Most portfolio management service schemes in red in February, shows data

Most of the portfolio management service (PMS) schemes delivered negative returns in February, with 217 (80 per cent) of the 268 schemes underperforming the Nifty50. The schemes returned -5.5 per cent on average, lower than the -3.15 per cent given by the benchmark.

Schemes that managed to buck the trend and eke out positive returns include Oro Asset Management’s All Weather Port­fo­lio (1.1 per cent), Counter Cyclical Investments’ Long Term Value (0.9 per cent), and Invasset’s Growth Pro Max Fund (0.1 per cent), the data from PMS Bazaar showed.

Large-cap PMS schemes (average returns of -3.5 per cent) and multi-cap schemes (-5.07 per cent) underperformed their respective categories, while mid-cap schemes (-6.47 per cent) and small-cap (-7.1 per cent) outperformed. On a one-year basis, Counter Cyclical Investment’s Long Term Value (116.4 per cent), Green Portfolio’s Super 30 (79.3 per cent), and Right Horizon’s Minerva India Under-served (73.6 per cent) were the top performers.

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

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, latest data from the Sebi shows.