Pharma, Small Cap-Focused Portfolio Managers Beat The Rest In April
Portfolio managers with exposure to pharma, healthcare, small and mid caps gained as these categories outperformed the benchmarks in April when a deadlier second wave of Covid-19 kept investors on the edge.
The top 60 portfolio managers on average returned 1.06% gains in April, according to data collated by BloombergQuint from the website of the Securities and Exchange Board of India.
But investment approaches benchmarked to the Nifty Pharma and S&P BSE Healthcare gained more and were among the biggest gainers, followed by small-cap portfolios. Schemes of ICICI Prudential Asset Management Co., Kotak Asset Management Co. and Centrum Broking outperformed.
The S&P BSE Healthcare and Nifty Pharma Index rose the most in April, followed by small- and mid-cap gauges.
The market regulator last year changed the format of disclosures made by portfolio managers to incorporate the investment approach. It now requires fund managers to disclose scheme-wise inflows and outflows, besides monthly and yearly returns.
The top 60 portfolio managers tracked by BloombergQuint managed Rs 1.6 lakh crore in equity and structured products. This excludes employee provident fund schemes managed by SBI Fund Management and Nippon Life Asset Management.
Here are the top-performing schemes of April:
The portfolio managers, excluding SBI Fund Management and Nippon Life AMC, saw a combined net inflow of Rs 739 crore in April. Of the 470 investment approaches tracked by BloombergQuint, 115 saw net inflows.
Investors pumped in a cumulative Rs 1,160 crore into the top 10 schemes by inflows.
Here are the schemes with the biggest inflows in April:
More than 140 schemes saw net outflows. Investors withdrew Rs 484 crore from the top 10 such schemes. This excludes the outflows from the provident fund portfolios.
Here are the schemes that saw the highest outflows in April:
Top 25 schemes (excluding those managed by SBI Fund Management and Nippon Life AMC) together had Rs 1.07 lakh crore worth of assets under management--about 67% of the equity assets managed by the top 60 portfolio managers.
Here are the biggest schemes by assets: