Indicating consensus among India’s top smallcap stock pickers, a small cohort of 5 stocks have managed to secure a foothold across India’s 3 largest smallcap mutual fund schemes.
Nippon India Small Cap Fund, the largest scheme in the category with assets of Rs 74,600 crore, HDFC Small Cap Fund with Rs 38,800 crore, and SBI Small Cap Fund with Rs 37,400 crore — together managing Rs 1.51 lakh crore of investor money — are all holding Kalpataru Projects International, Krishna Institute of Medical Sciences (KIMS), City Union Bank, PVR Inox and Carborundum Universal. Combined, the three schemes have parked about Rs 8,000 crore, or 5.34% of their pooled assets, in just these five names, shows data from ACE MF.
The conviction is sharpest at SBI Small Cap. The scheme has nearly a tenth of its entire portfolio riding on these five stocks alone, far ahead of HDFC Small Cap's 6.64% and Nippon India Small Cap's comparatively modest 2.49%.
KIMS is the single largest common bet by value, with the three funds together holding Rs 2,170 crore worth of shares. SBI Small Cap is the most committed, with 2.50% of its corpus in the stock (Rs 935 crore), ahead of HDFC Small Cap's 2.18% (Rs 845 crore) and Nippon India Small Cap's 0.52% (Rs 389 crore).
