Equity market sell-off takes heavy toll on performance of PMS in March

According to the data sourced from PMS AIF World, several PMS offerings in the multi-cap space have fallen more than their respective benchmarks

The equity market sell-off has taken a heavy toll on the performance of portfolio management services (PMS strategies) — which cater to high net-worth individuals (HNIs) — with 147 such offerings showing 3-41 per cent drawdown in returns in March.

“Equity as an asset class has been battered in March. Strategies, where returns have dipped 35-40 per cent, can be attributed to concentrated bets on portfolios and exposure to lower-quality companies,” said Kamal Manocha, chief executive officer, PMS AIF World.

According to the data sourced from PMS AIF World, several PMS offerings in the multi-cap space have fallen more than their respective