April 1, 2026
RA Jainee
Bank of India Small Cap Fund
| Fund at a Glance | |
| NAV Growth (Rs.) | 45.5 |
| NAV Bonus (Rs.) | — |
| NAV IDCW (Rs.) | 34.07 |
| Min. Investment (Rs.) | 5,000 |
| Min. SIP Investment (Rs.) | 1,000 |
| Min. No of Cheques | 6 |
| Benchmark | NIFTY Smallcap 250 TRI |
| AUM Rs. | 1,904 Cr |
| (As on 28-Feb-2026) | |
| Expense | 0.58% |
| 1 Year Return (%) | -1.83 |
| 3 Year Return (%) | 18.13 |
| 5 Year Return (%) | 18.85 |
| 10 Year Return (%) | — |
| Return Since Launch | 23.19% |
⚖️ Sahifund Review – Bank of India Small Cap Fund ✔
PLUS: Strong long-term delivery, low cost, diversified small-cap exposure
✓ Bank of India Small Cap Fund has delivered solid long-term returns, with 18.13% over 3 years and 18.85% over 5 years, comfortably ahead of both benchmark and category averages.
✓ The fund has also held up relatively well in recent weakness, showing better downside control than the small-cap benchmark, which is a positive sign in a volatile category.
✓ Expense ratio at 0.58% is quite attractive for an active small-cap fund, which adds a meaningful cost advantage for long-term SIP investors.
✓ The portfolio is well spread across 80 stocks, with low concentration risk as Top 10 holdings are only 24.87%, making it one of the better-diversified small-cap offerings.
✓ For investors seeking a true small-cap allocation through SIP, this fund remains category-relevant and has quietly built a respectable long-term record.
MINUS: Very high turnover, rich valuations, not the category king
⚖️ The biggest concern is extremely high turnover at 96%, which indicates aggressive churn and can increase execution risk in a volatile small-cap segment.
⚖️ While returns are strong, the fund still does not clearly dominate category leaders like Nippon India Small Cap or Quant Small Cap on overall return profile.
⚖️ Recent 1-year performance is still negative at -1.83%, which means momentum has not yet fully revived despite the stronger long-term record.
⚖️ Portfolio valuations remain on the richer side with P/E of 32.82 and P/B of 4.02, so investors should expect higher volatility and avoid lump-sum chasing.
Sahifund View (Decisive Line):
Bank of India Small Cap Fund is a strong SIP-worthy small-cap fund with solid structure and low cost, but investors must enter with patience and a high risk appetite.
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| NFO Guidance |
What lies ahead? Below we decode returns consistency, portfolio concentration, peer positioning and risk profile in detail.
Suitable For Which Investors?
Small-cap funds are suitable for investors:
1. Seeking exposure in small-cap stocks for high returns
2. Aiming for long-term wealth creation
3. With a 7+ year investment horizon
4. Who can withstand interim sharp declines in investment value
Note:
• Invest only through SIP
Fund’s Investment Strategy:
The scheme seeks to generate long term capital appreciation by investing predominantly in equity and equity-related securities of small cap companies.
Fund Manager:
1) Alok Singh
Education: Mr. Singh is a CFA and PGDBA from ICFAI Business School.
Experience: Prior to joining Bank of India AMC he has worked with BNP Paribas Asset Management and Axis Bank
2) Nav Bhardwaj
Education: PhD – Business Management (Finance), Masters in Commerce, B.A. (Hons.) – Economics
Experience: Prior to joining the Bank of India , he was associated with Invesco Asset Management (India) Private Limited, Anand Rathi Shares and stock brokers Ltd, Sunflower Capital.
Investment Details
| Min. Investment (Rs) | 5,000 |
| Min. Addl Investment (Rs) | 1,000 |
| Min. SIP Investment (Rs) | 1,000 |
| Min. Withdrawal (Rs) | 1,000 |
| Min. No of Cheques | 6 |
| Min. Balance (Rs) | 1 |
| Lock-in Period | NA |
| Exit Load | For units in excess of 10% of the investment, 1% will be charged for redemption within 365 days |
Basic Details of Bank of India Small Cap Fund
| Fund House | Bank of India Mutual Fund |
| Launch Date | 19-Dec-18 |
| Return Since Launch | 23.19% |
| Benchmark | NIFTY Smallcap 250 TRI |
| Riskometer | Very High |
| Type | Open-ended |
| Assets (Rs) | 1,904 Cr |
| (As on 28-Feb-2026) | |
| Expense | 0.58% |
| (As on 28-Feb-2026) | |
| Risk Grade | Above Average |
| Return Grade | Above Average |
| Turnover | 96.00% |
Bank of India Small Cap Fund Returns
| Fund name | YTD | 1D | 1M | 3M | 6M | 1Y | 3Y | 5Y | 7Y | 10Y |
| Bank of India Small Cap Dir | -9.63 | -2.44 | -7.60 | -9.63 | -10.49 | -1.83 | 18.13 | 18.85 | 22.85 | — |
| BSE 250 SmallCap TRI | -15.23 | -2.57 | -10.32 | -15.23 | -15.39 | -5.83 | 16.36 | 15.43 | 14.86 | — |
| Equity: Small Cap | -12.79 | -2.29 | -9.56 | -12.79 | -12.29 | -2.90 | 17.31 | 17.72 | 18.72 | — |
| Rank within category | 4 | 31 | 5 | 4 | 13 | 20 | 10 | 5 | 2 | — |
| Number of funds in category | 52 | 54 | 53 | 52 | 49 | 46 | 31 | 24 | 19 | 12 |
Peer Comparison of Bank of India Small Cap Fund
| Rating | 1 Year Returns | 3 Year Returns | 5 Year Returns | Expense Ratio (%) | Net Assets (Rs Cr) | Return Since Launch (%) | Exit Load (Days) | Fund Age | Turnover (%) | |
| Bank of India Small Cap Dir | 3 star | -1.83 | 18.13 | 18.85 | 0.58 | 1,904 | 23.19 | 1.00 (365) | 7Y 3M | 96.00 |
| Nippon India Small Cap Dir | 4 star | -1.40 | 18.19 | 20.90 | 0.65 | 67,642 | 22.68 | 1.00 (365) | 13Y 2M | 15.00 |
| HDFC Small Cap Dir | 4 star | -1.59 | 15.12 | 18.59 | 0.73 | 37,424 | 17.54 | 1.00 (365) | 13Y 2M | 7.80 |
| Quant Small Cap Dir | 4 star | -3.43 | 17.85 | 22.96 | 0.81 | 27,654 | 15.88 | 1.00 (365) | 13Y 2M | 151.00 |
| Axis Small Cap Dir | 4 star | -1.73 | 15.88 | 17.68 | 0.60 | 26,008 | 21.28 | 1.00 (365) | 12Y 4M | 38.00 |
Bank of India Small Cap Fund Portfolio
| No. of Stocks | 80 |
| Top 10 Stocks | 24.87% |
| Top 5 Stocks | 13.23% |
| Top 3 Sectors | 52.43% |
| Portfolio P/B Ratio | 4.02 |
| Portfolio P/E Ratio | 32.82 |
Portfolio Breakup
| Fund | Category | |
| Average Mkt Cap (Rs Cr) | 11,877 | 19,151 |
| Giant (%) | — | — |
| Large (%) | 3.36 | 7.48 |
| Mid (%) | 14.27 | 13.67 |
| Small (%) | 82.36 | 84.01 |
| Tiny (%) | — | — |
Disclaimer: Mutual fund investments are subject to market risks. Read all scheme related documents carefully
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