19 stocks that India's best performing PMS funds are betting on
ABSTRACT: Honeywell Automation, Dixon Technologies, Relaxo Footwears, and Whirlpool India were among the brand’s Atlas Integrated Finance’s midcap fund bet heavily on, with a marginally negative return of 0.23 percent last month.
As the headline index, Nifty hit a 52-week low, and midcap and smallcap indices were in the grip of bears, most PMS fund managers who handle HNI money failed to beat their benchmarks last month. However, little-known funds that focus on small caps managed to shine.
Among the top holdings of Green Lantern Capital’s Growth Fund, which achieved a return of 2.84 percent in June, are SP Apparels, Maharashtra Seamless NSE 3.22 percent, and LT Foods NSE -1.55 percent, and The Great Eastern Shipping Company NSE 9.32 percent. The fund also kept over 28 percent of its capital in Axis Liquid Fund.
Among the stocks picked heavily by Atlas Integrated Finance’s midcap fund, which returned a marginally negative 0.23 percent last month, were Honeywell Automation NSE 2.52 percent, Dixon Technologies NSE -0.04 percent, Relaxo Footwears NSE 0.22 percent, and Whirlpool India NSE -0.99 percent. It also chose to invest about 22 percent of its holdings in a liquid fund.
Nilesh Doshi, Managing Partner, Green Lantern
“We have built the portfolio considering the possibility of global slowdown and/or stagflation due to sharp rise in rates and expected tightening by central bankers across the world,” Nilesh Doshi, Managing Partner, Green Lantern, told ETMarkets.
Sreeram Ramdas, vice president at Green Portfolio
“During times of uncertainty, companies with weak corporate governance, concentrated operations, and high debt levels are the ones to witness the largest drawdowns.” Said Sreeram Ramdas, vice president at Green Portfolio.
Rajnath Yadav, research associate at Choice Broking
“Key drivers for the negative performances are the normalization of monetary policies globally (to tame consumer inflation), the re-emergence of pandemic restrictions in some cities of China, and the ongoing Russia-Ukraine conflict,” said Rajnath Yadav, research associate at Choice Broking.
Green Lantern Capital’s Growth Fund (2.84 percent) and Equitree Capital Advisors’ Emerging Opportunities Fund (1.16 percent) were the two top PMS funds in June. Karvy Capital’s Excel Fund (0.85 percent), Scient Capital’s Aries Mid Yield Fund (0.82 percent), and Estee Advisors’ I-Alpha Fund (0.16 percent) were the other top PMS funds.