80% of PMS Funds Stum­ble in June

The Economic Times - - Money - Amit.Mudg­[email protected]

timesin­ter­net.in ETMar­kets.com: Only 20% of the 100-odd port­fo­lio man­age­ment schemes (PMS) man­aged to gen­er­ate pos­i­tive re­turns in June, the best be­ing 2%, ini­tial data on 43 schemes showed. Smal­lcap-fo­cused PMS schemes met with the big­gest dis­ap­point­ment, where none of the 16 schemes be­ing able to cre­ate wealth to in­vestors. In­di­aNivesh’s ‘ SPROUT’, which man­ages over ₹ 100 crore, eroded in­vestor wealth by 6.90 per­cent­age points. Ac­cu­ra­cap’s Dy­namo (down 6.48%), CARE PMS’s Growth Plus Value ( down 6.06%) and Ko­tak AMC’s Small & Mid­cap Scheme (down 4.80%) all de­liv­ered neg­a­tive re­turns. Moti­lal Oswal’s IOP (which man­ages over ₹ 3,400 crore in as­sets) and IOP V2 (`565 crore AUM) de­liv­ered neg­a­tive re­turns of 4.78% and 4.41%, re­spec­tively. The BSE Smal­lcap in­dex fell 4.22% dur­ing the month.

A cou­ple of schemes such as Sys­tem­atix Shares’ Dy­namic In­vest­ment Port­fo­lio, Tamo­hara in­vest­ment man­agers’ TLES, Am­bit Cap­i­tal's Emerg­ing Gi­ants, Nine Rivers Cap­i­tal’s Au­rum Small Cap Op­por­tu­ni­ties and Prab­hu­das Lil­lad­her’s For­tune Strat­egy man­aged to out­per­form the bench­mark in­dex but still eroded in­vestor wealth by 0.35-1.78%. The Sys­tem­atix scheme also in­cluded mid-cap stocks. HNIs in­vest­ing in mul­t­i­cap schemes also met with dis­mal re­sults. As many as 35 of the 44 schemes un­der re­view re­ported up to 4% drop in re­turns for the month. Schemes run by Ko­tak AMC, Edel­weiss, Ac­cu­ra­cap, Satco Cap­i­tal Mar­kets, Buoy­ant Cap­i­tal, NJ Ad­vi­sory and Aditya Birla Cap­i­tal all fell be­tween 2% and 4%.

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