March Meltdown: 97% of PMS Strategies Report Significant Losses Amid Market Turmoil
PMS Tracker: March meltdown ensured 97% of strategies sank up to 22%; Money Grow, ASK Investment bled the most
The Economic TimesImage: The Economic Times
In March, Indian stock markets faced a severe downturn, with 97% of 518 tracked Portfolio Management Services (PMS) strategies reporting negative returns of up to 22%. The decline was largely attributed to the ongoing Iran-Israel/US conflict, which triggered widespread sell-offs across various market segments.
- 0197% of PMS strategies reported negative returns in March.
- 02The sharpest decline of 22% was seen in Money Grow Asset's small-midcap strategy.
- 03ASK Investment's portfolio also fell by 18%.
- 04Only 3% of strategies maintained their February levels, primarily debt-oriented.
- 05The Nifty index dropped 11%, marking its steepest decline since the COVID-19 pandemic.
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The Indian stock market experienced a significant downturn in March, with 97% of the 518 Portfolio Management Services (PMS) strategies tracked by PMSBazaar reporting negative returns, some as steep as 22%. The turmoil was primarily driven by the Iran-Israel/US conflict, which led to a broad sell-off across all market categories, including smallcap, midcap, and largecap funds. Notably, Money Grow Asset Pvt Ltd's small-midcap strategy suffered the most, plummeting 22%, while ASK Investment Managers Ltd's 'ASK Financial Opportunities Portfolio' saw an 18% decline. Over 500 strategies reported losses, with 315 of them experiencing double-digit declines. Only 15 strategies managed to hold steady, with Qode Advisors LLP's Qode Growth Fund being the sole strategy to yield over 1% gains. The Nifty index fell 11%, its steepest drop since the onset of the COVID-19 pandemic, breaking its favorable seasonal trend.
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The downturn in PMS strategies indicates a challenging investment climate, affecting investors' portfolios and potentially leading to a reassessment of investment strategies.
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