Top 10 PMS in India by 1-Month Return as of March 2026

In a brutal March 2026 for Indian equities — Nifty down ~4-5%, IT in freefall, and crude surging on West Asia tensions — these 10 Portfolio Management Services (PMS) funds delivered the best 1-month returns.

Below: the full ranked list with AUM, category, strategy and returns across 1M, 6M, 1Y, 3Y, 5Y and Since Inception.

HOW THIS WAS BUILT

• Funds ranked by absolute 1-month return for March 2026.
• AUM filter: > ₹50 Cr. Source: APMI disclosures.
• Returns up to 1 year are absolute; longer-period returns are annualised using TWRR (Time-Weighted Rate of Return).
• NA = not applicable (fund too young for that bucket).

Market Context: Why March 2026 Mattered

March 2026 capped FY26's sharpest yearly equity decline since COVID. The Nifty slid ~4-5% in the month alone, driven by IT-sector selling, a weaker rupee, crude spiking on Iran-US tensions, and global rate-cut uncertainty. Most PMS schemes lost 7-15%. The funds below didn't - a mix of value, quant, arbitrage, mid-cap PE-style and multi-asset strategies that either preserved or grew capital.

PMS RETURNS FOR KYNG KING CAPITAL PMS

KING is a concentrated value PMS rooted in Graham-Buffett principles — GARP picks with economic moats and a clear margin of safety. Zero management fees; performance fees kick in only above 10% CAGR, so the manager eats only when investors do. Founded by Dr. Siddharth K J (ex-KAF Capital). On a ₹217 Cr book, that alignment delivered the single best 1-month return in the APMI March 2026 sheet.

Deutsche Bank PMS returns March 2026

Deutsche Bank India's flagship multi-cap PMS blends top-down themes with bottom-up picking, targeting quality businesses that can fund their own growth through internal cash. Held +1.20% in March while the Nifty cracked 4-5%. The real story is consistency: +25.99% 1Y, +19.91% 3Y, +17.72% SI — institutional-grade discipline across cycles.

Dezerv PMS March returns 2026

Managed by Kumarpal Jain (CFA), Dezerv's arbitrage PMS exploits price differentials rather than directional bets. Delivered +0.57% 1M and +7.31% SI while equity PMS took a beating. For HNI investors who want equity-taxation benefits with bond-like drawdown, March 2026 was the month this product proved its thesis.

Motilal Oswal PMS Returns March 2026

Motilal Oswal Alternates' mid-market PMS built on the QGLP framework — Quality, Growth, Longevity, Price. The PE vertical has a 20-year, 50-investment track record with a ~5x gross MOIC and 26% gross IRR. Returned 0.00% in March when the index dropped 4-5% — the textbook definition of capital preservation in action.

Bay Capital PMS Returns March 2026

Bay Capital (est. 2006) runs a concentrated 15-20 stock book led by Nikunj Doshi (34+ years in markets). The PBH mandate is new, but its March showing — down just -0.34% against a 4-5% index fall — is exactly what high-conviction, low-churn equity portfolios are designed to deliver.

Oaks PMS Returns March 2026

Oaks (est. 2015) backs scalable consumer businesses led by proven entrepreneurs. The co-investment product lets investors ride alongside the firm's conviction plays on a ₹77 Cr book. Only -0.47% in March and +0.76% 3Y — a patience portfolio that tends to shine when retail is panicking.

Signature PMS March 2026 Returns

A newer entrant with limited history on the APMI sheet (SI: -1.19%). In a month where peers lost 7-15%, Signature's -1.08% is a quiet win. Small, concentrated, and optimised for downside control — early data suggests a manager focused on drawdown management, not index-timing.

QODE All Weather PMS Returns March 2026

Built by co-founder Rishabh Nahar, All Weather is a quantitative ETF strategy tilted toward low-correlated sleeves — momentum, low-volatility, gold. Look past the -1.93% March tick: +17.45% 6M, +36.91% 1Y, +27.69% SI. In an FY shaped by Iran-US tensions, oil shocks and IT selloffs, systematic multi-asset has had its moment.

Key Takeaways

• Diversified strategies dominated the top rankings, highlighting the value of balanced portfolios during volatile market conditions.
• Focused portfolios backed by disciplined investment processes helped limit drawdowns and preserve capital.
• Arbitrage and quantitative strategies performed well, benefiting from systematic and market-neutral approaches.
• Strong short-term returns do not necessarily indicate long-term success, making consistent performance and strategy equally important.