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Top PMS Performers (Feb 2025): Best Large Cap, Mid Cap & Thematic Funds That Outperformed Benchmarks
Introduction
Portfolio Management Services (PMS) have become a go-to investment avenue for high-net-worth individuals (HNIs) seeking actively managed, high-growth investment strategies. In this blog, we analyze the top-performing PMS strategies over the past 3 years (Feb 2025), across categories such as Large Cap, Mid Cap, Multi Cap, Thematic, and Multi-Asset portfolios.
These funds are compared against benchmark indices like BSE 500 TRI and S&P BSE 500 TRI, which provided 14.2% CAGR over 3 years.
Top Performing PMS Strategies – Large Cap
Large Cap PMS strategies focus on blue-chip stocks, providing stability along with steady growth. Here are the best performers:
| Fund Name | Launch Date | 1-Year Return | 3-Year Return | 5-Year Return |
| ACE15 | Dec 2017 | 7.15% | 19.59% | 19.65% |
| ICICI Prudential PMS Large Cap Strategy | Mar 2009 | 13.91% | 18.22% | 21.72% |
| Renaissance Opportunities Portfolio | Jan 2018 | 12.35% | 16.36% | 20.32% |
| Carnelian Capital Compounder Strategy | May 2019 | 11.51% | 16.16% | 17.44% |
| Right Horizons – India Business Leader | Nov 2012 | 11.20% | 12.53% | 17.28% |
Key Takeaways:
- ACE15 led the Large Cap category with an impressive 19.59% CAGR over 3 years, outperforming the BSE 500 TRI benchmark (14.2%).
- ICICI Prudential PMS Large Cap Strategy delivered consistent long-term returns with 21.72% over 5 years.
- Renaissance Opportunities Portfolio also maintained strong performance with 20.32% CAGR over 5 years.
Top Performing PMS Strategies – Mid-Cap
Mid-Cap PMS strategies offer higher growth potential with moderate volatility. The best 3-year performers include:
| Fund Name | Launch Date | 1-Year Return | 3-Year Return | 5-Year Return |
| Green Lantern Growth Fund | Dec 2017 | 28.01% | 43.90% | 46.96% |
| ACE Midcap | Dec 2017 | 2.64% | 28.51% | 27.63% |
| NAFA CleanTech Portfolio | Sep 2021 | 24.11% | 25.73% | NA |
| AAA Budding Beasts | Jan 2021 | 17.99% | 23.92% | NA |
| Renaissance Midcap Portfolio | Jan 2018 | 0.56% | 18.15% | 21.08% |
Key Takeaways:
- Green Lantern Growth Fund dominated with a massive 43.90% 3-year return and 46.96% over 5 years.
- ACE Midcap also performed strongly, delivering 28.51% CAGR over 3 years.
- Sustainable investing showed promise, with NAFA CleanTech Portfolio providing 25.73% CAGR over 3 years.
Top Performing PMS Strategies – Diversified & Multi-Cap
For investors looking for a blend of large, mid, and small-cap exposure, the following multi-cap strategies stood out:
| Fund Name | Launch Date | 1-Year Return | 3-Year Return | 5-Year Return |
| Samvitti PMS Active Alpha Multi Cap | Apr 2021 | 14.73% | 36.49% | NA |
| Carnelian YNG Strategy | Jan 2022 | 8.38% | 34.42% | NA |
| Invest Growth Fund | Jan 2020 | 0.51% | 34.23% | 34.04% |
| ACE Multicap | Aug 2018 | 2.48% | 33.05% | 30.68% |
| Stallion Asset Core Fund | Oct 2018 | 42.06% | 32.75% | 32.39% |
Key Takeaways:
- Samvitti PMS Active Alpha Multi Cap led the category with 36.49% 3-year CAGR.
- Carnelian YNG Strategy and Invaset Growth Fund were close contenders, delivering over 34% CAGR.
Top Performing PMS Strategies – Thematic Investing
Thematic funds focus on specific trends such as dividend yield, MNC stocks, and healthcare. Here are the best-performing funds:
| Fund Name | Launch Date | 1-Year Return | 3-Year Return | 5-Year Return |
| Wallfort Diversified Fund | Nov 2018 | 50.04% | 37.57% | 40.24% |
| Counter-Cyclical Diversified Long-term Value | Jul 2019 | 25.21% | 37.51% | 66.39% |
| Equities Emerging Opportunities | Oct 2017 | 31.21% | 35.70% | 39.27% |
| Unique Strategic Fund | Dec 2019 | 18.15% | 29.86% | 34.17% |
| InCred Healthcare Portfolio | Feb 2021 | 33.94% | 24.39% | NA |
Key Takeaways:
- Wallfort Diversified Fund was the best thematic performer with a 50.04% return over the last year and 40.24% over 5 years.
- Counter-cyclical diversified Long-Term Value delivered a staggering 66.39% over 5 years, highlighting the potential of contrarian investing.
- Healthcare investing showed strength, with InCred Healthcare Portfolio posting a 24.39% CAGR over 3 years.
Benchmark Performance Comparison
To assess these funds’ relative performance, let’s compare against major market indices:
| Benchmark | 1-Year Return | 3-Year Return | 5-Year Return |
| BSE 500 TRI | 9.7% | 14.20% | 18.30% |
| S&P BSE 500 TRI | 9.7% | 14.20% | 18.20% |
Key Takeaways:
- Several PMS funds delivered significantly higher returns than benchmarks, particularly in the mid-cap and Thematic categories.
- Multi-cap and Thematic funds performed exceptionally well, indicating strong stock selection and active management.
Conclusion
For investors seeking alpha beyond traditional indices, the top-performing PMS funds have demonstrated outstanding growth across different strategies:
- Mid Cap funds like Green Lantern Growth Fund delivered 43.90% CAGR
- Thematic funds like Counter Cyclical Diversified Long-Term Value posted 66.39% over 5 years
- Large Cap PMS strategies provided stable, long-term gains above market benchmarks
Looking to diversify your portfolio with high-performing PMS funds? Analyze your risk appetite and investment goals before choosing the right strategy.
