December 29, 2025
RA Jainee
DSP Small Cap Fund
| Fund at a Glance | |
| NAV Growth (Rs.) | 216.03 |
| NAV Bonus (Rs.) | — |
| NAV IDCW (Rs.) | 64.30 |
| Min. Investment (Rs.) | 100 |
| Min. SIP Investment (Rs.) | 100 |
| Min. No of Cheques | 12 |
| Benchmark | BSE 250 SmallCap TRI |
| AUM Rs. | 17,010 Cr |
| (As on 30-Nov-2025) | |
| Expense | 0.79% |
| 1 Year Return (%) | -1.42 |
| 3 Year Return (%) | 22.21 |
| 5 Year Return (%) | 24.04 |
| 10 Year Return (%) | 17.06 |
| Return Since Launch | 21.25% |
⚖️ Sahifund Review — DSP Small Cap Fund ✓
PLUS: Stability, track record, cost efficiency
DSP Small Cap Fund is among the oldest small-cap funds in India, with a track record running since 2013, lending confidence to long-term investors. Despite recent volatility, its 3-year and 5-year returns of over 22% and 24% respectively underline solid wealth-creation potential across market cycles. The fund maintains a true small-cap orientation with nearly two-thirds exposure to small companies, which can work well during broader market upcycles. A reasonable turnover ratio (14%) reflects a disciplined, low-churn investment style backed by DSP Mutual Fund’s research-driven framework.
MINUS: Large AUM, large-cap bias, momentum lag
With assets exceeding Rs. 17,000 Cr, nimbleness can be constrained in sharp small-cap rallies. Short-term performance has lagged peers, evident from negative 1-year returns, indicating momentum headwinds in recent market phases. Portfolio concentration is relatively higher, with the top 10 stocks nearing 30%, which can amplify volatility during corrections. Expense ratio, though reasonable, is slightly higher than some aggressive peers.
Decisive Line (Sahifund View):
Well-suited for patient SIP investors with a 7+ year horizon who want genuine small-cap exposure and can tolerate interim volatility for long-term gains.
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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?
When you invest for seven years or more, you can expect gains that comfortably beat the inflation rate as well as returns from fixed income options.
This is a fund that invests in smaller companies. Compared to those that invest in larger companies, such funds tend to fall more when stock prices fall. So while you can expect higher returns in the long term, there will be more severe ups and downs along the way.
Like for all equity funds, you must invest only through the SIP route.
Fund’s Investment Strategy:
The aim of the fund is to seek long-term capital appreciation by investing in a portfolio that is substantially constitutes of stocks of small cap companies.
Fund Manager:
1) Vinit Sambre
Education: Mr. Sambre is a B.Com and FCA.
Experience: Prior to joining DSP he was associated with DSP Merrill Lynch Ltd.(Nov 2005 to Jun 2007), IL & FS Investsmart Ltd. (Dec 2002 to Oct 2005), Unit Trust of India Investment Advisory Services Ltd.(Jun 2000 to Dec 2002), Kisan Ratilal Choksey Shares and Securities Pvt. Ltd. (March 1999 to May 2000) and Credit Rating Information Service of India Ltd.(Apr 1998 to Feb 1999).
Investment Details
| Min. Investment (Rs) | 100 |
| Min. Addl Investment (Rs) | 100 |
| Min. SIP Investment (Rs) | 100 |
| Min. Withdrawal (Rs) | — |
| Min. No of Cheques | 12 |
| Min. Balance (Rs) | 500 |
| Lock-in Period | NA |
| Exit Load | 1% for redemption within 364 days |
Basic Details of DSP Small Cap Fund
| Fund House | DSP Mutual Fund |
| Launch Date | 01-Jan-13 |
| Return Since Launch | 21.25% |
| Benchmark | BSE 250 SmallCap TRI |
| Riskometer | Very High |
| Type | Open-ended |
| Assets | Rs 17,010 Cr |
| (As on 30-Nov-2025) | |
| Expense | 0.79% |
| (As on 30-Nov-2025) | |
| Risk Grade | Above Average |
| Return Grade | Average |
| Turnover | 14.00% |
Trailing Returns (%) of DSP Small Cap Fund
| Fund name | YTD | 1D | 1M | 3M | 6M | 1Y | 3Y | 5Y | 7Y | 10Y |
| DSP Small Cap Dir | -1.81 | -0.57 | -0.73 | 1.67 | -1.44 | -1.42 | 22.21 | 24.04 | 21.79 | 17.06 |
| BSE 250 SmallCap TRI | -5.42 | -0.30 | -1.48 | -0.24 | -4.49 | -4.95 | 21.28 | 22.94 | 18.45 | 14.89 |
| Equity: Small Cap | -4.56 | -0.26 | -1.84 | 0.20 | -2.82 | -4.33 | 21.77 | 24.62 | 21.26 | 17.35 |
| Rank within category | 12 | 49 | 1 | 11 | 15 | 12 | 11 | 13 | 8 | 7 |
| Number of funds in category | 43 | 52 | 49 | 49 | 46 | 43 | 31 | 24 | 16 | 12 |
Peer Comparison of DSP 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 (%) | |
| DSP Small Cap Dir | 2 star | -1.42 | 22.21 | 24.04 | 0.79 | 17,010 | 21.25 | 1.00 (364) | 12Y 11M | 14.00 |
| Nippon India Small Cap Dir | 4 star | -4.03 | 23.20 | 28.67 | 0.63 | 68,572 | 24.34 | 1.00 (365) | 12Y 11M | 12.00 |
| HDFC Small Cap Dir | 4 star | 0.65 | 22.34 | 26.15 | 0.67 | 38,020 | 19.31 | 1.00 (365) | 12Y 11M | 9.49 |
| Quant Small Cap Dir | 4 star | -1.74 | 22.94 | 31.16 | 0.75 | 30,170 | 17.41 | 1.00 (365) | 12Y 11M | 151.00 |
| Bandhan Small Cap Dir | 5 star | 0.65 | 32.12 | 27.76 | 0.42 | 18,174 | 32.16 | 1.00 (365) | 5Y 10M | 25.00 |
Portfolio Analysis of DSP Small Cap Fund
| No. of Stocks | 82 |
| Top 10 Stocks | 29.28% |
| Top 5 Stocks | 17.50% |
| Top 3 Sectors | 61.73% |
| Portfolio P/B Ratio | 3.67 |
| Portfolio P/E Ratio | 29.61 |
Portfolio Breakup
| Fund | Category | |
| Average Mkt Cap (Rs Cr) | 9,753 | 19,653 |
| Giant (%) | — | 6.73 |
| Large (%) | — | 6.19 |
| Mid (%) | 33.90 | 64.67 |
| Small (%) | 65.89 | 29.82 |
| Tiny (%) | 0.20 | 0.33 |
Disclaimer: Mutual fund investments are subject to market risks. Read all scheme related documents carefully
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