July 2026 PMS Returns: Dispersion and Coverage Honesty

Data & compliance notice. This analysis is based on SEBI-sourced disclosures available in the KnowYourPMS evidence release referenced below. Figures reflect reported provider data for complete firms only; partial and unavailable providers are excluded from performance statistics. This is factual research, not investment advice, a recommendation, or a solicitation. Past performance does not guarantee future results. Coverage limits are stated explicitly; do not extrapolate beyond the cited release and metric filters. Editorial review (human-in-the-loop) is required before publication — drafts are submitted as pull requests, not auto-merged.

Release scope

This note uses the jul-2026 evidence release (July 2026 reporting period, period end 2026-07-31). Performance figures below come from 1,595 reported return_1m observations across complete providers only.

Coverage context matters: of all registered providers tracked in this release, 388 are complete (60.8%), while 123 are partial, 127 unavailable, and 0 missing. 250 providers are excluded from the return dispersion analysis.

Return dispersion

The cross-section of 1-month returns is wide:

| Statistic | Value | |-----------|------:| | Median | 0.91% | | Mean | 1.02% | | Std. dev. | 3.44% | | 10th percentile | -1.07% | | 90th percentile | 3.42% | | Min / Max | -99.55% / 15.93% | | Positive months | 72.5% of strategies |

The interquartile range runs from 0.00% to 2.13%, illustrating meaningful dispersion even within a single reporting month. Readers should not treat the median as representative of any individual mandate.

AUM terciles

Grouping strategies with both reported aum and return_1m into terciles by AUM size:

• Bottom Tercile (490 strategies, AUM 0–11 Cr): median return 0.79%
• Middle Tercile (490 strategies, AUM 11–89 Cr): median return 1.08%
• Top Tercile (490 strategies, AUM 89–676,492 Cr): median return 1.17%

Tercile splits are descriptive only. AUM and return are joined at the strategy level for strategies with both metrics reported in jul-2026.

Methodology

• Source: KnowYourPMS evidence API (/api/v1/data/observations/page), read-only.
• Release: jul-2026 — no data from other periods is used.
• Filters: status=reported; performance stats limited to complete providers.
• Claim ledger: jul-2026-return-dispersion.claim-ledger.json (11 bound claims).

Editorial status

Draft — not published. Submit as a pull request for human review. Do not merge without verifying claim ledger bindings and coverage wording.