Analysis of Midcap CategoryPMS for June 2024

According to SEBI data, the PMS industry, excluding contributions from EPFO, experienced a 40% growth in AUM, increasing from Rs. 4.75 lakh crore in April 2023 to Rs. 6.70 lakh crore in April 2024.

Among the four PMS categories—discretionary, non-discretionary, advisory, and co-investment—discretionary PMS saw the highest growth, with AUM rising by 50% from Rs. 2.73 lakh crore in April 2023 to Rs. 4 lakh crore in April 2024.

The number of discretionary PMS clients also grew by nearly 30%, from 1.22 lakh to 1.58 lakh. In discretionary PMS, the fund manager makes investment decisions without consulting clients, similar to how a mutual fund operates.

The AUM of non-discretionary PMS, where investors have a say in stock selection, also increased by over 30%, from Rs. 2.02 lakh crore to Rs. 2.66 lakh crore.

Nearly all Portfolio Management Services (PMS) schemes delivered positive returns to high net-worth individuals during the first half of 2024. During this period, the benchmark BSE Sensex gained nearly 10%, while the broader indices BSE MidCap and BSE SmallCap surged by 25% and 22%, respectively. We will presenting a series of analysis of the various category of PMS. We are presenting the 1^st series.

Analysis of Midcap Category Based PMS for June

The data presents the performance of various Portfolio Management Services (PMS) focused on midcap investments. The performance metrics include returns over 1 month (1M), 3 months (3M), 6 months (6M), 1 year (1Y), 2 years (2Y), and since inception (SI), along with their respective inception dates.

Top Performers

1. Wallfort PMS and Advisory Services - Diversified Fund

   - 1M: 17.9%

   - 3M: 41.7%

   - 6M: 43.1%

   - 1Y: 111.5%

   - 2Y: 63.2%

   - SI: 27.6% (since Nov-18)

  

2. Nafa Asset Managers - Emerging Bluechip Portfolio

   - 1M: 13.9%

   - 3M: 25.1%

   - 6M: 22.0%

   - 1Y: 50.1%

   - 2Y: 40.6%

   - SI: 19.4% (since Mar-16)

 

3. Nuvama Asset Management Limited - Equities Expansion Target

   - 1M: 13.0%

   - 3M: 15.3%

   - 6M: 15.7%

   - SI: 38.2% (since Jul-23)

 

 Consistent Performers

1. Centrum PMS - Multibagger (Deep Value I)

   - 1M: 10.9%

   - 3M: 26.6%

   - 6M: 26.1%

   - 1Y: 50.2%

   - 2Y: 32.0%

   - SI: 20.5% (since Mar-12)

  

2. Centrum PMS - Deep Value IV

   - 1M: 9.5%

   - 3M: 25.8%

   - 6M: 25.8%

   - 1Y: 52.4%

   - 2Y: 32.3%

   - SI: 19.5% (since Dec-15)

 

3. Ambit Investment Advisors - Good and Clean

   - 1M: 10.1%

   - 3M: 20.6%

   - 6M: 17.9%

   - 1Y: 44.7%

   - 2Y: 32.2%

   - SI: 16.1% (since Mar-15)

 Performance Analysis

 Short-Term Performance (1M)

·       Wallfort PMS and Advisory Services - Diversified Fund has the highest 1M return of 17.9%.

·       Nafa Asset Managers - Emerging Bluechip Portfolio follows with a 1M return of 13.9%.

·       Nuvama Asset Management Limited - Equities Expansion Targetalso shows strong performance with a 1M return of 13.0%.

 

Medium-Term Performance (3M and 6M)

Over 3 months, Wallfort PMS and Advisory Services - Diversified Fund leads with 41.7%.

 For the 6-month period, the same fund also tops with 43.1%.

 

Long-Term Performance (1Y and 2Y)

·       Wallfort PMS and Advisory Services - Diversified Fund maintains its leading position with 1Y and 2Y returns of 111.5% and 63.2%, respectively.

·       NAFA Asset Managers - Clean Tech Portfolio shows notable long-term performance with 1Y returns of 79.3% and 2Y returns of 53.9%.

 Summary of the Analysis

The Wallfort PMS and Advisory Services - Diversified Fund stands out as the top performer across all timeframes for June, showcasing exceptional short-term and long-term returns. Nafa Asset Managers - Emerging Bluechip Portfolio and Nuvama Asset Management Limited - Equities Expansion Target also display strong short-term performance. 

Consistent performers like Centrum PMS and Ambit Investment Advisors provide stable returns across multiple periods, making them reliable choices for midcap investments. In the upcoming segments we will cover the Multicap, Large Cap analysis accordingly.