Three Fourths of PMS strategies beat returns of 2.8% by Nifty50 in August

The mid-cap category returned 8.1%, higher than the Nifty MidCap 100's 7.8%

All except six PMS schemes gave positive returns in August. One hundred and thirty one, or 74 per cent of the 177 strategies under consideration, beat returns of 2.8 per cent given by the Nifty50. Large- and mid-cap strategies, however, underperformed the index, with average returns of 2.25 per cent. The mid-cap category returned 8.1 per cent, higher than the Nifty MidCap 100’s 7.8 per cent. The small-cap and small- & mid-cap category performed in line with the Nifty SmallCap 100, while multi-cap funds returned 4.8 per cent on average, higher than the 3.7 per cent given by Nifty 500.