Seven of 10 schemes, or 154 of the 212 schemes, underperformed the market among a segment of investment vehicles aimed at the wealthy.
Only 27.4 per cent of portfolio management service (PMS) providers delivered higher returns than their respective benchmarks, shows an analysis by Business Standard of data from tracker PMS Bazaar. PMS investments have a minimum ticket size of Rs 50 lakh, and the industry manages over Rs 2.4 trillion worth of equity assets, besides an additional Rs 21 trillion in debt.
The data looked at 212 schemes across market segments for which information was available for the past year.
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