Best and worst performing PMS funds of 2022

NEW DELHI: Even as the headline equity index Nifty managed a small but positive return of 4.3% in 2022, hardly any of the star PMS fund managers, who handle money for the rich, ended the calendar year on a positive note. Saurabh Mukherjea's midcap fund Rising Giants was the top loser by ending with a 22.5% cut.

Most of the PMS funds are, however, meant for long-term investments and a one-year return may be a short horizon to gauge their performance.

Mukherjea-run Marcellus Investment Managers' two other funds - smallcap Little Champs and multi-cap Consistent Compounder funds - lost 10.55% and 8.8%, respectively, shows data pulled from PMSBazaar.

Basant Maheshwari's equity fund ended with a loss of 17.7% while ASK Investment funds lost up to 8.5%. Sunil Singhania-run Abakkus Emerging Opportunities Approach fund ended 4.5% lower in 2022.

Samir Arora-owned Helios Capital's India Rising fund ended with a loss of 3.8% while Devina Mehra's First Global Indian Multi-Asset Fund also lost over 3%.

Other worst-performing funds of 2022 include those run by NJ Asset Management, Motilal Oswal, Lake Water Advisors and Sage One.

Top gainers

Molecule Ventures' fund was the top-performing PMS fund of 2022 with an annual return of over 35%. Counter Cyclical, ICICI Prudential, Renaissance, Fort Capital and Aequitas Investment were the other top gainers.

Three PMS funds run by ICICI Prudential - Value Strategy, Pipe Strategy and Contra Strategy - managed double-digit returns up to 24.5%.

Shyam Sekhar-run ithought's multi-asset Sphere fund also made investors richer by over 16% during the year and was among the list of top performers.

In the month of December alone, TCG Advisory's TCG AMC Multicap Fund was the top performer with a monthly return of over 4%. Other top gainers include Green Portfolio and Scient Capital.

On a monthly basis, Nifty was lower by 3.5% in December while the mid and smallcap indices lost around 2%.