PMS funds that helped HNIs survive September shock

In troublesome September when the Nifty declined 3.74%, a bunch of PMS funds, used by HNIs to park their surplus capital, managed to not only survive but even thrive, delivering up to 5.7% returns.

At least 50 PMS funds managed to eke out positive returns during the month, showed data pulled from PMSBazaar. Turtle Wealth’s two multi-cap funds – Growth Mantra and Wealth Mantra – were among the top performers with a return of 5.67% and 2.7%, respectively.

Molecule Ventures’ multi-cap growth fund turned out to be the second-best performer in the pack with a monthly return of 3.6%. Funds from Incred, Equirus Wealth, Renaissance, Bonanza and Emkay were also among the top monthly gainers.


Green Portfolio’s ESG fund was the top loser among all the PMS funds as it eroded over 6% of investor wealth.

Among star fund managers, Saurabh Mukherjea-run Marcellus Kings of Capital fund lost over 5.6% in the month. His Consistent Compounders fund, which handles assets worth over Rs 7,200 crore, lost over 3% while midcap-focused Rising Giants lost over 2% in the month. Mukherjea’s small-cap fund Little Champs fared better with 0.8% loss.
Sunil Singhania’s Abakkus Emerging Opportunities Fund, which invests in the broader market, lost 3.4%. Nifty Midcap 100 lost nearly 2.6% during the month and BSE Smallcap 0.69%.

Devina Mehra-run First Global’s funds lost up to 1.2%, showed the data.

ASK Investment’s 21-year-old Growth Portfolio fund managed to deliver a small positive return of 0.29%. Hiren Ved-run Alchemy’s Ascent also gave a minor but positive return of 0.25% in September.