April 2, 2026
RA Jainee
Union Small Cap Fund
| Fund at a Glance | |
| NAV Growth (Rs.) | 50.4 |
| NAV Bonus (Rs.) | — |
| NAV IDCW (Rs.) | 37.73 |
| Min. Investment (Rs.) | 1,000 |
| Min. SIP Investment (Rs.) | 500 |
| Min. No of Cheques | 6 |
| Benchmark | BSE 250 SmallCap TRI |
| AUM Rs. | 1,787 Cr |
| (As on 28-Feb-2026) | |
| Expense | 1.08% |
| 1 Year Return (%) | 7.05 |
| 3 Year Return (%) | 18.73 |
| 5 Year Return (%) | 17.67 |
| 10 Year Return (%) | 16.02 |
| Return Since Launch | 14.67% |
⚖️ Sahifund Review – Union Small Cap Fund ✔
✓ PLUS: Union Small Cap Fund has shown strong long-term return consistency, with solid 3-year, 5-year and 10-year performance, and has also outperformed its benchmark and category in 1-year, 3-year and long periods. The fund offers good diversification with 68 stocks, a reasonably balanced portfolio, and remains suitable for SIP-based long-term wealth creation in the small-cap category. Its AUM of Rs. 1,787 crore is still manageable, which is a positive for stock selection flexibility in the small-cap space.
⚖️ MINUS: Recent momentum remains a bit uneven, with negative short-term returns over 1 month, 3 months and 6 months, showing that near-term volatility is still high. The expense ratio of 1.08% is on the higher side versus key peers, while the portfolio also carries a rich valuation profile with elevated P/E and P/B levels. Since it is a pure small-cap fund, investors must also be prepared for sharper corrections during weak market phases.
Sahifund View:
A strong long-term SIP candidate for aggressive investors, but only if you can handle small-cap volatility with patience.
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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:
• Seeking exposure in small-cap stocks for high returns
• Aiming for long-term wealth creation
• With a 7+ year investment horizon
• Who can withstand interim sharp declines in investment value
Note:
• Invest only through SIP
Fund’s Investment Strategy:
The scheme seeks to achieve long term capital appreciation by investing in a portfolio consisting of equity and equity related securities, predominantly of small cap companies.
Fund Manager:
1) Gaurav Chopra
Education: Mr. Chopra has done B.Com, Chartered Accountant and CFA (Level III cleared)
Experience: Prior to joining Union Mutual Fund, he was associated with Centrum Portfolio Management Services- Centrum Broking Ltd., Barclays Wealth Trustees (India) Pvt. Ltd. and Sharp & Tanan Associates
2) Pratik Dharmshi
Education: Mr. Dharmshi has done B. Com & CA
Experience: Prior to joining Union AMC, he was associated with UTI Pension Fund Limited, Safe Enterprises, Girik Capital, Edelweiss AMC, JP Morgan India Pvt. Ltd., CRISIL Ltd. & Morgan Stanley Advantage Services Pvt. Ltd.
Investment Details
| Min. Investment (Rs) | 1,000 |
| Min. Addl Investment (Rs) | 1,000 |
| Min. SIP Investment (Rs) | 500 |
| Min. Withdrawal (Rs) | 1,000 |
| Min. No of Cheques | 6 |
| Min. Balance (Rs) | 1 |
| Lock-in Period | NA |
| Exit Load | 1% for redemption within 15 days |
Basic Details of Union Small Cap Fund
| Fund House | Union Mutual Fund |
| Launch Date | 10-Jun-14 |
| Return Since Launch | 14.67% |
| Benchmark | BSE 250 SmallCap TRI |
| Riskometer | Very High |
| Type | Open-ended |
| Assets (Rs.) | 1,787 Cr |
| (As on 28-Feb-2026) | |
| Expense | 1.08% |
| (As on 31-Mar-2026) | |
| Risk Grade | Average |
| Return Grade | Average |
| Turnover | 51.00% |
Union Small Cap Fund Returns
| Fund name | YTD | 1D | 1M | 3M | 6M | 1Y | 3Y | 5Y | 7Y | 10Y |
| Union Small Cap Dir | -6.91 | 0.00 | -8.40 | -6.91 | -5.78 | 7.05 | 18.73 | 17.67 | 19.47 | 16.02 |
| BSE 250 SmallCap TRI | -15.23 | -2.57 | -10.32 | -15.23 | -15.39 | -5.83 | 16.36 | 15.43 | 14.86 | 14.47 |
| Equity: Small Cap | -12.80 | 0.00 | -9.55 | -12.80 | -12.33 | -3.01 | 17.30 | 17.70 | 18.81 | 16.95 |
| Rank within category | 1 | 6 | 10 | 1 | 2 | 1 | 7 | 11 | 8 | 9 |
| Number of funds in category | 51 | 54 | 52 | 51 | 48 | 45 | 30 | 23 | 18 | 11 |
Peer Comparison of Union 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 (%) | |
| Union Small Cap Dir | 3 star | 7.05 | 18.73 | 17.67 | 1.08 | 1,787 | 14.67 | 1.00 (15) | 11Y 9M | 51.00 |
| Nippon India Small Cap Dir | 4 star | -1.40 | 18.17 | 20.89 | 0.67 | 67,642 | 22.68 | 1.00 (365) | 13Y 3M | 15.00 |
| HDFC Small Cap Dir | 4 star | -1.59 | 15.11 | 18.58 | 0.80 | 37,424 | 17.54 | 1.00 (365) | 13Y 3M | 7.80 |
| Quant Small Cap Dir | 4 star | -3.43 | 17.83 | 22.94 | 0.83 | 27,654 | 15.88 | 1.00 (365) | 13Y 3M | 151.00 |
| Axis Small Cap Dir | 4 star | -1.73 | 15.86 | 17.67 | 0.56 | 26,008 | 21.28 | 1.00 (365) | 12Y 4M | 38.00 |
Union Small Cap Fund Portfolio
| No. of Stocks | 68 |
| Top 10 Stocks | 33.80% |
| Top 5 Stocks | 19.35% |
| Top 3 Sectors | 66.52% |
| Portfolio P/B Ratio | 5.24 |
| Portfolio P/E Ratio | 39.27 |
Portfolio Breakup
| Fund | Category | |
| Average Mkt Cap (Rs Cr) | 23,404 | 19,151 |
| Giant (%) | — | — |
| Large (%) | — | 7.48 |
| Mid (%) | 25.71 | 13.67 |
| Small (%) | 74.29 | 84.01 |
| Tiny (%) | — | — |
Disclaimer: Mutual fund investments are subject to market risks. Read all scheme related documents carefully
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