Most PMS schemes in red, but more than 80% outperform Nifty in November

The schemes returned -2% on average, better than the -3.9% generated by the benchmark

It was a tough month for PMS schemes with the majority of them ending in the red. However, 218 out of 262 schemes, or 83 per cent, outperformed the Nifty50 in November. The schemes returned -2 per cent, on average, better than the -3.9 per cent generated by the benchmark.

The top performing strategies for the month included Right Horizon’s Super Value (4.6 per cent), followed by Silverarch’s Mid & Small Cap Equity (3.7 per cent) and Systematix’s Dynamic Investment Portfolio (3.35 per cent), the data from PMS Bazaar showed.

Among the individual categories, large-cap PMS schemes (average returns of -2.8 per cent), mid-cap schemes (-1.6 per cent), and multi cap schemes (-2.1 per cent), outperformed their respective benchmark indices in November. Small-cap schemes (-1.7 per cent), however, underperformed.

On a one-year basis, Valentis Advisors’ Rising Star Opportunity (113.19 per cent), Green Portfolio’s Super 30 (112.15 per cent) and Green Lantern Capital’s Growth Fund (101.4 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 22.7 trillion under discretionary portfolio, Rs 1.44 trillion under non-discretionary portfolio, and Rs 2.23 trillion under advisory.

The PMS segment invests money on behalf of well-off individuals. The minimum investment that regulations allow is Rs 50 lakh.