While the market was benign in march with NIFTY gaining 3.99%, it fell in April with NIFTY falling by -2.07%, maintaining a trending market. Factors like - the expectation of an increased pace in the Fed rate hike, the concerns over rising COVID cases in China, and the increasing Inflation - both globally and locally, contributed to this decline. When it comes to the PMS segment of the Indian wealth management Industry, 210 PMSes (Out of 273 PMSes monitored by PMS Bazaar) outperformed NIFTY and 114 of them produced positive returns this month. The Small-cap schemes emerged effectively this month, yielding an average monthly return of 2.75%.

Top 10 PMS strategies of April 2022:

Here are the top 10 PMS strategies identified from the 273 strategies monitored & analyzed by PMS Bazaar.

*Note: All the returns mentioned in this report are based on the 273 PMS schemes monitored by PMS Bazaar.

The Growth strategy of Avestha Fund Management LLP tops the list, yielding a monthly return of 10.65% in April 2022. This strategy creates a concentrated portfolio (12-18 holdings) with a ‘Buy and Hold’ strategy that provides room for recognition of their preferred equity characteristics. 

The Emerging Opportunities strategy of Equitree Capital Advisors Private Limited occupies second place, yielding a monthly return of 9.04% in April 2022. This strategy invests in listed small & micro-emerging businesses with bright prospects and strong management, whose full potential is yet to be realized in the market. 

The India Rising SME Stars strategy of HEM Securities Ltd occupies 3rd place, yielding a monthly return of 8.96% in April 2022. This strategy aims to capture opportunities in SMEs and Small-cap scripts.

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Here is a chart depicting the monthly returns of top-performing PMSes in comparison with the NIFTY index for the month of April 2022: 

Category-wise analysis of Portfolio management services:

Here is a comparison of average returns of different categories of PMS strategies for the month of April 2022:

As in the chart above, Small-cap, Small & Mid-cap, and Mid-cap produced positive average monthly returns in April 2022. The small-cap category tops this list with an average monthly return of 2.75%.

Let us look in-depth into each category and identify the top 3 performers in each segment.

Small-cap:

In April 2022, Small-cap strategies performed comparatively well, yielding an average monthly return of 2.75%. 11 out of 16 PMS Strategies monitored under this category outperformed the BSE Small-Cap index, which stood at 1.40%.

The Emerging Opportunities strategy of Equitree Capital Advisors Private Limited tops this category, yielding a monthly return of 9.04%. Followed by it, we have the India Rising SME Stars strategy of HEM Securities Ltd (8.96%) and the India Opportunities strategy of Aequitas Investment Consultancy (6.27%), constituting the top 3 performers in this category. 

Small & Midcap:

The small & mid-cap category yielded an average monthly return of 1.11% in April 2022, with 18 out 24 strategies monitored under this category producing positive monthly returns.

The Growth Strategy of Green Lantern Capital LLP tops this list with a monthly return of 6.69%. The Electrum Laureate Portfolio strategy of Arihant AMC was close to the top performer, yielding a monthly return of 6.58%. Followed by them, we have the Dynamo strategy of Accuracap with a monthly return of 5.30%, occupying the 3rd spot in the top 3 strategies list of this category. 

Mid-cap: 

The Mid-cap category recorded an average monthly return of 0.20% in April 2022. 9 out of 21 PMS strategies monitored in this category outperformed NIFTY MIDCAP 100, which stood at 0.63%.

The Ace Midcap strategy of Asit C Mehta Investment Intermediates Ltd tops this list, yielding a monthly return of 5.42%. Followed by it, we have the Mid-Cap Portfolio strategy of Renaissance Investment Managers Pvt Ltd (4.08%) and the Super Value strategy of Right Horizons (2.28%), constituting the top-3 strategies of this category. 

Large & Mid-cap:

The Large & Mid-cap category recorded an average monthly return of -1.25% in April 2022. 3 out of 11 monitored PMS strategies monitored in this category produced positive monthly returns. 

The Alpha strategy of the Green Lantern Capital LLP tops this category with a monthly return of 2.30%. Followed by it, we have the Upside AI 250 strategy of Upside AI (0.93%) and the GARP strategy of Composite Investments Private Limited (0.35%), constituting the top 3 strategies of this category.

Large-cap: 

The Large-cap category recorded an average monthly return of -1.53% in April 2022. 13 out of 22 strategies monitored under this category outperformed NIFTY, which stood at -2.07%.  

In this category, the Coffee Can strategy of Ambit Investment Advisors Private Limited tops the list with a monthly return of 0.84%. Followed by it, we have the Alpha Large Cap strategy of Reliance Wealth Management Ltd (0.41%) and the Growth Pro Max strategy of Invasset (0.16%), constituting the top 3 strategies of this category.

Multi-cap:

The Multi-cap category recorded an average monthly return of -0.47% in April 2022. 70 out of 148 PMS strategies monitored under this category outperformed BSE 500, which stood at -0.61%. 

The Growth strategy of Avestha Fund Management LLP, which tops the overall list with a monthly return of 10.65%, comes under the Multi-Cap category. Followed by it, we have the Special strategy of Green Portfolio Private Limited (6.38%) and the Agreya Concentrated Value Discovery strategy of Agreya Capital Advisors LLP (5.33%), constituting the top 3 performers of this category. 

Thematic investment:

This April 2022, the Thematic Investment category recorded an average monthly return of 1.52%, with 6 of the 10 PMS strategies monitored under this category yielding positive monthly returns.

Green Portfolio Private Limited’s Super 30 strategy (7.01%) and Dividend yield strategy (6.77%) occupy the top two positions in the top 3 strategies list of this category, followed by Alphabots India Prime strategy of the Right Horizons (3.94%) occupying 3rd position.

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