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.