Growth and Value
Portfolio Management ServiceStrategy AUM
Trailing 1Y return
Trailing Returns
APMI · annualised beyond 1Y · as of 01 May 2026
- 1M
- +0.93%
- 3M
- -1.01%
- 6M
- -2.75%
- 9M
- —
- 1Y
- +2.09%
- 2Y
- +2.44%
- 3Y
- +13.73%
- 4Y
- +13.77%
- 5Y
- +9.39%
- Since Inception
- +13.40%
- Strategy AUM
- ₹85 Cr
- Benchmark
- Nifty 50 TRI
Performance vs Benchmark
Strategy vs Nifty 50 TRI · trailing returns, % · alpha = excess
| Period | Strategy | Benchmark | Alpha |
|---|---|---|---|
| 1 Month | +0.93% | −1.72% | +2.65% |
| 3 Months | −1.01% | −6.30% | +5.29% |
| 6 Months | −2.75% | −9.87% | +7.12% |
| 1 Year | +2.09% | −3.84% | +5.93% |
| 2 Years | +2.44% | +3.35% | −0.91% |
| 3 Years | +13.73% | +9.53% | +4.20% |
| 4 Years | +13.77% | +10.37% | +3.40% |
| 5 Years | +9.39% | +9.87% | −0.48% |
| Since Inception | +13.40% | +13.36% | +0.04% |
Monthly Performance
Growth of ₹100 invested · month-on-month · 13 months
| Month | Strategy | Benchmark | Alpha |
|---|---|---|---|
| May-2026 | +0.93% | −1.72% | +2.65% |
| Apr-2026 | +7.88% | +7.49% | +0.39% |
| Mar-2026 | −9.09% | −11.30% | +2.21% |
| Feb-2026 | +3.19% | −0.51% | +3.70% |
| Jan-2026 | −2.93% | −3.04% | +0.11% |
| Dec-2025 | −1.92% | −0.28% | −1.64% |
| Nov-2025 | +0.00% | +1.92% | −1.92% |
| Oct-2025 | +2.51% | +4.62% | −2.11% |
| Sep-2025 | +0.38% | +0.77% | −0.39% |
| Aug-2025 | −1.55% | −1.21% | −0.34% |
| Jul-2025 | −1.32% | −2.77% | +1.45% |
| Jun-2025 | +5.01% | +3.37% | +1.64% |
| May-2025 | +4.06% | +1.92% | +2.14% |
Strategy Details
APMI fact sheet
- Inception
- 01 Mar 2005
- Age
- 21.3 Years
- Min. investment
- ₹50,00,000
- Turnover (1Y)
- 2.24×
- Turnover (1M)
- 0.24×
- Product
- Equity
as of 31 May 2026
Asset classes
Investment objective
The investment objective of this Investment Approach is to generate long term capital appreciation by following broad based 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 (�?�¢??ETFs�?�¢??). The emphasis will be investing in those companies that are predominantly Large-cap and Larger Mid-cap shares perceived to be �?�¢??attractively valued�?�¢?? from the point of view of their long-term growth prospects and potential. Examples of the factors due to whichthe companies may be perceived as attractively valued are listed below:�?�¯?�?�· Companies that appear to have under-valued assets.19�?�¯?�?�· Companies in niche segments with scale-up potential.�?�¯?�?�· Companies going through a temporary crisis but their underlying business structure and outlook appears to be robust.�?�¯?�?�· Changes in management, restructuring and shifts in business and economic conditions.�?�¯?�?�· Potential for value enhancements from strategic sale, de-regulation, economic legislation, reform thrusts, industry shakeouts, etc.�?�¯?�?�· Quality of management.�?�¯?�?�· Market leader with consistent growthOther factors the Portfolio Manager may consider when choosing a stock for investment in this portfolio could be:�?�¯?�?�· Sustainable Earnings visibility �?�¢?? Consistency of returns and quality of profits�?�¯?�?�· Businesses with strong moats�?�¯?�?�· Strong operating cash flows�?�¯?�?�· Sectors capable of high growth�?�¯?�?�· High Return on capital employed [ROCE] and Returns on Equity [ROE]�?�¯?�?�· Credible Management Track record�?�¯?�?�· Stocks capable of high earnings growth and compounding including through competitive advantages in terms of pricing/ cost/ technology used �?�¯?�?�· Evidence of growing market share gains and new business penetration�?�¯?�?�· Valuations in a position to be strongly re-rated along with high growth.�?�¯?�?�· Whether stock is in investment phase aligned with high-growth market opportunity.�?�¯?�?�· Contra / Special situations.�?�¯?�?�· Capability of revival. Stock price down substantially from 52 week / All time highs�?�¯?�?�· Strong brands, products, market position.�?�¯?�?�· 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
- Growth and Value
- Benchmark
- Nifty 50 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.