Mirae Asset Small Cap Fund Direct Growth NAV Falls to ₹12.80 on 15 September; 1-Year Return at 8.69%

Key Takeaways 

• Mirae Asset Small Cap Fund Direct Growth NAV declined 2.25% to ₹12.80 on 15 September 2026. 
• The scheme's latest one-year return stood at 8.69%; it has not yet completed sufficient history for valid three-year or five-year CAGRs. 
• Fund size stood at approximately ₹5,717 crore and the Direct Growth expense ratio was 0.67%. 
• Welspun Corp was the largest disclosed equity holding at 2.77%, while the five largest disclosed entries including TREPS represented 11.89%. 

Mirae Asset Small Cap Fund Direct Growth declined 2.25% to ₹12.80 on 15 September 2026. Its latest one-year return stood at 8.69%. Because the scheme has an operating history of only around one year, the available performance record is considerably shorter than that of most funds in this 20-scheme universe. 

A valid three-year CAGR is not yet available because the scheme has not completed three full years. The same applies to a five-year CAGR. Any since-inception return is a separate measure and should not be substituted for either trailing period, particularly when the operating history remains this short. 

The fund managed approximately ₹5,717 crore and carried a Direct Growth expense ratio of 0.67%. Minimum SIP investment stood at ₹99, while the minimum lump-sum amount was ₹5,000. Both the AUM and the portfolio itself can change materially as a relatively young scheme continues to build its asset base. 

Welspun Corp was the largest disclosed listed equity holding at 2.77%. TREPS represented another 2.37%, but it is a money-market allocation rather than a stock. Karur Vysya Bank accounted for 2.33%, Kirloskar Oil Engines 2.24% and Dr Lal PathLabs 2.18%. Including TREPS, these five disclosed entries together represented 11.89% of the portfolio, leaving 88.11% across other holdings and portfolio components. 

Available historical risk statistics included beta of 0.78, standard deviation of 5.46, alpha of 7.69 and a Sharpe ratio of 0.71. These measures are based on a comparatively short historical observation period because the fund itself is relatively new. The exit-load terms also permit the specified first-year unit allowance without load before the applicable 1% charge on qualifying redemptions. 

Mutual Fund investments are subject to market risks, read all scheme related documents carefully.