The Portfolio Managers Who Beat The Benchmarks
India’s top portfolio managers on average underperformed the equity benchmarks in 2020-21 that saw an unprecedented rebound even as the pandemic raged.
Top 60 portfolio managers on average returned 55.59% gains in the year ended March, according to data collated by BloombergQuint from the website of the Securities and Exchange Board of India.
By comparison, the S&P BSE Sensex rose 66.3%, the Nifty 50 jumped 70.87%, the Nifty Midcap 100 surged 102.4%, and S&P BSE SmallCap soared 114.9%. Even the broader market Nifty 500 gave higher returns at 76%.
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 1.53 lakh crore of money in equity and structured products. This is net of Rs 8.3 lakh crore managed for provident fund trusts mainly by SBI Fund Management and Nippon Asset Management Co.
Of the 60, 28 portfolio recorded net inflows totalling Rs 13,075 crore in FY21 (excluding SBI Fund Management’s Rs 40,322 crore inflow).
Thirty-one saw a net outflow worth Rs 10,822 crore during FY21.
Of 154 schemes or investment approaches with assets worth over Rs 100 crore (analysed from more than 460), 66 outperformed the Sensex.