Covid-19 impact: March meltdown sees PMS returns dropping by up to 41%

Close to 45% of multi-cap strategies fall more than respective benchmarks

The equity market sell-off has taken a heavy toll on the performance of portfolio management services or PMS strategies that cater to high net worth investors (HNIs), with 147 such offerings showing 3-41 per cent a decline in returns in March.

“Equity as an asset class has been battered in March. Strategies where returns have dipped 35-40 per cent