Top PMS strategies generate 7-14%, while laggards lose 4-6% in September when Nifty itself dipped
Repeating the August performance, the month of September saw PMS portfolios with heavy doses of smallcaps ruling the return charts. Unfortunately, portfolios that were positioned to largecaps did not do well this month where even the Nifty fell 1.2%. Top PMS performers clocked 6-14% returns while the laggards dragged down portfolio returns by 4-6%. Read on to know more.
According to PMS Bazaar data, 19 largecap PMSes reported an average 0.75% loss in September 2020. AccuraCap Alpha10, Ambit Coffee Can and Varanium Large Cap Focused Fund were the winners, with less than 3% gain. In total, a dozen of largecap PMSes beat the Nifty this month.
Multicap PMS strategies, as a whole, reported 1.02% gain, which is higher than the BSE 500’s 0.3% decline in September. The three best monthly performers are Moneylife MAS Growth (up 14%), Girik Multicap Growth Equity (up 6.69%) and First Global India Super 50 (up 6.1%). Over 70 multicap PMSes of the 98 tracked beat BSE 500. Do note that Moneylife MAS Growth was also among the best performers in August 2020.
Smallcap PMSes, as a category, clocked 1.33% average gain in September. But that number was way lower than the BSE Smallcap index’s handsome 3.7% gain this month. AccuraCap Picopower (up 7.7%), Nine Rivers Aurum Small Cap (up 6.8%) and Sundaram Rising Stars (up 3.9%) were the three best smallcap PMS performers in September. About 75% of smallcap PMSes beat the benchmark. The Nine Rivers scheme was among the three best in August 2020 too.
Among the 14 Midcap PMSes tracked, the category average was a solid 2.39%. Centrum Multibagger Deep Value I (up 6.1%), Centrum Deep Value IV (up 5.7%) and Ambit Good & Clean India Fund (also up 5.7%) were the best performers. Nine of fourteen midcap PMSes outperformed Nifty Midcap 100. Both the Centrum schemes had also figured in the best performer list of August 2020.
|AMC||STRATEGY NAME||CATEGORY||1 Month %||6 Months %||1 Year %|
|MONEYLIFE||MAS GROWTH||MULTI CAP||14.00%||80.11%||NA|
|NINE RIVERS CAPITAL||AURUM SMALL CAP OPP.||SMALL CAP||6.80%||94.90%||24.20%|
|GIRIK CAPITAL||MULTICAP GROWTH EQUITY||MULTI CAP||6.69%||30.44%||22.93%|
|CENTRUM PMS||MULTIBAGGER ( DEEP VALUE I )||MID CAP||6.10%||63.30%||28.00%|
|FIRST GLOBAL||INDIA SUPER 50||MULTI CAP||6.10%||41.70%||NA|
|STALLION ASSET||CORE FUND||MULTI CAP||6.01%||43.74%||25.03%|
|AMBIT INV. ADVISORS||GOOD & CLEAN INDIA FUND||MID CAP||5.70%||37.50%||2.40%|
|CENTRUM PMS||DEEP VALUE IV||MID CAP||5.70%||60.90%||31.30%|
In the largecap space, the three notable PMS laggards were Asit C Mehta ACE 15 down 4.7%, Concept Investwell Legend down 3.78% and Motilal Oswal Value down 2.52%. All the top under-performers lagged the Nifty by a hefty margin.
In the multicap PMS segment, the three notable laggards in September were Globe Capital Value down 5.52%, AcePro Galaxy down 5.43% and Credent Growth Portfolio down 5.22% (which was the worst multicap PMS performer in Aug-20 by virtue of being down nearly 6% in that month).
Smallcaps did reasonably well in September, but a few portfolios fared not so well. The 3 top laggards in smallcap PMS were Prabhudas Lilladher Fortune down 2%, Crest Wealth Smallcap down 1.9% and Ambit Emerging Giants down 1.3%. Prabhudas Lilladher Fortune was also the top laggard in August 2020 too.
In the top-performing midcap PMS space, the top three laggards were Crest Wealth Emerging Bluechip down 2%, Asit C Mehta Ace Midcap down 1.3% and Concept Investwell Marvel down 1.04%. The Asit C Mehta Midcap strategy was, in fact, the worst performer in August as well.
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