Mid Caps Continue To Gain, And So Do Portfolio Managers In September
India’s top portfolio managers clocked gains for the fourth straight month even as the benchmarks suffered losses in September.
The top 60 portfolio managers by assets tracked by BloombergQuint posted an average return of 1.7% last month compared with a drop of 1.45% and 1.23% in the Sensex and Nifty 50, respectively. That came as the mid-cap stocks held by most of them continued to recover.
Still, the average returns of the portfolio managers—that collectively manage Rs 1.22 lakh crore, or nearly 81% of the industry assets—could not beat the mid-cap index. The NSE Nifty Midcap 100 rose 1.80% in September even as the broader Nifty 500 fell 0.32%.
The run-up in the mid-cap stocks helped portfolio managers recoup losses suffered at the beginning of the year as equities fell and investors pulled out money after the coronavirus outbreak.
The Midcap 100 Index has risen 15.5% and 45.1% in the last three and six months, outperforming the benchmarks.
In the last six months of the ongoing financial year, Nine Rivers Capital has given 93.6% returns, followed by Karma Capital and Unifi Capital.
Here’s how India’s top 60 portfolio managers performed in September and so far this year…