Outperforming their benchmarks by a wide margin, at least 58 PMS funds helped HNI investors make double-digit gains in April with the chart-topper recording 20% profit.
InCred Asset\’s small and midcap fund was the best-performing PMS scheme of April with a 20.10% return, followed by Prithvi Finmart\’s Balanced Portfolio fund which gained 19.34% in the month. Other top gainers were Wallfort PMS, Investsavvy, Green Lantern, Centrum, and NAFA, according to data pulled from PMS Bazaar.
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Among star fund managers Saurabh Mukherjea-run Marcellus\' smallcap fund Little Champs bounced back with a bang and earned a return of over 10%. Saurabh\'s midcap-focussed Rising Giants Portfolio also went up over 7% while his Kings of Capital (financials) portfolio recorded an upside of about 4%. His flagship fund Consistent Compounders outperformed Nifty with a 2% return during the month.
Sunil Singhania\'s Abakkus-run Emerging Opportunities fund, which focuses on smallcaps and midcaps, reported a 9.57% gain.
Shyam Shekhar\'s ithought-run smallcap fund Vrddhi reported a 9% gain, Samir Arora\'s Helios India Rising fund saw a gain of 5.51%, while Devina Mehra-owned First Global\'s India Super 50 fund went up 3.8%.
Before being hit by election-related nervousness, Nifty scaled a new peak of 22,794.70 on May 3. April was the third month in which the index recorded a monthly gain of over 1% before the tide turned in the favour of bears this month.
\"We decided to maintain the status quo with a neutral equity allocation, with a 75:25 allocation to large-cap and mid-cap stocks. We recommend investors cut leverage and rotate portfolios to defensive sectors. In our view, a large part of the optimism is already priced in, while disappointment is not. Therefore, the risk-reward is skewed slightly towards a buy-on-dip strategy, rather than going all in,\" said Jitendra Gohil, Chief Investment Strategist, Kotak Alternate Asset Managers.
(Disclaimer: Recommendations, suggestions, views, and opinions given by the experts are their own. These do not represent the views of The Economic Times)
