Fifty-five per cent, or 140 out of 253 PMS schemes under consideration, outperformed the Nifty50 in September. The schemes returned 3.3 per cent, on average, better than the 2.8 per cent generated by the benchmark.
The top performing strategies for the month included Invesco’s Caterpillar (9.97 per cent), followed by Green Portfolio’s Dividend Yield (9.93 per cent) and Bellwether Capital’s Growth Fund (9.3 per cent), the data from PMS Bazaar showed.
However, all the individual categories – large-cap PMS schemes (average returns of 2.6 per cent), mid-cap schemes (4.9 per cent), multi cap schemes (3.2 per cent), and small-cap (4.1 per cent) – underperformed their respective benchmark indices in September.
On a one-year basis, Green Portfolio’s Super 30 Dynamic (149.1 per cent), Negen Capital’s Special Situations & Technology Fund (133.9 per cent), and Valentis Advisors’ Rising Star Opportunity (125.1 per cent) were the top performers.
Returns were calculated on a time-weighted rate of return basis for the schemes under consideration. This eliminates the effects of inflows and withdrawals from schemes to get a clearer sense of the fund manager’s performance.
According to the latest regulatory data from Securities and Exchange Board of India (Sebi), PMS schemes managed Rs 18.4 trillion under discretionary portfolio, Rs 1.4 trillion under non-discretionary portfolio, and Rs 1.91 trillion under advisory.
The PMS segment invests money on behalf of well-off individuals. The minimum investment that regulations allow is Rs 50 lakh.
Business Standard has always strived hard to provide up-to-date information and commentary on developments that are of interest to you and have wider political and economic implications for the country and the world. Your encouragement and constant feedback on how to improve our offering have only made our resolve and commitment to these ideals stronger. Even during these difficult times arising out of Covid-19, we continue to remain committed to keeping you informed and updated with credible news, authoritative views and incisive commentary on topical issues of relevance.
We, however, have a request.
As we battle the economic impact of the pandemic, we need your support even more, so that we can continue to offer you more quality content. Our subscription model has seen an encouraging response from many of you, who have subscribed to our online content. More subscription to our online content can only help us achieve the goals of offering you even better and more relevant content. We believe in free, fair and credible journalism. Your support through more subscriptions can help us practise the journalism to which we are committed.
Support quality journalism and subscribe to Business Standard.