The SBI Small Cap Fund is an open-ended equity mutual fund that primarily invests in small-cap companies, aiming for long-term capital appreciation. Here’s a comprehensive overview of the fund:
Fund Overview
- Name: SBI Small Cap Fund
- Fund House: SBI Mutual Fund
- Type: Equity – Small Cap
- Benchmark: S&P BSE 250 SmallCap Total Return Index
- Exit Load: 1% if redeemed within 1 year; Nil thereafter
- Assets Under Management (AUM): ₹30,829 crore (as of March 31, 2025)
Launch Date:
- Regular Plan: September 9, 2009
- Direct Plan: January 1, 2013
Minimum Investment:
- Lump Sum: ₹5,000
- Additional Investment: ₹1,000
- SIP: ₹500
Net Asset Value (NAV):
- Regular Plan – Growth: ₹159.04 (as of May 2, 2025)
Expense Ratio:
- Regular Plan: 1.61%
- Direct Plan: 0.72%
SBI Small Cap Fund NAV
As of May 2, 2025, the Net Asset Value (NAV) of the SBI Small Cap Fund is as follows:
- Direct Plan – Growth Option: ₹181.68
Fund Managers of SBI Small Cap Fund
Rama Iyer Srinivasan
- Tenure: Managing the fund since November 16, 2013
- Education: M.Com and MFM
- Experience: Over 19 years in capital markets. Prior to joining SBI Mutual Fund in May 2009, he worked with Principal AMC, Oppenheimer & Co, Indosuez WI Carr, and Motilal Oswal.
- Current Role: Chief Investment Officer (CIO) – Equity at SBI Mutual Fund.
- Other Funds Managed: SBI Focused Equity Fund, SBI Equity Hybrid Fund, SBI Multicap Fund, among others.
Mohan Lal
- Tenure: Managing the fund since May 1, 2024
- Education: Post Graduate Diploma in Management (PGDM)
- Experience: Over 17 years in financial services. Joined SBI Mutual Fund in September 2017 as an Equity Research Analyst, focusing on sectors like chemicals, airlines, media, textiles, and retail. Previously worked with Kotak Securities Ltd and Elara Securities (India) Pvt Ltd.
Mohit Jain
- Designation: Fund Manager, SBI Mutual Fund
- Tenure with SBI Small Cap Fund: Since November 2017
- Education: B.E. in Engineering; CFA Level III candidate
- Experience: Over 12 years in finance, with more than 8 years in fixed income covering sectors like power, commodities, logistics, broking, and wholesale NBFCs.
- Previous Roles: Senior Research Analyst at CRISIL Limited.
Pradeep Kesavan
- Designation: Fund Manager, SBI Mutual Fund
- Tenure with SBI Small Cap Fund: Since December 2023
- Education: B.Com, MBA (Finance), CFA Charterholder
- Experience: Over 18 years in financial services, including roles in corporate finance, strategy consulting, and equity research.
SBI Small Cap Fund Portfolio
As of February 28, 2025, the SBI Small Cap Fund maintains a diversified portfolio with a significant focus on small-cap equities. Here’s a detailed overview of its holdings:
Portfolio Allocation
- Equity: 92.36%
- Debt: 0.19%
- Others (including cash and equivalents): 7.45%
- Small Cap Stocks: 88.82%
- Mid Cap Stocks: 3.54%
- Large Cap Stocks: 0%
Top 10 Equity Holdings
| Stock Name | Sector | % of Total Holdings |
|---|---|---|
| DOMS Industries Ltd. | Stationery | 2.79% |
| SBFC Finance Ltd. | Non-Banking Financial Company (NBFC) | 2.77% |
| Chalet Hotels Ltd. | Hotels & Resorts | 2.52% |
| Kalpataru Power Transmission Ltd. | Civil Construction | 2.44% |
| CMS Info Systems Ltd. | Diversified Commercial Services | 2.41% |
| Aavas Financiers Ltd. | Housing Finance | 2.31% |
| Blue Star Ltd. | Household Appliances | 2.28% |
| Cholamandalam Financial Holdings Ltd. | Investment Company | 2.27% |
| Krishna Institute of Medical Sciences Ltd. | Hospital | 2.26% |
| EID-Parry (India) Ltd. | Agricultural Products | 2.18% |
Sector Allocation
- Financial Services: 24.36%
- Services: 14.83%
- Consumer Staples: 9.84%
The fund exhibits a diversified sectoral exposure, with a notable emphasis on financial services and consumer-related sectors.
Recent Portfolio Changes
New Additions:
- Sundram Fasteners Ltd. (Auto Components): 0.28%
- Thangamayil Jewellery Ltd. – Rights (Jewellery): 0.03%
- Ajax Engineering Ltd. (Construction Vehicles): 0.20%
Portfolio Characteristics
- Number of Stocks: 64
- Average Market Capitalization: ₹2,893.68 crore
The fund maintains a moderately diversified portfolio with a focus on small-cap stocks, aligning with its investment objective of capital appreciation through investments in smaller companies.
SBI Small Cap Fund Returns
Here is a comprehensive overview of the SBI Small Cap Fund performance as of May 2, 2025, including both Direct and Regular plans:
SBI Small Cap Fund Returns
| Investment Period | Direct Plan – Growth | Regular Plan – Growth |
|---|---|---|
| 1 Year | -0.08% | -0.98% |
| 2 Years | 19.44% | 18.32% |
| 3 Years | 16.24% | 15.11% |
| 5 Years | 29.75% | 28.38% |
| 10 Years | 19.49% | 18.31% |
| Since Inception | 23.93% | 19.33% |
SIP Returns (₹1,000 Monthly Investment)
| SIP Duration | Total Investment | Latest Value | Absolute Returns | Annualized Returns |
|---|---|---|---|---|
| 1 Year | ₹12,000 | ₹11,180.11 | -6.83% | -12.45% |
| 2 Years | ₹24,000 | ₹25,418.68 | 5.91% | 5.63% |
| 3 Years | ₹36,000 | ₹42,877.28 | 19.10% | 11.69% |
| 5 Years | ₹60,000 | ₹94,341.80 | 57.24% | 18.15% |
| 10 Years | ₹1,20,000 | ₹3,19,667.36 | 166.39% | 18.62% |
Tax Implications
- Short-Term Capital Gains (STCG): If units are redeemed within 1 year, gains are taxed at 20%.
- Long-Term Capital Gains (LTCG): If units are held for more than 1 year, gains exceeding ₹1.25 lakh are taxed at 12.5%.
SBI Small Cap Fund Direct Growth
Here is the latest information on the SBI Small Cap Fund – Direct Plan – Growth as of March 2025:
Performance Summary
| Period | Absolute Returns (%) | Annualized Returns (%) |
|---|---|---|
| 1 Month | 2.15 | — |
| 3 Months | -16.56 | — |
| 1 Year | 6.87 | 6.87 |
| 3 Years | — | 15.81 |
| 5 Years | — | 29.91 |
| Since Inception | — | 23.85 |
SIP Performance
| SIP Duration | Total Investment (₹) | Latest Value (₹) | Absolute Returns (%) | Annualized Returns (%) |
|---|---|---|---|---|
| 1 Year | 12,000 | 10,681.98 | -10.98 | -19.75 |
| 2 Years | 24,000 | 24,850.57 | 3.54 | 3.39 |
| 3 Years | 36,000 | 41,976.53 | 16.60 | 10.24 |
| 5 Years | 60,000 | 95,734.04 | 59.56 | 18.76 |
| 10 Years | 1,20,000 | 3,29,521.00 | 174.60 | 19.18 |
SBI Small Cap Fund Regular Growth
Here is the latest information on the SBI Small Cap Fund – Regular Plan – Growth as of March 2025:
Performance Summary
| Period | Absolute Returns (%) | Annualized Returns (%) |
|---|---|---|
| 1 Month | 2.09 | — |
| 3 Months | -16.74 | — |
| 1 Year | 5.90 | 5.90 |
| 3 Years | — | 14.67 |
| 5 Years | — | 28.58 |
| Since Inception | — | 19.19 |
Strengths of SBI Small Cap Fund:
- High Growth Potential: Small-cap stocks typically have a higher growth potential compared to large-cap or mid-cap stocks, offering the opportunity for significant capital appreciation over time.
- Experienced Fund Management: The fund is managed by experienced professionals with a strong track record, such as Mr. R. Srinivasan and Mr. Mohit Jain, who bring their expertise to the table in managing small-cap investments.
- Diversification: The fund has a diversified portfolio across sectors, which reduces the risk of any single stock or sector impacting the overall performance.
- Focused on Long-Term Capital Appreciation: The investment strategy of the SBI Small Cap Fund is aimed at long-term capital growth, making it suitable for investors with a long-term horizon.
- Consistent Historical Performance: Over the years, the fund has demonstrated strong returns, outperforming its benchmark index in several periods.
- Strong AUM: With a significant Assets Under Management (AUM), SBI Small Cap Fund has considerable market credibility and operational capacity, which can help in efficient portfolio management.
Risks of SBI Small Cap Fund:
- High Volatility: Small-cap stocks tend to be more volatile than large-cap stocks, meaning the fund might experience significant fluctuations in value, especially in the short term.
- Market Risk: As with any equity-based fund, SBI Small Cap Fund is exposed to market risk. Any adverse market conditions, such as economic downturns or political instability, can negatively affect the fund’s performance.
- Liquidity Risk: Small-cap stocks are often less liquid compared to large-cap stocks, which may lead to difficulties in buying or selling these stocks at desirable prices.
- Concentration Risk: While the fund aims for diversification, a high concentration in specific sectors or stocks might pose risks if those sectors or stocks underperform.
- Limited Historical Data: Given that small-cap stocks can be newer and less established, there may be limited historical data to assess their long-term performance.
- Exit Load and Tax Implications: Investors redeeming their units within a short period (less than one year) are subject to an exit load, which can reduce returns. Additionally, long-term capital gains are taxed, which could impact the net returns for investors.
Overall, SBI Small Cap Fund is ideal for investors looking for high growth potential and willing to bear the risks associated with small-cap investments.
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