Focus
Portfolio Management ServiceStrategy AUM
Trailing 1Y return
Trailing Returns
APMI · annualised beyond 1Y · as of 01 May 2026
- 1M
- +0.50%
- 3M
- +0.51%
- 6M
- +0.29%
- 9M
- —
- 1Y
- +3.46%
- 2Y
- +3.43%
- 3Y
- +15.42%
- 4Y
- +15.21%
- 5Y
- +10.65%
- Since Inception
- +15.07%
- Strategy AUM
- ₹341 Cr
- Benchmark
- BSE 500 TRI
Performance vs Benchmark
Strategy vs BSE 500 TRI · trailing returns, % · alpha = excess
| Period | Strategy | Benchmark | Alpha |
|---|---|---|---|
| 1 Month | +0.50% | −0.17% | +0.67% |
| 3 Months | +0.51% | −2.34% | +2.85% |
| 6 Months | +0.29% | −5.39% | +5.68% |
| 1 Year | +3.46% | −0.07% | +3.53% |
| 2 Years | +3.43% | +4.14% | −0.71% |
| 3 Years | +15.42% | +13.46% | +1.96% |
| 4 Years | +15.21% | +13.31% | +1.90% |
| 5 Years | +10.65% | +12.29% | −1.64% |
| Since Inception | +15.07% | +13.81% | +1.26% |
Monthly Performance
Growth of ₹100 invested · month-on-month · 13 months
| Month | Strategy | Benchmark | Alpha |
|---|---|---|---|
| May-2026 | +0.50% | −0.17% | +0.67% |
| Apr-2026 | +8.82% | +10.38% | −1.56% |
| Mar-2026 | −8.10% | −11.37% | +3.27% |
| Feb-2026 | +3.67% | +0.45% | +3.22% |
| Jan-2026 | −2.14% | −3.34% | +1.20% |
| Dec-2025 | −1.63% | −0.24% | −1.39% |
| Nov-2025 | −0.64% | +0.96% | −1.60% |
| Oct-2025 | +2.36% | +4.27% | −1.91% |
| Sep-2025 | +0.39% | +1.24% | −0.85% |
| Aug-2025 | −1.48% | −1.75% | +0.27% |
| Jul-2025 | −2.36% | −2.71% | +0.35% |
| Jun-2025 | +5.05% | +3.68% | +1.37% |
| May-2025 | +5.21% | +3.54% | +1.67% |
Strategy Details
APMI fact sheet
- Inception
- 15 Oct 2012
- Age
- 13.7 Years
- Min. investment
- ₹50,00,000
- Turnover (1Y)
- 2.11×
- Turnover (1M)
- 0.27×
- Product
- Equity
as of 31 May 2026
Asset classes
Investment objective
The objective of the Investment Approach is to generate capital appreciation by following Multi-Cap portfolio investment strategy, where the Portfolio Manager will focus on investing in listed equity shares of Indian companies and equity related instruments/units of the Exchange Traded Funds (â??ETFsâ??). The emphasis will be investing in those companies that are predominantly large, larger mid-cap shares and some beaten down shares which may be smaller in nature perceived to be â??under-valuedâ?? from the point of view of their longer-term growth prospects and potential. The aim is to focus on good quality businesses and managements, which demonstrate potential to grow their businesses over the longer term. The focus will be to hold equity shares of atleast 15listed companies and/or units of the ETFs in the Portfolio. Factors the Portfolio Manager may consider when choosing a stock for investment in this portfolio could be:ï?· Sustainable Earnings visibility â?? Consistency of returns and quality of profitsï?· Businesses with strong moatsï?· Strong operating cash flowsï?· Sectors capable of high growthï?· High Return on capital employed [ROCE] and Returns on Equity [ROE]ï?· Credible Management Track recordï?· Stocks capable of high earnings growth and compounding including through competitive advantages in terms of pricing/ cost/ technology used ï?· Evidence of growing market share gains and new business penetrationï?· Valuations in a position to be strongly re-rated along with high growth.ï?· Whether stock is in investment phase aligned with high-growth market opportunity.ï?· Contra / Special situations.ï?· Capability of revival. Stock price down substantially from 52 week / All time highsï?· Strong brands, products, market position.22ï?· Quality management with track record of strong earnings growth.
Fund Managers
1 manager
Name
Ratish Varier
Fees & Investment
As disclosed to APMI
- Min. investment
- ₹50,00,000
- Fixed fees
- Not disclosed
- Variable fees
- Not disclosed
- Exit load
- Not disclosed
APMI does not publish a fee schedule for this strategy — confirm fees with the portfolio manager.
PMS Industry — SEBI
Latest monthly aggregate
- Total PMS AUM
- ₹44.11 Lakh Cr
- Total clients
- 2,23,279
- Discretionary
- ₹37.37 Lakh Cr
- Period
- july-2026
Industry AUM by asset class (top 5)
- Plain Debt Listed₹28.98 Lakh Cr
- Listed Equity₹7.60 Lakh Cr
- Plain Debt Unlisted₹5.00 Lakh Cr
- Mutual Funds₹1.93 Lakh Cr
- Others₹40,423 Cr
About
- Provider
- J M Financial Ltd
- Strategy
- Focus
- Benchmark
- BSE 500 TRI
- Source
- APMI
Strategy performance, AUM, fees and fund-manager details are sourced from APMI (Association of Portfolio Managers in India); industry aggregates are from SEBI’s monthly PMS disclosures. Returns beyond one year are annualised; past performance is not indicative of future results, and a PMS strategy carries no capital guarantee. For information only, not investment advice.