Money Grow Asset’s Strategy Down 22% as 97% of PMS Slip
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- Money Grow Asset Pvt Ltd reported its small‑midcap strategy fell 22% in March, the steepest decline among over 500 Indian PMS strategies.
- ASK Investment Managers Ltd saw its ASK Financial Opportunities Portfolio, which tracks the Nifty 50 TRI, drop 18% in the month.
- Omniscience Capital Advisors posted double‑digit losses across its Omni Emperors, Omni Victors, and Omni Centurions strategies in March.
- Wallfort Fund Management LLP posted a double‑digit decline in its India Contra Equity Fund and Diversified Fund in March.
- DRChoksey FinServ saw its Alpha Invest strategy fall 13% month‑on‑month in March.
- Qode Advisors LLP was one of only 15 strategies (≈3%) to post a gain, with its Qode Growth Fund delivering a 1.34% return in March.
- Nifty index fell 11% in March, its sharpest drop since the Covid‑19 pandemic, contributing to the broader market downturn that hurt PMS performance.
Why it matters: Investors in equity‑focused PMS portfolios suffered steep losses, with most strategies dropping double digits, while debt‑oriented funds and a lone growth fund from Qode Advisors managed modest gains; the market’s 11% Nifty plunge amplified the downturn, underscoring the heightened risk for equity‑heavy managers in volatile conditions.
