Sundaram Alternate Assets
Sundaram Voyager PMS
A flexible multi-cap PMS strategy built to compound wealth through high-conviction stocks across the market-cap curve, combining structural businesses with selective cyclical and turnaround opportunities.
July 2026 update
Since inception CAGR
15.6%
Value of Rs 1 Cr at launch
Rs 4 Cr
1Y strategy return
28.0%
Market cap mix
58% mid/small
Objective
To seek long-term capital appreciation with investing in stocks across the cap curves.
Since inception
15.6%
Strategy CAGR vs 14.4% for S&P BSE 500 TRI
2026 YTD
21.8%
Calendar year performance through July 2026
1 year return
28.0%
Vs 3.0% for S&P BSE 500 TRI
Suggested horizon
3+ years
Designed for long-term PMS investors
Fund details
Flexible multi-cap PMS for long-term compounding
Voyager is positioned for investors seeking an actively managed portfolio across large, mid and small-cap companies with a flexible allocation framework.
Strategy
Flexible multi-cap PMS
Monthly update
July 2026
Data as of
July 31, 2026
Investment horizon
Above 3 years
Inception
November 2016
Benchmark
S&P BSE 500 TRI
Fund manager
Mr. Darshan Engineer
Weighted average market cap
Rs 1,52,728 Cr
Performance
Updated return snapshot as of July 31, 2026
Returns are shown against S&P BSE 500 TRI, as disclosed in the July 2026 product note.
| Period | Strategy | Benchmark | Excess |
|---|---|---|---|
| SI | 15.6% | 14.4% | +1.1% |
| 5Y | 16.7% | 12.4% | +4.4% |
| 4Y | 20.1% | 13.3% | +6.9% |
| 3Y | 23.1% | 11.9% | +11.2% |
| 2Y | 19.3% | 0.4% | +18.9% |
| 1Y | 28.0% | 3.0% | +25.0% |
| 6M | 26.5% | 2.0% | +24.5% |
| 3M | 9.8% | 3.8% | +6.0% |
| 1M | -1.8% | 2.2% | -4.0% |
Portfolio allocation
Sector and market-cap positioning
The July 2026 portfolio is led by Capital Goods and Financial Services, with a balanced allocation across large, mid and small-cap companies.
Sector allocation
Note: Numbers may not add up due to rounding.
Market capitalization
Note: Numbers may not add up due to rounding.
Risk-return measures
Performance measures since inception
The product note shows a strategy arithmetic mean of 15.9, beta of 0.9, and alpha of 1.7.
| Instrument | Strategy | Benchmark |
|---|---|---|
| Arithmetic Mean | 15.9 | 14.8 |
| Standard Deviation | 17.0 | 16.1 |
| Beta | 0.9 | - |
| Sharpe Ratio | 0.5 | 0.5 |
| Correlation | 0.9 | - |
| Alpha | 1.7 | - |
| Tracking Error | 8.0 | - |
| Up capture Ratio | 110.0 | - |
| Down capture Ratio | 112.2 | - |
Capital growth
Value of Rs 1 crore invested at launch
Since November 2016, the strategy value disclosed in the product note is INR 4 Cr versus INR 3.7 Cr for the benchmark.
Strategy
Rs 4 Cr
Benchmark
Rs 3.7 Cr
Portfolio
Top holdings
The leading disclosed holdings include precision engineering, power equipment, financial services, healthcare, and lending names.
MTAR Technologies Limited
GE Vernova T&D India Limited
Cholamandalam Investment & Finance Co. Ltd.
Neuland Laboratories Ltd
CreditAccess Grameen Limited EQ
Contributors
Key contributors
The top contributors reflect long-term gains in select portfolio holdings.
| Symbol name | Cost | Price | Gain |
|---|---|---|---|
| MTAR Technologies Limited | 1,494 | 5,726 | +283% |
| Hitachi Energy India Limited | 12,393 | 32,175 | +160% |
| Aster DM Healthcare Ltd | 376 | 822 | +119% |
Positioning
Sector bets versus benchmark
The portfolio is meaningfully overweight Capital Goods and underweight several benchmark-heavy sectors.
| Sector | Overweight / Underweight |
|---|---|
| Capital Goods | +26.8 |
| Healthcare | +3.9 |
| Consumer Services | +2.6 |
| Automobile and Auto Components | +1.9 |
| Information Technology | +0.6 |
| Financial Services | -5.4 |
| Fast Moving Consumer Goods | -5.6 |
| Oil, Gas & Consumable Fuels | -7.1 |
Investment framework
Two-bucket portfolio construction
The strategy blends steady structural stories with cyclical and turnaround opportunities selected through bottom-up research.
Structural stories
Companies with durable growth visibility and the ability to compound across market cycles.
Cyclical and turnaround opportunities
Selective businesses where earnings recovery, valuation reset, or improved execution can create upside.
Flexible cap curve
Allocation can move across large, mid and small caps based on opportunity and risk-reward.
Key features
Themes used in portfolio construction
The product note highlights a diversified target portfolio, flexible allocation, and wealth multiplier themes.
Diversified target portfolio with 20-25 stocks
Flexible cap curve allocation
Structural stories
Cyclical and turnaround opportunities
Financialisation of the economy
Consumption Czars
Phygital Bluechips
Export Voyagers
Manufacturing Maestros
Calendar years
Calendar year performance
Calendar year returns are shown since the strategy's November 2016 inception period.
| Year | Strategy | Benchmark | Excess return |
|---|---|---|---|
| 2016 | -0.9% | -1.4% | +0.5% |
| 2017 | 26.1% | 37.6% | -11.5% |
| 2018 | -8.4% | -1.8% | -6.6% |
| 2019 | 15.2% | 9.0% | +6.2% |
| 2020 | 10.3% | 18.4% | -8.1% |
| 2021 | 44.4% | 31.6% | +12.8% |
| 2022 | -5.6% | 4.8% | -10.4% |
| 2023 | 18.4% | 26.5% | -8.1% |
| 2024 | 34.0% | 15.8% | +18.2% |
| 2025 | 5.8% | 7.6% | -1.8% |
| 2026 YTD | 21.8% | -1.4% | +23.2% |
Risks to note
Multi-cap portfolios still need risk discipline
Sector concentration risk can arise when portfolio exposure builds in areas such as Capital Goods and NBFCs.
Mid and small-cap allocations can increase drawdown risk compared with a large-cap-heavy benchmark.
Macro risks include crude oil, currency, bond yields, foreign flows, inflation, and liquidity conditions.
FAQ
Frequently asked questions
Sundaram Voyager PMS is a flexible multi-cap portfolio strategy that seeks long-term capital appreciation by investing across the market-cap curve.
It is positioned for long-term investors seeking exposure to a mix of structural companies and cyclical or turnaround opportunities.
The July 2026 product note states an investment horizon above 3 years.
The selected benchmark for Sundaram Voyager PMS is S&P BSE 500 TRI.
No. PMS portfolios are market-linked and do not offer guaranteed or assured returns. Past performance is not indicative of future performance.
Disclaimer
Performance and portfolio data are based on the Sundaram Voyager Portfolio Product Note dated July 2026, with data as of July 31, 2026. Returns are shown in percentage terms.
This page is for informational purposes only and should not be construed as investment advice, an offer, or a solicitation. Securities investments are subject to market risks. Past performance is not indicative of future performance. Investors should read official PMS documents and consult their advisors before investing.
Peer performance is available from the Association of Portfolio Managers in India at APMI.