May 2025 proved to be a robust month for Portfolio Management Services (PMS) in India, with several strategies delivering double-digit returns. The top 10 PMS strategies posted returns ranging from 16.49% to 13.80%, highlighting strong market momentum and increasing investor optimism.
Performance Highlights: 2025
- Money Grow – Small & Midcap led the charts with 16.49% returns.
- Other top performers included:
- NAFA Clean Tech Portfolio (16.01%)
- Negen Capital Multicap (15.35%)
- Nine Rivers (14.40%)
- Accelt Long Term Equity Fund (13.80%)
These returns reflect a bullish trend across Small & Midcap, Multicap, and Flexi Cap segments.
Sectoral Trends and Holdings Analysis
Leading PMS performers leaned into high-growth sectors:
- Industrials: Interarch Building Products held by Waya, Anand Rathi, Bonanza, and Accelt
- Healthcare: Blue Jet Healthcare common in Waya and Accelt
- Financial Services: Nuvama Wealth Management seen in Negen, Bonanza, and Accelt portfolios
- Clean Energy: NAFA focused on EV and renewable sectors
- Consumer Goods: CCL Products in Nine Rivers and Ambit portfolios
- Technology: Kaynes Technology in Samvitti’s flexi-cap strategy
Strategy Deep-Dive: Top PMS Fund Managers
1. Money Grow – Small Midcap Fund
- Manager: Viraj Mahadevia
- Approach: Bottom-up investing in high-growth stocks
- Focus: Turnarounds, strong balance sheets, emerging themes
2. NAFA Clean Tech Portfolio
- Manager: Vaidyanath
- Theme: EVs, renewables, sustainability
- Edge: High conviction with cash buffers in downturns
3. Negen Capital Multicap Fund
- Manager: Neil Bahal
- Style: Special situations, M&A, undervalued catalysts
4. Aurum Small Cap Opportunities
- Manager: Sandeep Daga
- Focus: Micro-cap plays in regulatory & consumption upcycle
5. Samvitti Capital – Multicap
- Managers: Athul & Prabhakar Kudva
- Edge: Quant + qualitative framework for scalable growth
6. Ambit Emerging Giants
- Manager: Trilok Agarwal
- Target: Small caps under ₹2,500 crore with moats
7. Bin73 Sunrise Alpha
- Manager: Brijesh Arun Soni
- Method: Deep value investing
8. Decennium Opportunity Fund
- Manager: Mayur Shah
- Style: 15–20 concentrated bets on policy megatrends
9. Bonanza Multicap Fund
- Manager: Achin Goel
- Strategy: Top-down macro + bottom-up stock picking
10. Accelt Long Term Equity Fund
- Founder: Vaibhav Agarwal
- Audience: HNIs, family offices, retail
- Strength: Research-driven multicap stock selection
Key Takeaways for Investors
- Small & Midcap PMS strategies are driving alpha
- Clean tech, technology, and consumer themes are dominating
- Managers with deep research and niche strategies have the edge
- PMS continues to attract investors focused on long-term wealth creation
Why Track PMS Performance?
For HNIs and serious investors, PMS offers curated, actively managed portfolios designed to generate alpha. Monitoring performance and understanding fund strategies is essential for aligning with your risk and return goals.
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