The brutal market correction in the wake of the Covid-19 lockdown is proving painful for investors who had flocked to portfolio management schemes (PMS) during bullish times. Many who had entered this intrinsically ‘higher-risk, higher-return’ category, aimed at affluent investors, are now discovering that they lack the stomach for the kind of volatility being witnessed now.
The worst-performing PMS is down 40.6 per cent in March, according to data collated by Pmsbazaar.com, a portal that provides PMS-related analytics and advice. Of the 141 funds for which it has data, 89 fell more than the 22.5 per cent in the Nifty