Mirae Asset Small Cap Fund Direct Growth NAV Reaches ₹13.15 on 23 September; 1-Year Return at 11.77%

Key Takeaways:

• Mirae Asset Small Cap Fund Direct Growth recorded an NAV of ₹13.15 on 23 September 2026, an increase of 0.73% from the preceding valuation. 
• The fund's available one-year return stood at 11.77%. Because the scheme had not completed three or five years, valid CAGRs for those periods were not available and have not been replaced by since-inception performance. 
• Welspun Corp, TREPS, Karur Vysya Bank, Kirloskar Oil Engines and Dr Lal PathLabs together represented 11.89% of the recent portfolio snapshot. TREPS is a cash-management allocation, making Welspun Corp the largest listed equity holding among those entries. 
• The scheme managed approximately ₹5,717 crore, with a Direct Growth expense ratio of 0.67%. The minimum SIP was ₹99, compared with a ₹5,000 minimum lump-sum amount. 

Mirae Asset Small Cap Fund Direct Growth stood at ₹13.15 on 23 September 2026, a 0.73% increase from the preceding valuation. The scheme's available one-year return was 11.77%. Because its operating history is only around one year, a valid three-year or five-year CAGR is not yet available and has not been substituted with a since-inception figure. 

The fund managed approximately ₹5,717 crore, and its Direct Growth expense ratio was 0.67%. Minimum investment levels differed materially by mode: the SIP minimum was ₹99, whereas the lump-sum minimum was ₹5,000. 

A recent portfolio snapshot showed Welspun Corp at 2.77%, TREPS at 2.37%, Karur Vysya Bank at 2.33%, Kirloskar Oil Engines at 2.24% and Dr Lal PathLabs at 2.18%. Together, those five disclosed entries represented 11.89%. TREPS is a cash-management allocation rather than an equity holding, so Welspun Corp was the largest listed equity position among that group. 

The same data set reported a beta of 0.78 and a Sharpe ratio of 0.71. Both measures are based on a considerably shorter available history than would be the case for an established decade-old scheme, which matters when placing the statistics in context. They remain backward-looking measures rather than estimates of future NAV changes. 

For 23 September, the fund therefore had a positive daily NAV movement and a positive one-year historical return, but it does not yet have the operating record required for longer standard CAGR comparisons. That absence is a data-history limitation rather than a zero return for either period. 

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