PMS Tracker FY25: 18 funds gain up to 54%, worst performers shed over 27%

A total of 18 PMS strategies across thematic, small & midcap, multicap, and largecap categories delivered double-digit returns over 20% in financial year 2025 (FY25), with InCred Asset Management’s Focused Healthcare Portfolio topping the charts with a 53.6% gain, according to data from PMS Bazaar.

Healthcare and smallcap strategies shine

Healthcare and smallcap-focused strategies dominated the list of top performers in FY25. Equitree Capital Advisors’ Emerging Opportunities strategy returned 38.26%, followed by another InCred offering — the Healthcare Portfolio — which delivered 36.88%.

Wallfort PMS and Advisory Services featured prominently, with its Diversified Fund returning 35.62% and Ameya Fund delivering 26.13%. Stallion Asset’s Core Fund was up 30.57% during the year.


Other strong performers included SVAN Investment Managers’ Velocity, which gained 25.73%; Green Lantern Capital’s Growth Fund, up 24.62%; and Counter Cyclical Investments’ Diversified Long Term Value strategy, which delivered 23.06% gains in FY25.

Multicap and largecap strategies also deliver

Several multicap and largecap strategies also featured among the top gainers. JM Financial’s India Resurgent Portfolio Series - III returned 21.27%, while Avestha Fund Management’s Long Term Growth gained 21.35% in FY25.

Meanwhile, ithought Financial Consulting’s multi-asset strategy SPHERE rose 21.20%, Anand Rathi Advisors’ Impress PMS gained 20.94%, and Marcellus Investment Managers’ Kings of Capital delivered a 20.02% return during the financial year.

Deep losses for some multi-asset and multicap strategies

On the other end of the spectrum, Pace Financial Investment Adviser’s SKG India Value strategy emerged as the worst performer in FY25, shedding 27.12%.

Alchemy Capital’s High Growth strategy was down 11.26%, while Abans Investment Managers’ Smart Beta Portfolio declined 11.15% in FY25. Ambit Investment Advisors’ Emerging Giants and Wryght Research’s Alpha Fund fell 10.48% and 10.37% during the year, respectively.

Maxiom Asset Management’s GEM strategy, Shree Rama Managers’ Vriddhi Plan, and Alchemy’s Ascent strategy also posted losses of around 9% to 10% for the financial year 2025.

Mixed returns in March

March, the final month of FY25, saw mixed returns across PMS strategies. ASK Investment Managers' ASK Lighthouse Portfolio gained 15% during the month, while 20 PMS strategies returned over 10% in the month of March.

In contrast, the SKG India Value strategy from Pace Financial Investment Adviser declined 7.56% during the month, marking another weak showing for the multi-asset strategy. A total of 8 PMS strategies witnessed negative returns in the final month of FY25.

Also read | PMS Tracker: 14 funds gain up to 5% in February, worst performers drop over 22%

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