PMS Tracker: Largecap funds outperform smallcaps in December as Nifty rallies 8%

In December, when Nifty50 clocked its best monthly gains in 18 months, largecap funds of portfolio management services (PMS) firms outperformed smallcap funds, with some
of them even giving double-digit returns.

Tulsian PMS’ largecap strategy topped the list, giving nearly 12% returns in December. On a 1-year basis, too, the strategy has given a staggering 48% returns.


The largecap strategies of ICICI Prudential, Asit C Mehta Investment, Nippon India, and Agreya Capital Advisors gave 10-10.5% returns in December.

Saurabh Mukherjea-run Marcellus Investment’s “Consistent Compounders” is another largecap strategy that gave positive returns last month, but underperformed its benchmark. The strategy gave nearly 6% returns.

Meanwhile, smallcap funds relatively underperformed after several months of outperformance.
Marcellus’ ‘Little Champs’ strategy gave 5.6% returns in December. But topping the list in this segment was Equitree Capital Advisors as its ‘Emerging Opportunities’ smallcap fund gave close to 8% returns.

While smallcap funds underperformed largecaps in December, they have given handsome returns to investors over a 1-year period.

Aequitas Investment’s ‘India Opportunities’ smallcap fund was the top gainer, giving more than 91% returns to investors in a year. Equitree Capital’s ‘Emerging Opportunities’ has given 80% returns in a year.

Among multicap funds, Carnelian Asset Advisors’ strategy has given nearly 13% returns in December and was the top performer.

The multicap strategies of ICICI Securities, ICICI Prudential, Bonanza Portfolio, and Estee Advisors have given over 9% returns each.

Among thematic funds, Invesco’s ‘Dawn’ strategy has given over 8% returns in one month, but in a year, it has given 28% returns.

Marcellus’ Kings of Capital thematic fund gave over 4% returns in a month, and in a year, it has given a little over 14% returns.

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