Nearly 70% of 254 PMS schemes outdid Nifty in 12 months, shows data

Nearly 70 per cent of the 254 portfolio management services (PMS) schemes have beaten the Nifty50 index in the past year. The schemes returned 26.6 per cent, on average, compared to 18.8 per cent given by the benchmark.

Green Portfolio’s Super 30 (136 per cent), Counter Cyclical Investment’s Long Term Value (121 per cent), and Right Horizon’s Minerva India Underserved (91 per cent) were the top performers, reveals the data from PMSBazaar.

None of the schemes gave negative returns over a one-year period.

Alder Capital’s B2C Growth (0.14 per cent), Marcellus Investment Managers’ Kings of Capital (3.2 per cent), and Fractal Capital Investments’ Wealth Builder (5 per cent) were among the worst performers. Large-cap PMS schemes (average returns of 19.4 per cent), mid-cap schemes (30 per cent), and small-caps (40.5 per cent) outperformed their respective benchmark indices.

The top performers for March included Care PMS’ Growth Plus Value (13.5 per cent), Right Horizon’s Minerva India Underserved (11.4 per cent), and Abans Wealth and Investment Managers’ Smart Beta Portfolio (10.5 per cent).

Returns were calculated on a time-weighted rate of return basis for the schemes under consideration. 

The time-weighted rate of return eliminates the effects of inflows and withdrawals from the schemes to get a clearer sense of the fund manager’s performance.

According to the Securities and Exchange Board of India data, PMS schemes managed Rs 19.7 trillion under discretionary portfolio, Rs 1.6 trillion under non-discretionary portfolio, and Rs 2.3 trillion under advisory.