Portfolio Performance

Calendar Year	PMS Return (%)	BSE 500 TRI	Comments
2023 (w.e.f. 16 May)	32.02	25.54	Had a good start despite slow & gradual deployment in a fast moving market.
2024	20.62	15.81	–
2025	-2.96	7.63	Small-caps faced a temporary sell-off while providing a good opportunity to increase equity allocation. Led by 1). US Tariff
2026 (year to date)	11.6	-1.51	Followed by 2). AI Disruption & 3). War in Middle East
Since Inception	17.90	14.02	An active share of over 99% implies a complete bottom-up portfolio as opposed to index hugging. Aim to outperform by 3-5% on a 5-year rolling basis, while embracing short-term underperformance

Benchmark Comparison: Our active share is over 99%, implying negligible overlap with BSE 500. Unlike a usual fund which either does index hugging or decides overweight/underweight the index stocks, Stalwart PMS is completely built bottom-up. Given the composition is entirely different from index, the short-term comparisons would not reveal anything. Our endeavour is to outperform benchmark by 3-5% CAGR, the same is ideally judged on a rolling 5-year basis.

TWRR Returns (%)

Strategy	Investment Approach	AUM (INR Cr.)	1 Month	3 Months	6 Months	1 Year	2 Year	3 Year	5 Year	Since Inception
Equity	Wealth Guardian Fund	210.42	5.28	9.01	22.35	9.81	2.05	13.22	–	17.90
	Benchmark S&P BSE 500 TRI		-0.01	3.86	1.43	4.72	-0.11	12.09	–	14.02

Portfolio Turnover Ratio

Investment Approach	1 Month	1 Year
Wealth Guardian Fund	0.04	0.79

Above reported performance pertains to the period ended 31/08/2026.

The above returns are post fees and expenses, and are calculated using the Time Weighted Rate of Return (TWRR) method as mandated by SEBI.

Returns upto and below 1-year are absolute.

PMS inception date: May 16, 2023

Equity investments are subject to market risk. Read all scheme related documents carefully. Past performance may or may not be sustained in future.

Performance related information provided above is not verified by SEBI or APMI.