TRUSTMF Small Cap Fund
This is the Direct plan of TRUSTMF Small Cap Fund — bought from the fund house, with no distributor commission in its expense ratio. Income is distributed, which is why this NAV sits below the growth plan of the same fund.
Performance
Key Metrics
Scheme Info
DefinitionsPeriod returns (<1Y, absolute — not annualized)
DefinitionsAnnualized returns (≥1Y — CAGR)
DefinitionsAdvanced metrics — risk and benchmark ratios
Fund vs category average (Small Cap Fund)
| Period | Fund | Category avg. | Diff |
|---|---|---|---|
| 1M abs | -1.99% | — | — |
| 3M abs | +4.80% | — | — |
| 6M abs | +37.19% | — | — |
| 1Y CAGR | +28.68% | — | — |
| 3Y CAGR | — | — | — |
| 5Y CAGR | — | — | — |
Category average across peers in Small Cap Fund, same plan and option, excluding this fund. Under-1-year figures are absolute; 1Y and beyond are annualised (CAGR).
Not sure what a figure means? The glossary explains every metric, and the methodology shows the formulas.
Backtest this fund
What a SIP or one-time investment would have grown to over this fund’s real NAV history.
12 monthly installments of ₹10,000 into TRUSTMF Small Cap Fund, valued at the latest NAV. XIRR annualizes for each installment’s timing.
Calendar-year returns
What the fund actually returned in each year, not the smoothed average.
| Year | Fund | Nifty Smallcap 250 TRI | Diff | |
|---|---|---|---|---|
| 2026part | +26.12% | +6.37% | +19.75% | |
| 2025 | +1.11% | -5.29% | +6.40% | |
| 2024part | +7.26% | — | — |
January–December, from this fund's NAV history. Absolute return, not annualised. “part” marks a year the fund didn't run end to end — its first year, the current year so far, or one it stopped reporting in; those years show no benchmark comparison.
Taxation
Taxed as equityThis is an equity-oriented fund (≥65% in Indian equities), so gains get the concessional capital-gains rates below — they do not add to your income-tax slab.
Flat, on the whole gain
On gains above ₹1.25 L per financial year
Applies to capital gains on redemption. Excludes IDCW/dividend tax, STT, surcharge and cess, and pre-2018 equity grandfathering. For research only — consult a tax advisor before filing.
Asset allocation
As on 31 Aug 2026 · AMC disclosure- Equity95.02%
- Cash & Equivalents4.98%
Fund size over time
Quarterly average AUM · AMFIAt or near its largest, ₹1,819Cr in April - June 2026. Size matters most where the mandate is narrow — a large small-cap or a very large flexi-cap book is harder to move without moving the price.
Net flow is an estimate: AMFI publishes a quarterly average AUM, not a closing balance, and it covers every plan and option of this scheme together, so it is a read on direction and rough size rather than a cash-flow statement.
AMC Profile
TRUST Mutual Fund is run by TRUST Asset Management, part of the TRUST Group, a financial services firm with a fixed-income heritage. Its line-up leans heavily towards debt schemes.
Fund Managers
MVMihir VoraStart date not disclosed
Ms. Puja Trivedi Head - Compliance, Secretarial & Legal
CFA - CFA Institute, USA PGDM - IIM, Lucknow Bachelor of Engineering - Maharaja Sayajirao University, Vadodara
Over 30 years of experience in Fund Management across various verticals in financial services industry, viz. Mutual 2025 Funds, Insurance, Sovereign Funds. From October 2023 till date: Chief Investment Officer, TRUST Asset Management Private Limited Sept. 2014 - Sept. 2023: Chief Investment Officer, Max Life Insurance Company April 2012 - September 2014: Chief Investment Officer (Offshore), Birla Sunlife Asset Management
SKSaurabh KatariaStart date not disclosed
Over 20 years of experience mainly in the Financial Services Industry. April 2026 till Date Head - Equity, Trust Asset Management Private Limited. July 2019 - April 2026 Sr. Fund Manager, Axis Max Life Insurance. August 2009 - June 2019 Fund Manager, BOI AXA Mutual Fund.
AMAakash ManghaniStart date not disclosed
Mr. Vardhman Kochar Chief Risk Officer
MBA – SP Jain School of Global Management, B.E. – Sardar Patel College of Engineering, University of Mumbai
Over 15 years of experience in equities, Since Inception: with expertise in research and portfolio i.e. October 11, management, demonstrating a keen analytical focus across diverse sectors. From February 2024 till date: Fund Manager – Equity, TRUST Asset Management Private Limited July 2022 - February 2024: Fund Manager, ICICI Prudential Life Insurance July 2019 - July 2022: Fund Manager, BOI AXA Investment Managers Private Limited December 2017 - July 2019: Senior Equity Research Analyst – Indian Equities, BOI AXA Investment Managers Private Limited March 2015 - November 2017: Equity Research Analyst – Indian Equities, BOI AXA Investment Managers Private Limited
Fund managers from the AMC's filed Scheme Summary — its most recent filing for this scheme. Benchmark and dealing terms from it and this scheme's SEBI-filed Scheme Information Document on AMFI. Each manager's qualifications and role are reconciled across every filing this fund house makes for them, including its Statement of Additional Information. Total AUM via AMFI.
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Returns and risk are computed from NAV history and may differ slightly from other portals due to methodology (rolling vs point-to-point, dividend treatment). For research only — not investment advice.
About Small Cap funds
Small cap funds invest in companies beyond the top 250 by size. They offer the highest growth potential of any equity category and also the sharpest falls, so they suit long horizons and strong stomachs.
Frequently asked questions
What is the NAV of TRUSTMF Small Cap Fund?
As of 05 Oct 2026, the NAV of TRUSTMF Small Cap Fund is ₹13.76 per unit. NAV (net asset value) is the fund's per-unit price, published once each business day.
What returns has TRUSTMF Small Cap Fund delivered?
TRUSTMF Small Cap Fund has returned +28.68% over 1 year and +17.78% per year since inception. Figures beyond one year are annualised (CAGR) and are computed from AMFI NAV history, so they may differ slightly from other portals.
What is the expense ratio of TRUSTMF Small Cap Fund?
TRUSTMF Small Cap Fund charges an expense ratio of 1.50% per year. This annual fee is already deducted from the NAV, so the returns you see are net of it.
What are the top holdings of TRUSTMF Small Cap Fund?
TRUSTMF Small Cap Fund's largest holdings are Welspun Corp Limited (2.4%), Karur Vysya Bank Limited (2.4%), Ather Energy Limited (2.3%), Sansera Engineering Limited (2.2%) and Sky Gold And Diamonds Limited (2.1%). Holdings are disclosed monthly and change over time.
How risky is TRUSTMF Small Cap Fund?
TRUSTMF Small Cap Fund is rated very high on SEBI's risk-o-meter, its trailing-3Y volatility (annualised) is 18.5% and its worst peak-to-trough fall in our sample was -24.0%. Higher volatility means the NAV swings more; the drawdown shows how far it has fallen from a peak historically.
What is the benchmark of TRUSTMF Small Cap Fund?
TRUSTMF Small Cap Fund is benchmarked against the Nifty Smallcap 250 TRI. Its alpha and beta on this page are measured against that index.
Who manages TRUSTMF Small Cap Fund?
TRUSTMF Small Cap Fund is managed by Mihir Vora, Saurabh Kataria and Aakash Manghani at Trust.
How is TRUSTMF Small Cap Fund taxed?
TRUSTMF Small Cap Fund is an equity-oriented fund, so its capital gains get concessional rates: short-term gains (units held under 1 year) are taxed at 20%, and long-term gains (held 1 year or more) at 12.5% above a ₹1.25 lakh per-year exemption. These rates apply on redemption and don't add to your income-tax slab.