In May 2025, a strong showing was seen from at least 15 PMS funds concentrating on small-cap, mid-cap, and multi-cap strategies. According to data from PMS Bazaar, Money Grow Asset’s Small Midcap strategy led the pack with a monthly return of 16.5%.

Following closely behind was NAFA Asset Managers’ Clean Tech Portfolio, which posted a 16% return. Negen Capital’s Special Situations and Technology Fund increased by 15.35%, while Nine Rivers Capital’s Aurum Small Cap Opportunities saw a return of 14.4%. Samvitti Capital’s PMS Aggressive Growth strategy also performed well,delivering a 14.39% return in May.

Ambit Investment Advisors’ Emerging Giants strategy recorded a 14.29% gain. Waya Financial Technologies’ Bin73 Sunrise Alpha, a new participant in the small and midcap space, rose by 14.14%. Anand rathi’s Decennium Prospect strategy generated a 13.91% return, while Bonanza Portfolio’s Multicap fund and Accelt’s Long Term Equity Fund gained 13.87% and 13.80%, respectively.

The top 15 also included portfolios managed by Samvitti Capital, ithought Financial, Master Portfolio Services, and Tulsian PMS, each achieving monthly gains exceeding 13%.

bottom Performers: Elever, Aequitas, Axis Strategies Underperform

“Money Grow Asset’s Small Midcap strategy emerging as the top performer with a 16.5% monthly return”

While numerous strategies achieved double-digit gains, some funds experienced underperformance during May. Elever Investment Adviser’s factorshields PMS was the weakest performer, declining by 0.91%,followed by its Factoralpha PMS,which fell by 0.58%.

Aequitas Investment Consultancy’s India Opportunities Product decreased by 0.33%, while Axis Securities’ AlphaSense AI strategy dropped by 0.30%. Invasset’s Growth Pro Max declined by 0.26%, and Kotak Mahindra AMC’s Pharma and Healthcare strategy was down by 0.23%.

Other funds with relatively modest performance included Profusion Investment’s Income Enhancer (up 0.11%), PRPEdge Wealth’s Alphaa Better Risk Reward (up 0.13%), and Agreya Capital’s Multi-Asset Enhancer (up 0.21%).

The performance disparity among PMS strategies was significant in May,with high-beta smallcap and thematic strategies showing a strong recovery,while certain sectoral,quant-based,and hybrid portfolios struggled to maintain pace.