Wealth creators: PMSes that delivered up to 37% annual returns in 10 years

The equity asset class can be accessed through mutual funds (MF), Portfolio Management Services (PMS) and National Pension System (NPS). All these routes have rewarded investors, but they all experience different types of volatility and different return trajectories. Here, we list the top PMS strategies in terms of their returns over the last 10 years, as per data from PMSBazaar Finalyca. (Among the 58 strategies with a track record of over 10 years) Most in the list have held major allocation to mid- and small-cap stocks. Returns displayed here are as per the Securities and Exchange Board of India-defined time-weighted rate of return (TWRR) method. Returns were as of October 31, 2023 while the portfolio values were as of September 2023

Aequitas Investment Consultancy - India Opportunities Product
Category: Small Cap
Inception date: Feb 01, 2013
Market-Cap break-up: Large-cap (2%), mid-cap (11%), small-cap (83%) and cash (4%)
Secret sauce: Risk averse, Cost efficient, Risk efficient, Simple, Transparent and Easy to manage

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Nine Rivers Capital - Aurum Small Cap Opportunities
Category: Small Cap
Inception date: Dec 31, 2012
Market-Cap break-up: Undisclosed
Secret sauce: Focused investing in 12-15 companies, upto Rs 5000 crore M-CAP with low turnover

Master Portfolio Services - Master Trust India Growth Strategy
Category: Mid Cap
Inception date: Oct 22, 2011
Market-Cap break-up: Undisclosed
Secret sauce: invests in companies which have underutilised capacities and innovative business models which result in market share gain and margin expansion.

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Care Portfolio Managers - Growth Plus Value
Category: Small & Mid Cap
Inception date: Jul 19, 2011
Market-Cap break-up: Large-cap (5%), mid-cap (Nil), small-cap (90%) and cash (5%)
Secret sauce: betting on the dominant players in respective segments. Bottom-up approach of growth potential, strong financials, good management, attractive valuations.

Accuracap - Picopower
Category: Small & Mid Cap
Inception date: Oct 10, 2011
Market-Cap break-up: Large-cap (1%), mid-cap (19%), small-cap (75%) and cash (5%)
Secret sauce: Stock selection is based on Artificial Intelligence, focus on business fundamental. Average holding period of stocks around 2 years. It avoids public sector & IPO.

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Abans Inv. Managers - Growth & Momentum
Category: Mulit Cap
Inception date: Jan 01, 2012
Market-Cap break-up: Large-cap (34%), mid-cap (26%), small-cap (32%) and cash (8%)
Secret sauce: It holds a concentrated portfolio and follows growth and momentum strategies while picking the stocks.

Aditya Birla Sun Life AMC - SSP
Category: Small & Mid Cap
Inception date: Oct 06, 2009
Market-Cap break-up: Large-cap (19%), mid-cap (37%), small-cap (39%) and cash (5%)
Secret sauce: It bets on companies with sustainable growth over long-term in select industries. About 80% portfolio has been invested in 4 to 6 sectors.

Also see: Macro proof your SIPs with this MC30 midcap fund by Edelweiss MF

Centrum PMS - Multibagger
Category: Mid Cap
Inception date: Mar 05, 2012
Market-Cap break-up: Large-cap (5%), mid-cap (22%), small-cap (69%) and cash (4%)
Secret sauce: It invests in deep value stocks across sectors and segments. It identifies turnaround situation that are due to various factors like change in management, demand-supply scenario, improved business environment, favorable government policies, among others.

Girik Capital - Multicap Growth Equity
Category: Multicap
Inception date: Dec 03, 2009
Market-Cap break-up: Large-cap (39%), mid-cap (11%), small-cap (43%) and cash (7%)
Secret sauce: The portfolio of the strategy tries to identify “Early Leaders or Winners” much ahead of their largest earnings growth curve.

Kotak - Small & Mid Cap
Category: Small and Mid Cap
Inception date: Apr 30, 2012
Market-Cap break-up: Large-cap (13%), mid-cap (16%), small-cap (70%) and cash (1%)
Secret sauce: The portfolio follows a stock-specific approach with a medium to long term perspective. It invests across sectors with a bias to invest in companies backed by able managements with sound fundamentals and strong future potential.

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