Large-cap PMS schemes fall behind benchmark index returns in January

Many schemes fell behind in the run-up to the budget as markets corrected

Companies providing portfolio management services (PMS) had a tough time beating the benchmark index in January, with more than half of the schemes invested in large companies underperforming in the run-up to the Union Budget.

The Nifty 50 index was down 2.5 per cent during the month. Only around 44 per cent of PMS schemes did better, among the schemes investing in large-cap companies. The analysis is based on data from industry tracker PMS Bazaar.

Half the mid-cap schemes outperformed, while the rest underperformed. The ratio improved for multi-cap schemes where around 62.2 per cent of the schemes gave higher