adviser under INA000019576, also known as Pugmark Investment Advisors. Confirm the details and the validity date on SEBI's website before you pay.
The tables show five complaints received and resolved, four in September 2025 and one in October 2025, with none from November 2025 to September 2026.
The website content we reviewed shows no fees, payment terms or service details. Ask the firm to state the fee in rupees, the GST and the refund terms in writing before you pay.
The website says its portfolios are designed to deliver healthy, long term returns, which is a goal. SEBI does not allow assured returns, so ask for the risks and past results in writing.
Write to the firm first and keep the reply. If it falls short, a complaint can go through SEBI's online system or the dispute resolution portal, and our guides cover those routes.
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