Start With the Date and the Label
Performance tables are snapshots. Check the as-on date before comparing two sources, because one month of difference can materially change rankings in volatile markets. Then check whether the value is an absolute return or an annualised return.
On the SoHo Wealth table, every strategy uses the same comparison snapshot dated 30 June 2026. Missing values remain unavailable rather than being estimated, which prevents an incomplete history from being presented as a zero return.
What TWRR Is Trying to Measure
Time-weighted rate of return separates the manager's investment performance from the timing and size of external cash flows. This supports comparison across portfolios where clients added or withdrew money at different times.
Your personal experience can still differ. The date you entered, securities transferred into the account, cash retained, fees, taxes, withdrawals and any custom restrictions can create a return that does not match the published strategy number.
How to Use Each Return Period
| Period | Useful for | Main limitation |
|---|---|---|
| 1M–6M | Recent style behaviour and market sensitivity | Noise and base effects dominate |
| 1Y–2Y | Current cycle execution | May still represent one market regime |
| 3Y–5Y | Medium-term consistency | Manager or mandate may have changed |
| 10Y / Since inception | Long history and compounding context | Different start dates weaken rank comparability |
Benchmark and Peer Context
A return number without context answers only half the question. Compare it with the stated benchmark and with strategies following a similar mandate. A small-cap PMS beating a broad large-cap index may still have underperformed a relevant small-cap opportunity set, while accepting materially higher volatility.
SEBI's benchmarking circular requires portfolio managers presenting performance to include performance relative to the selected benchmark and other portfolio managers within the selected strategy. Treat category labels as a first filter and confirm the documented investment approach before making a final comparison.
Questions to Ask Before Trusting a Ranking
- Are all rows measured on the same date?
- Are the returns net of applicable fees and expenses in the source presentation?
- Is the benchmark appropriate for the mandate?
- Did the same manager and process produce the full track record?
- How deep was the largest drawdown and how long did recovery take?
- Would taxes and fees materially change the investor's post-tax result?
Book a Portfolio Review
If your India portfolio includes old resident folios, NRE/NRO confusion, PMS, SIF, AIF, property or RSUs, a structured review can make the next decision much clearer.
Sources Checked
Sources last reviewed .
- SEBI: Performance Benchmarking and Reporting by Portfolio Managers (opens in a new tab)
- SEBI Investor: Portfolio Management Services (opens in a new tab)
The article copy is original SoHo Wealth editorial content. Source links are cited for factual verification of rules, frameworks and public guidance.
This article is for education and portfolio discussion only. SoHo Wealth is a distributor, not a SEBI Registered Investment Advisor. Tax and legal outcomes depend on personal facts.