Half the PMS schemes trail Nifty 50 in FY21, clutchful offer 100% returns

Returns were calculated on time-weighted rate of return, which eliminates effects of inflows and withdrawals from schemes to get a clearer sense of fund manager's performance

Companies providing portfolio management services (PMS) had a tough time beating the benchmark index in the last financial year, with more than half of the schemes underperforming the Nifty 50 index.

Fifty five per cent, or 117 out of 213 PMS schemes, underperformed the benchmark, which gained nearly 71 per cent in FY21, data from industry tracker PMS Bazaar shows. Thirty six schemes gave returns of over 100 per cent, with Nine Rivers Capital’s Aurum Small Cap Opportunities (203 per cent), Negen Capitals Small Cap Emerging (189 per cent) and Valentis Advisors Rising Star Opportunity (169 per cent) topping the