Midcap and smallcap schemes managed by portfolio management services firms saw negative returns in February. Equitree Capital Advisors, Saurabh Mukherjea, Aequitas Investment Consultancy, Ambit Investment Advisors, Geojit Financial Services, Equirus Wealth, PGIM India, and Care Portfolio Managers were among the firms that gave negative returns.
Aequitas Investments has seen significant growth in its assets under management (AUM) over the years. A crore invested in 2013 has now grown to 25 crores, with a compounded annual growth rate (CAGR) of 35% over the last 11 years. The PMS portfolio has also delivered impressive returns, with more than 90% growth in 2023 alone. However, the company is cautious about the current market conditions, as valuations are high and opportunities for finding multi-baggers are limited. The focus for the future will be on fiscal consolidation, infrastructure spending, and sectors like capital goods, metal, and mining.
Siddhartha Bhaiya says: "We believe that the capex cycle play could be a long structural play, particularly in India. We are amidst a big infrastructure growth cycle which is not only the need of the hour for our country but is also encouraged by strong policy support. The capital goods sector had been an ignored sector of the last decade wherein there was hardly any capacity addition and a lot of inefficient players went out of business. "
An analysis of his portfolio shows that the investor s best performing stock is Tata Motors DVR which is up 138% so far in the calendar year. Rekha owned 1.92% stake in the company at the end of the September quarter.