Equity PMS strategies posted strong gains during August, with East Green Advisors' Quant Strategy leading the pack with a 14.73% return.
Atlas Integrated Finance's Momentum 20 PMS Fund followed closely with a 14.46% gain. Hem Securities' India Rising SME Stars, the only small-cap strategy among the top performers, posted a 13.08% return, while Jainam Broking's Jainam Value Maxima achieved a 12.30% gain. Accelt Asset Management's Long Term Equity Fund rounded out the double-digit performers with an 11.32% return.
However, not all strategies fared well. Amaltas Asset Management's Strategic Opportunities Series 1 fell 4.23%, while Lakewater Advisors' India Growth declined 5.12%. Omniscience Capital Advisors' Omni Industry Inc and Omni Energy Transition also posted declines of 3.67% and 4.50%, respectively.
“After closing below the rising trendline that had supported the index since April, the benchmark faces the risk of a deeper correction towards 23,260.”
Anand James, Chief Market Strategist at Geojit Investments
Ashima Capital Management's Long Heritage Value Fund recorded the steepest decline, falling 7.64% during the month.
India's benchmark equity index Nifty50 faces challenges, with analysts divided on its near-term outlook. Anand James of Geojit Investments warns of a potential correction, while Harendra Kumar of Elara Securities remains optimistic about a 15%-20% return over the next 15 months.
“Our base case is a 15% to 20% return over the next 15 months. It could go higher, because once momentum picks up, markets can go anywhere.”
Harendra Kumar, Managing Director and CEO of Elara Securities
Background
The performance of PMS strategies in August highlights the ongoing volatility in the market. Investors are closely watching the participation of key sectors such as banks and IT, which could influence the Nifty's recovery trajectory.
Investors should closely monitor the participation of key sectors such as banks and IT, which could influence the Nifty's recovery trajectory.
