PMS minnows surprise big guns in Sept; bank-focused funds worst performers

Smaller portfolio management services (PMS) providers managed to trounce their larger and better known peers in September even as they battled volatile markets thanks to weak global cues.

Two multicap strategies from Turtle Wealth along with one smallcap strategy from Molecule Ventures managed to top the charts followed by strategies fromIncred PMS and Equirus Wealth, data provided by PMS Bazaar shows.

Turtle Wealth’s 212° Growth Mantra invests in turnaround companies and has delivered nearly 6 percent returns during the month while 212° Wealth Mantra invests in “gorillas of business” and has delivered about 3 percent returns. In the last one year, they have given 13 and 4 percent returns.

Rohan Mehta, CEO and Fund Managers at Turtle Wealth, told Moneycontrol that outperformance of both funds is thanks to the sharp rally in top five stocks. Some of these stocks held by the funds are SRF, Power Grid, SBI, L&T, Allcargo Logistics, Polyplex Corp, Bigbloc Construction and Navin Fluorine.

“We don’t buy companies that have not delivered all-time high profits. Moreover, stock price also needs to be at all time high,” said Mehta, outlining his stock selection criteria. “Then we meet management and dive deep into business.”

Mehta, who claims to manage Rs 350 crore worth of assets across his PMS funds, is a believer in buying and holding stocks for the long term in order to generate maximum profits from his conviction.

The second best performer of the month Molecule Venture’s Growth strategy delivered 3.64 percent returns. In the last one year it has delivered 26 percent return. According to PMSBazaar, the fund holds stocks from materials, metals, textile and services sectors.

Incred PMS’ Healthcare Portfolio strategy – holding stocks like RPG Life Sciences, Lupin, Aster DM and Healthcare Global – also returned about 3 percent in a month. It was followed by Equirus Wealth’s Long Horizon Fund that delivered a little over 2 percent.

In comparison, Nifty 50 was down 3.74 percent during September while Nifty Midcap 1002.58 percent. BSE 500 and BSE Smallcap indices, which are benchmarks for many of multicap and smallcap strategies, were down 3.25 percent and 0.69 percent, respectively.

PMS Sept 1310_001

PMS funds are investment tools for rich investors. Mandated minimum investment is these funds is Rs 50 lakh, which keeps retail investors away from them.

Big guns go silent

Big funds managed by star fund managers were lukewarm during the month unlike previous month when they performed relatively better. Some of them also failed to outperform their benchmarks.

The worst performer among them was Saurabh Mukerhea-led Marcellus’ Kings of Capital that invests in bank and financial stocks. The fund delivered a negative 6 percent during the month. The poor performance also deepened its poor performance over one year period during which it has lost 14 percent.

ASK’s Financial Opportunities and Abakkus Asset’s Emerging Opportunities were other poor performers of the lot with a negative 3-4 percent returns in a month. In one year, they are down 6 and 8 percent, respectively.

ASK’s Growth portfolio, meanwhile, managed to eke out a positive return, the data shows.

Disclaimer: The views and investment tips expressed by investment experts on are their own and not those of the website or its management. advises users to check with certified experts before taking any investment decisions.

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