Majority of PMS schemes underperform Nifty in October, shows data

The majority of portfolio management services (PMS), or 138 of the 267 PMS schemes under consideration, underperformed the Nifty50 in October. The schemes returned 0.2 per cent on average — worse than the 0.3 per cent generated by the benchmark.

The top performing strategies for the month included Basant Maheshwari Wealth Advisers Equity Fund (10.3 per cent), followed by Renaissance Opportunities Portfolio (8.1 per cent), and Agreya Capital Advisors’ Exposure Equity Index Strategy (5.6 per cent), revealed the data from PMSBazaar.

Among individual categories, large-cap PMS schemes (average returns of 0.6 per cent), mid-cap schemes (0.3 per cent), and small-cap schemes (0.5 per cent) outperformed their respective benchmark indices in October. Multi-cap schemes (0.2 per cent), however, underperformed.

On a one-year basis, Green Portfolio’s Super 30 Dynamic (145.7 per cent), Valentis Advisors’ Rising Star Opportunity (131.9 per cent), and Green Lantern Capital Growth Fund (131.9 per cent) were the top performers.

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