Out of 200 PMS investment approaches within the PMS Bazaar universe that disclose their full holdings, they have allocated 1190 unique stocks across market cap - large, mid and small caps

The Nifty 50 reached a new high in August 2024, and the index has closed higher for three consecutive months. As such, since January the Nifty has been up over 16%.
In this regard, when it comes to PMS, around 280 PMS approaches outperformed the S&P BSE 500 TRI (0.96%), and 230 PMS strategies outperformed the Nifty 50 TRI (1.36%) for August.
Small & Midcap PMSes led the return chart with a 2.32% category average gain, followed by Thematic, Smallcap, Flexicap, Midcap, and Multicap. Largecap and Large & Midcap PMSes delivered uninspiring returns. Consequently, five out of seven PMS categories beat benchmarks, while Largecap and Large & Midcap categories trailed.
Overall, 54% of the total PMS approaches within the PMS Bazaar universe outperformed the Nifty 50 TRI, maintaining the winning trend seen in previous months. When benchmarked against the S&P BSE 500 TRI, nearly 66% of PMS funds clocked alpha, which is higher than the 50% hit ratio in July.
Diversified allocations across stock market capitalisations have contributed to the PMS performance. PMS Bazaar data revealed that PMS investment approaches have predominantly invested in large and small cap stocks. Out of 200 PMS investment approaches within the PMS Bazaar universe that disclose their full holdings, they have allocated 1190 unique stocks across the market cap.
That said, PMS Fund Managers have hedged against volatility with more allocation to large cap stocks like HDFC Bank, ICICI Bank, and Larsen & Toubro, yet the category-wise allocation is more skewed towards small caps. For instance, 75 PMS investment approaches have allocations to HDFC Bank, followed by ICICI Bank with 67 PMSes allocating to this stock and 59 PMSes have allocations to Larsen Toubro.
Here are the top 5 stocks that PMSes hold in the large cap category




Recent Blogs

110 of 123 AIFs Deliver Gains in April; Top Performers Log 5–9% Returns
Long-only AIFs (2.19%) outperformed long-short peers (1.28%) with category average alpha of ~90 bps as macro tailwinds and index gains supported broad-based strategy resilience

Gateway to Global Investing: Strategic Access through GIFT City
PMS Bazaar recently organized a webinar titled “Gateway to Global Investing: Strategic Access through GIFT City,” which featured Mr. Alok Kumar, Head – Alternate Products & Special Mandates, Aditya Birla Sun Life AMC Limited and Mr. Rudy Gopalakrishnan, Fund Manager, Lyptus Capital Global Fund.

April Delivers Gains for PMS; One in Four Strategies Beat Benchmarks
Large caps led this month’s PMS strategy gains (3.06%), while Smallcaps lagged at 0.88%; most categories delivered 1–2.5% returns

From Relationships to Results: Building Enduring Client Trust in Wealth Management
PMS Bazaar conducted another episode of the Alternates Universe Webinar Series – Season 2 – Episode 10:

PMS Strategies Face Reality Check in FY25: A Year of Tested Patience
After an extraordinary FY24, PMS strategies across segments saw a reset in FY2025, with returns normalising amid market volatility, mid & smallcap corrections, and selective sector resilience.

From Highs to Headwinds: How AIFs Performed in FY2025
After an exceptional FY2024, both long-only and long-short AIFs in India faced a tougher market in FY2025, delivering resilient returns against a challenging backdrop.

AIFs Delivered a Strong Comeback in March 2025 as Markets Rebound
As many as 111 of 120 strategies delivering positive returns, outperforming key indices

March 2025 PMS Rally: 396 Winners, 200+ Beating Nifty as Markets Shake Off Global Worries
With Large Cap and Flexicap strategies leading the charge, investor portfolios saw a strong bounce back after months of subdued performance