Mirae Asset Small Cap Fund Direct Growth NAV Edges Lower to ₹13.05 on 22 September

Key Takeaways:

• Mirae Asset Small Cap Fund Direct Growth NAV declined marginally by 0.08% to ₹13.05 on 22 September 2026, remaining close to its previous valuation. 
• The scheme managed approximately ₹5,717 crore, with a Direct Growth expense ratio around 0.67%. 
• The latest scheme information placed the minimum SIP at ₹99 and the minimum lump-sum investment at ₹5,000. 
• The fund has a relatively short operating history, so valid three-year and five-year CAGRs are not yet available and should not be substituted with since-inception returns. 

Mirae Asset Small Cap Fund Direct Growth recorded an NAV of ₹13.05 on 22 September 2026, edging 0.08% lower from the preceding valuation. The movement was marginal and followed an NAV of around ₹13.07 on 21 September. 

The scheme managed approximately ₹5,717 crore in the latest supporting snapshot. Its Direct Growth expense ratio stood at around 0.67%. The latest scheme information placed the minimum SIP at ₹99 and minimum lump-sum investment at ₹5,000. The SIP figure is retained as reported rather than rounded to ₹100. 

Fund age is especially important in this case. Mirae Asset Small Cap Fund has only a relatively short operating history and has not completed the full periods required to calculate conventional three-year and five-year trailing CAGRs. Those figures should therefore remain absent rather than being extrapolated from since-inception performance. 

Recent portfolio information placed Welspun Corp among the larger disclosed equity holdings at approximately 2.77%. An earlier portfolio snapshot also included TREPS among the larger overall allocations. TREPS is a liquidity-management instrument, so it needs to be distinguished from the scheme's listed equity positions. 

As a small-cap scheme, the portfolio predominantly targets companies classified outside the large- and mid-cap universes. The category framework provides useful context for the fund's underlying exposure without implying any particular future NAV outcome. 

The ₹13.05 NAV is the exact-date measure for 22 September. Given the scheme's shorter history, maintaining discipline around valid return periods is particularly important when preparing comparisons with older small-cap funds. 

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