Run by Hem Securities, India Rising SME Stars fund has topped the list of PMS funds, used by HNIs to park surplus capital, in the month of June, shows data compiled by PMS Bazaar.
Overall, funds betting on small and midcaps dominated the list of front-benchers in the list where 90 other funds earned double-digit returns.
Money Grow Asset’s small and midcap fund gave 19% return. Other toppers include Wallfort PMS’ Diversified Fund, Equitree Emerging Opportunities Fund, Equirus Long Horizon Fund, Accuracap Dynamo Fund and Bonanza Multicap Fund.
Among star fund managers, Saurabh Mukherjea-run Marcellus’ smallcap fund Little Champs gained over 10.4%. Saurabh’s midcap-focussed Rising Giants Portfolio went up around 9% while his Kings of Capital (financials) portfolio recorded an upside of about 10%. His flagship fund Consistent Compounders outperformed Nifty with 8.5% return during the month.
Sunil Singhania’s Abakkus-run Emerging Opportunities fund, which focuses on smallcaps and midcaps, reported a gain of 10.24%.
Shyam Shekhar’s ithought-run smallcap fund Vrddhi also went up over 10%, Samir Arora’s Helios India Rising fund saw a gain of 5.75% while Devina Mehra-owned First Global’s India Super 50 fund went up 5.83%.
In the last one month, Nifty has rallied around 4.5% with smallcaps and midcaps outshining bluechips despite valuation concerns being flagged by veterans.
In terms of valuations, Nifty now trades at 20.5x on a 12-month forward earnings basis. “While the valuations may look premium compared to other markets globally, they are backed by superior earnings growth. The Nifty 50 earnings – after growing strongly in the last 4 years – are expected to grow at 14-15% between FY25 and FY26. The earnings growth has been backed by improving capital efficiency as well,” said Sumit Jain of ASK Investment.
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