Potential growth tailwinds in Indian Economy.
	Opportunity to capitalize on Indian Entrepreneurship.
	Opportunity to capture market / economic cycles.
	Potential to create wealth and generate alpha over long-term.
	Small caps are generally under-researched and under-owned and hence provides an opportunity for stock-picking at reasonable valuations.
	Small Caps could be beneficiaries of structural reforms announced from time to time.
	Small caps also provide exposure to companies which are potential market leaders in the industries they operate in (a few examples include textile, paper, sugar, luggage) and have potential to become midcaps of tomorrow as they achieve scale

Fund may use following criteria for stock selection and aims to invest in growth-oriented businesses with focus on

	Strong Financials and cashflows
	Reasonable valuations
	Scalable Business model
	Emerging Business models
	Management track record
	Global trends

• Portfolio construction on bottom up stock selection basis.
  
  
• Key Overweight sectors/Industries include Power, Automobile & Auto Components and Construction Materials vs the Schemes’ Benchmark.
  
  
• Key Underweight sectors /Industries include Healthcare, IT and Capital Goods vs the Schemes’ Benchmark.
  
  
• Carrying Higher cash levels around 8.1% in the portfolio as tight monetary policy in India may continue a bit longer than expected, following higher global policy rates and upside risks to domestic inflation.
  

Instruments	Indicative Allocation (%of net assets)		Risk Profile
	Minimum	Maximum	High/Moderate/Low
Equity & Equity related instruments of Small Cap Companies#	65%	100%	Very High
Equity & Equity related instruments of other than Small Cap Companies	0%	35%	Very High
Debt and Money Market Securities (including TREPS (Tri-Party Repo), Reverse Repo)	0%	35%	Low to Moderate
Units issued by REITs & InvITs	0%	10%	Moderately High

The Scheme may take exposure in equity derivative instruments to the extent of 50% of the Equity component. Investment in derivatives shall be for hedging, portfolio balancing and such other purposes as maybe permitted from time to time under the Regulations and subject to guidelines issued by SEBI/ RBI from time to time.

#Definition of Small Cap Companies: 251st company onwards in terms of full Market Capitalization.

Security	% to Net Assets
Reliance Industries Limited	2.94%
Godrej Industries Limited	2.50%
Grasim Industries Limited	2.30%
ICRA Limited	2.26%
Cholamandalam Financial Holdings Limited	2.09%
Triveni Engineering & Industries Limited	2.08%
REC Limited	2.07%
CESC Limited	1.97%
Century Textiles & Industries Limited	1.93%
Firstsource Solutions Limited	1.91%
Total	22.04%

Sector	MMSCF	S&P BSE 250 Small Cap TRI
Financial Services	15.18%	19.31%
Capital Goods	12.52%	16.21%
Automobile And Auto Components	7.79%	4.02%
Fast Moving Consumer Goods	7.28%	4.42%
Chemicals	5.30%	6.21%

Data as on September 30, 2023

Investment Objective:
The investment objective of the Scheme is to generate long term capital appreciation by investing in a diversified portfolio of equity & equity related securities of small cap companies, However, there can be no assurance that the investment objective of the Scheme will be achieved.

Fund Manager:

Mr. Abhinav Khandelwal
Total Experience : 14 years
Experience in managing this fund: 9 Months (Managing since December 12, 2022)

Mr. Manish Lodha
Total Experience : 23 years,
Experience in managing this fund: 9 Months (Managing since December 12, 2022)

Date of allotment: December 12, 2022

Benchmark: S&P BSE 250 Small Cap TRI

Option: IDCW (IDCW Option will have IDCW Reinvestment (D) & IDCW Payout facility) and Growth (D) D-Default

Minimum Application Amount: Rs. 1,000 and in multiples of Re. 1/- thereafter

Minimum Weekly & Monthly SIP Amount: Rs 500 and in multiples of Rs 1/- thereafter

Minimum Weekly & Monthly SIP Installments: 6

Minimum Quarterly SIP Amount: Rs 1,500 and in multiples of Rs 1/- thereafter

Minimum Quarterly SIP installments: 4

Monthly AAUM as on September 30, 2023 (Rs. in Cr.): 1,788.27

Quarterly AAUM as on September 30, 2023 (Rs. in Cr.): 1,336.69

Monthly AUM as on September 30, 2023 (Rs. In Cr.): 2,150.22

Entry Load: Not applicable

Exit Load: • An Exit Load of 1% is payable if Units are redeemed / switched-out upto 3 months from the date of allotment;
• Nil if Units are redeemed / switched-out after 3 months from the date of allotment.

^Benchmark ^^Additional Benchmark. Inception/Allotment date: 12-Dec-22.
Past performance may or may not be sustained in future and should not be used as a basis of comparison with other investments. Since inception returns of the scheme is calculated on face value of Rs. 10 invested at inception. The performance details provided above are of Growth Option under Regular Plan. Different Plans i.e Regular Plan and Direct Plan under the scheme has different expense structure. *Based on standard investment of Rs. 10,000 made at the beginning of the relevant period.