Hello all,
Do you have any recommendations for good PMS funds / fund managers in India?
Thank you!
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You can try Basant maheswari PMS
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How has the performance been so far?
I have checked with Vallum Capital of Manish Bhandari, Equity Intelligence of Porinju, Old Briidge Capital, Sage One Investment Advisors and Basant maheshwari PMS. Except the first two where the min investement is 25 Lakhs, others expect it around 1 Cr.
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I would recommend PPFAS and Motilal Oswal. PPFAS has now become a mutual Fund so you can take the Direct route there.
You can check the details of PMS here
http://www.sebi.gov.in/sebiweb/other/OtherAction.do?doPmr=yes
However most PMS charge 20% profit fee over a 12% hurdle. And because of this , I doubt if they will beat the midcap index over a 5-10 years or competing mutual funds?
Some people try to tail coat.
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PMS vs MF is debatable topic. MF are more transparent than PMS , especially in case of fees and past data. However , MF would have too many stocks . I have seen MF having 90 stocks in a portfolio which might provide downward protection but limits returns
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@karanmaroo I have a PMS with Porinju , its been two years and returns are not that bad, at avg 20% CAGR, I know friends who has a better CAGR in his PMS, the thing is you should enter at a bad time like Demonetization or early 2016 when the market crashed, the reason being funds perform well when entered in bad times.
Benefit which I have is daily you will get update via email of your holdings and value so you know what shares you are holding.
Many create shadow portfolio I am not sure if its the right way to do it or not but many does. Regarding fees whatever we pay its worth it as long as you cant make your money grow better than them.
Investor shouldnt be bothered about PMS fees profit sharing etc as long as you are getting good return after all these expenses.
Hope it helps
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Hi Karan, You should try Aveek first. www.aveksatequity.com
He is among the main VP forum members. He very knowledgeable and does good due diligence prior to advising buy/sell. The format is not exactly PMS, it is more of a portfolio advisory. I have been with him for almost a year now and extremely happy about it.
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you can contact Mr.Chokkalingam of Equinomics Research & Advisory, one of the genuine deep value investors in india. Charges are quite nominal.
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Thank you! I’ve seen some top guys running PPFAS like Rajeev Thakkar and Raunak Onkar, will definitely have a look
Thanks; yeah, true - but I also reckon that a PMS can help you earn more than a MF given the slightly more relaxed regulations
@Hocuspocus32 do you mind sharing details of fees structure of Porinju pms ? Also, 20% CAGR is after all fees and charges ?
@sahiltaneja29 yes 20% is after all fess and expenses. Its around 2% of the total NAV which will get deducted every qtr and also you can set 3 different fee structure like profit sharing etc .
I have two queries
1)Is pms gain is taxed or is it a long term gain
- I was under the impression that as porinju buys some stocks with turnaround stories and some stocks with chor management then if market crashes then his fund can tank a lot as compared to other pms which are more value buys
Thanks
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Yes Porinjus does seem to make great returns as claimed by his followers but I think it’s the market environment that is favourable for his kind of stock picking. There is no guarantee that it will be the same in the future.
Quoting Howard marks ’ It should be the endavaour to make good returns with minimum risk’ Porinjus stock picks make great return but with greater risk and it may also happen that most stocks are economy dependent and may suffer deeply if a recession were to strike.
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Minimum 1 crore pf size
sageone need 50 laks, but awesome return
Manish Bhandari very gud
another option Unifi capital, very conservative and great return
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is there a short term capital tax or long term
tax on pms