Paisa Vaisa with Anupam Gupta PMS Masterclass: Finding Multi-Baggers in India's Small & Mid-Cap Stocks
Jun 30, 2025
Join Sheetal Malpani, CIO of Tamohara Investment Managers, as she shares her expertise in Portfolio Management Services. She explains the advantages of customized portfolios for high-net-worth individuals and dives into the rising interest in PMS post-COVID. Learn about the pivotal role of on-ground research in discovering hidden market opportunities, plus the importance of professional management in today’s investment landscape. Malpani also discusses the promising potential of India's small and mid-cap stocks and introduces emerging investment avenues like Special Investment Funds.
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PMS Targets Unique Company Segment
- PMS targets smaller, evolving companies often ignored by mutual funds due to liquidity issues.
- Equity acceptance post-2014 regime change bolstered demand for such differentiated products.
PMS vs Mutual Funds Explained
- PMS operates like a personalized investment "Uber" compared to mutual funds as "mass transit."
- PMS can invest in less liquid small-cap stocks that mutual funds typically avoid due to size and liquidity constraints.
Different Return Expectations
- PMS investors expect consistent alpha returns and top-quartile performance regardless of market phase.
- Mutual funds are viewed as beta products with realistic, benchmark-like return expectations.