PMS Funds - India

(samir1521) #173

Hi Sarvesh,
Can you please let me know of one/few such managers? Appreciate your help very much.

(a_anurag79) #175

Friends, I am considering putting some money in PMS… After going through various forms and blogs on internet, it looks like Equity Intelligence and Vallum are two good options…
Need some advice from friends who have put money in these two PMS -

  1. Typically how much is short term profit vs long term profit? Primary reason for this question - short term tax will eat up some profit, so returns will further reduce. Though from this year even long term tax is also going to play it’s part
  2. what has been the actual returns, after deducting fees and taxes?
  3. How has their portfolio done? What has been the situation in last 5-6 months considering market is erratic. I am looking for more of individual returns, since publicly available data is based on some model portfolio.
  4. Since PMS buys stocks on individual’s name, I believe person gets to know what has been bought and sold on daily basis. Is that understanding correct?
  5. Is there any restrictions?
  6. Any other advice.


(a_anurag79) #177

Thanks ‘1.5cr’ for the prompt reply. You have actually summed up my concerns / doubts. I would like to know the real numbers vs what’s available in public domain.

@djrish and @8sarveshg, how can I reach out to you guys to get some advice.

Meanwhile others kindly share your experiences with PMS funds that you are affiliated to. This will help me as well as others make right decision.

Email - [email protected]

(Vivek) #178

I can tell you my view on Equity Intelligence returns from 2015 August to date.
Before the market crash started in January 2018 , the Portfolio was doing 22% CAGR, now on this date it is doing only 6% CAGR. Now i am not drawing any conclusions as that its a bad PMS or anything like that because every other PMS has also suffered quite a bit and its just that people are not talking about their returns openly.( in EQ also different people have totally different returns as it depends on the time you invested, many are stil having 20% CAGR after fall and many are in Negative because investment was made at peak )
If 25 Lakhs( I am just assuming that its what you are going to invest) is all that you have to invest in Stocks , then just PMS alone wont be a good idea.
Its better to go for some good Mutual funds like PPFAS which has a process in place, this fund has generated 20% CAGR till date from start , so even if you expect 12-15% kind of returns over 10-15 years period it should do good for you rather than a PMS.
If your corpus is more in stocks then one PMS wont effect you much.

(a_anurag79) #179

Thanks Vivek for the information. This was helpful.

(RamanTiwari) #180

If you like the investment philipsophy of Concentrated portfoio of High Quality + Growth companies, would suggest 2 names:

  1. Basant Maheshwari
  2. Purnartha

Purnartha is very less discussed online, but has huge offline presence. It is the largest equity advisory and charges almost like a PMS.

Both suggested names would have almost all portfolio in less than 6 names,

(a_anurag79) #181

Thanks Raman, Can you please provide some more data points like how they have performed in last 2-3 yrs especially in last 6 months (when market has been quite negative).


Does PMS / AIF invest in unlisted company stocks as well?

(Dr. TarunDS) #184

I had talked to basant maheshwari pms an year back. The charges are more than any of the common pms services around. Kindly understand the charges clearly

(Sarvesh Gupta) #185

Suggest the boarders not to fall to recency bias while selecting a PMS/Advisory/AIF.

For small and midcaps, we have seen a bear market in the past 8 months and as is natural in a bear market - there has been flight to top quality stocks and many of names which are not occupying the top echelons of the quality ladder have been beaten down mercilessly. As such strategies and managers who only focus on quality of business irrespective of valuations have performed decent while those displaying higher levels of adventurism on the quality ladder including all value managers are down a lot (the lower they are on the quality ladder the worse is their performance).

However, one who is selecting a manager at this stage has to look and evaluate the next 5-10 years rather than the last 8 months. As such please be careful not to fall into the trap of extrapolating the immediate past.

(aks) #186

Entered EQ PMS in 2015 and the overall return was in CAGR of 42% till Jan 2018. However with recent market down, it is giving return of 23%. I haven’t seen them churning much in my portfolio but be aware that EQ looks down mostly in Small/Micro cap space - so, that carries extra risk

(Vivek) #187

You joined valuepickr 11 min before only and posted in PMS thread? is it for real?

(aks) #188

Upto you to believe :grinning:

(vv15) #189

Avoid EQ. Porinju is lazy, he invests lazily without doing proper research. Whereas Manish bhandari works his socks off, i have seen him in lots of con calls coming himself and asking questions.

If i have to choose between these 2 then my vote goes for Vallum.

(ramanhp) #190

Any views on Sageone Investments performance? I like to listen to Samit Vartak and he comes across very grounded fund manager. When he talks about few of companies they(might) be invested in, it a complete 360 degree analysis of company. I like that he can be extremely micro in analysis while keeping the macro view on context.

(ramanhp) #192

I can better your investment corpus but no where near even 1 Cr. Will look forward to their AIF. Any idea on Equinomics Research & Advisory run by G Chokalingam?

(mrai74) #193

Can someone answer this?

(tkmagesh) #194

Yes. You will get messages at the end of the day about the transactions made by the fund house in your name. I also receive a detailed monthly report.

(Pod85) #195

This is NOT their PMS CAGR. It is “advisory” CAGR of 47%. They say in the first 3 years they managed their own money and this is part of this 47% CAGR !!. I believe one should look at PMS returns as managing self money and others money is a huge difference. Also they underperformed in 2017 from below data

SOIA track record:

Period (as of 31/05/18) 1 month 3 months 6 months 1 year Since inception (01/23/17)
SageOne PMS (SDP) Portfolio -5.0% -0.4% 4.4% 34.0% 34.3%

The partners split recently and one should do full DD before investing in this or another PMS.

(Pod85) #196

For all practial purposes Sage One is 1.8 years old only. And i am sure after market corrections the PMS CAGR for 1.8 years will come way below 34% unless they hold a high level of cash.