India’s Top Portfolio Managers Lag Benchmarks In October

The top 60 portfolio managers by assets tracked by BloombergQuint posted an average return of 1.05% in October. That compared to 4% and 3.5% gain in S&P BSE Sensex and Nifty 50, respectively, during the month.

The underperformance in October stemmed from subdued returns by the small- and mid-cap stocks. The Nifty Midcap 100 rose 0.47% in October, while the broader Nifty 500 rose 2.6%, lagging Nifty 50 and Sensex. The Nifty Midcap 100 index has risen 26.4% in the last six months.

The top 60 portfolio managers—that collectively manage Rs 1.25 lakh crore or 81% of the industry's assets—have returned on an average 3.8% gains so far this year, beating the benchmarks that have been negative. Their investors earned 21% on an average in the last six months.

Three portfolio managers—Clubmillionaire Financial, Sameeksha Capital and Marcellus Investment Managers—outperformed the Sensex in October.

Here’s how India’s top 60 portfolio managers performed in October and so far this fiscal…