Mirae Asset Small Cap Fund
The manager is rotating toward mid-tier industrial and financial names with solid profitability over mega-cap heavyweights, signaling conviction in cyclical recovery plays. The addition of specialized equipment makers like Voltamp Transformers and Coromandel alongside exits from SBI and Bajaj Finance suggests a tactical pivot toward smaller, underrated franchises with valuation appeal. With industrial products and finance collectively representing over 23% of the portfolio, the fund is positioned for an economic upswing rather than defensive positioning.
Portfolio analysis · April 2026
NAV & Returns
| Plan | NAV | 1M | 1Y | 3Y CAGR | 5Y CAGR |
|---|---|---|---|---|---|
| Direct Growth | ₹11.7100 | — | — | — | — |
| Regular Growth | ₹11.4730 | +1.43% | +7.40% | — | — |
| Direct IDCW | ₹11.7090 | — | — | — | — |
| Regular IDCW | ₹11.4750 | — | — | — | — |
Portfolio Metrics(latest month)
vs Category Peers
Highly DifferentiatedActive Share = ½Σ|wfund − wpeer|, computed using leave-one-out peer portfolio within SEBI category.
Similar Funds in Category
What Changed2026-03-31 → 2026-04-30
| Stock | Weight |
|---|---|
| Voltamp Transformers Ltd. | 2.03% |
| Coromandel International Ltd. | 1.60% |
| Elgi Equipments Ltd. | 1.23% |
| The Phoenix Mills Ltd. | 0.83% |
Full Holdings
| # | Holding | % to NAV |
|---|---|---|
| 1 | TREPS | 3.43% |
| 2 | Welspun Corp Ltd. INE191B01025 | 2.96% |
| 3 | Karur Vysya Bank Ltd. INE036D01028 | 2.73% |
| 4 | Cholamandalam Financial Holdings Ltd. INE149A01033 | 2.68% |
| 5 | Kirloskar Oil Engines Ltd. INE146L01010 | 2.66% |
| 6 | Godawari Power & Ispat Ltd. INE177H01039 | 2.38% |
| 7 | Anthem Biosciences Ltd. INE0CZ201020 | 2.34% |
| 8 | Krishna Institute of Medical Sciences Ltd. INE967H01025 | 2.09% |
| 9 | CRISIL Ltd. INE007A01025 | 2.05% |
| 10 | Voltamp Transformers Ltd. INE540H01012 | 2.03% |
| 11 | Tenneco Clean Air India Ltd. INE19RI01016 | 2.02% |
| 12 | Multi Commodity Exchange of India Ltd. INE745G01043 | 1.94% |
| 13 | DCB Bank Ltd. INE503A01015 | 1.93% |
| 14 | Dr. Lal Path labs Ltd. INE600L01024 | 1.91% |
| 15 | Central Depository Services (I) Ltd. INE736A01011 | 1.89% |
| 16 | Neuland Laboratories Ltd. INE794A01010 | 1.84% |
| 17 | JK Cement Ltd. INE823G01014 | 1.82% |
| 18 | Home First Finance Company India Ltd. INE481N01025 | 1.82% |
| 19 | Kfin Technologies Ltd. INE138Y01010 | 1.70% |
| 20 | Atul Ltd. INE100A01010 | 1.69% |
Sector Allocation
Top 10 sectors by % to NAV. Excludes derivatives.
Frequently Asked Questions
How many stocks does Mirae Asset Small Cap Fund hold?
Mirae Asset Small Cap Fund holds 79 stocks as per the latest AMFI portfolio disclosure. The top 5 positions account for 13.41% of NAV.
What is the largest holding in Mirae Asset Small Cap Fund?
The largest position in Mirae Asset Small Cap Fund is TREPS, accounting for 3.43% of NAV.
Is Mirae Asset Small Cap Fund a concentrated or diversified fund?
With a Gini coefficient of 0.283, Mirae Asset Small Cap Fund is well-diversified. The HHI concentration index is 15,109 bps, which is above the 2500 bps threshold for high concentration. The top 5 holdings together make up 13.41% of the portfolio.
What is the market cap allocation of Mirae Asset Small Cap Fund?
Based on SEBI's AMFI classification, Mirae Asset Small Cap Fund's equity portfolio is split as: Large Cap: 8.23%, Mid Cap: 18.85%, Small Cap: 68.32%. This reflects the fund's positioning within the market cap spectrum.
Which sectors does Mirae Asset Small Cap Fund invest in most?
Mirae Asset Small Cap Fund has the highest allocation to Industrial Products (12.92%), Finance (11.32%), Pharmaceuticals & Biotechnology (8.73%). The fund is invested across 30 sectors in total.
How actively managed is Mirae Asset Small Cap Fund compared to other Small Cap Fund funds?
Mirae Asset Small Cap Fund has an Active Share of 76.77%, classifying it as "Highly Differentiated" among 31 Small Cap Fund peers. This means the fund takes significantly different stock positions compared to its category peers.
What changed in Mirae Asset Small Cap Fund's portfolio in the latest month?
Between 2026-03-31 and 2026-04-30, Mirae Asset Small Cap Fund added 4 new stocks (including Voltamp Transformers Ltd.) and exited 4 stocks (including State Bank of India). Total holding count remained at 81 stocks.