Before I start off on any analysis in this segment, even at the cost of a repetitive bore I will put forth this disclaimer. All fund schemes are taken as direct. However, even if you are a direct investor, hire a financial advisor that you trust who can guide with investments. Pay for your advice.

Fund category definition: Funds with minimum 65{76b947d7ef5b3424fa3b69da76ad2c33c34408872c6cc7893e56cc055d3cd886} portfolio allocation to Small Cap (251 and beyond by market cap size) stocks

Benchmark: Nifty Small Cap 250 TRI with a change of 8.92{76b947d7ef5b3424fa3b69da76ad2c33c34408872c6cc7893e56cc055d3cd886} in July 2022 and a 1-year return of -2.69{76b947d7ef5b3424fa3b69da76ad2c33c34408872c6cc7893e56cc055d3cd886}

All data as on: 29th July, 2022

Summary

While there is no change in the AUM ranking, ICICI has raised it’s expense ratio by 7 basis points to reach 0.80{76b947d7ef5b3424fa3b69da76ad2c33c34408872c6cc7893e56cc055d3cd886}.

Nippon has slightly trimmed it’s portfolio by five stocks, to still have a long string of 144 stocks.

Although the one-year report card remains spotlessly green, for July it’s a perfectly balanced scorecard with five funds beating the benchmark and five underperforming it.

Market Cap Allocation

ICICI has reduced it’s Small cap allocation by 2.07{76b947d7ef5b3424fa3b69da76ad2c33c34408872c6cc7893e56cc055d3cd886} and overall equity exposure is cut by 2.97{76b947d7ef5b3424fa3b69da76ad2c33c34408872c6cc7893e56cc055d3cd886} making it the third fund in the category to be at a sub-90 level.

Top 5 sectors

Nippon has almost doubled it’s allocation to SBI (now at 1.40{76b947d7ef5b3424fa3b69da76ad2c33c34408872c6cc7893e56cc055d3cd886}) leading to Banks edging out Auto Ancillaries from the Top 5 Sectors.

There is a 0.89{76b947d7ef5b3424fa3b69da76ad2c33c34408872c6cc7893e56cc055d3cd886} reduction in the allocation to Birlasoft which has led to Software being replaced by Consumer Durables in the L&T fund.

In Franklin, there is an organic swap between Software and Consumer Non Durables, with the latter making the cut this month.

ICICI has increased it’s allocation in Mold-Tek packaging by 1.80{76b947d7ef5b3424fa3b69da76ad2c33c34408872c6cc7893e56cc055d3cd886} which has shot up Industrial Products to the third highest sector.

Top 10 Stocks & Movement

Nippon has five new entrants – RITES (0.60{76b947d7ef5b3424fa3b69da76ad2c33c34408872c6cc7893e56cc055d3cd886}), Zomato (0.34{76b947d7ef5b3424fa3b69da76ad2c33c34408872c6cc7893e56cc055d3cd886}), CESC (0.19{76b947d7ef5b3424fa3b69da76ad2c33c34408872c6cc7893e56cc055d3cd886}), City Union Bank (0.11{76b947d7ef5b3424fa3b69da76ad2c33c34408872c6cc7893e56cc055d3cd886}) and Gland Pharma (0.10{76b947d7ef5b3424fa3b69da76ad2c33c34408872c6cc7893e56cc055d3cd886}). With more than 140 stocks, the fund also found it easy to exit out of ten – United Spirits (0.42{76b947d7ef5b3424fa3b69da76ad2c33c34408872c6cc7893e56cc055d3cd886}), AIA Engineering (0.30{76b947d7ef5b3424fa3b69da76ad2c33c34408872c6cc7893e56cc055d3cd886}), Zee Entertainment (0.24{76b947d7ef5b3424fa3b69da76ad2c33c34408872c6cc7893e56cc055d3cd886}), Oracle Financial Services (0.20{76b947d7ef5b3424fa3b69da76ad2c33c34408872c6cc7893e56cc055d3cd886}), InterGlobe Aviation (0.18{76b947d7ef5b3424fa3b69da76ad2c33c34408872c6cc7893e56cc055d3cd886}), Tata Chemicals (0.15{76b947d7ef5b3424fa3b69da76ad2c33c34408872c6cc7893e56cc055d3cd886}), JK Lakshmi Cement (0.09{76b947d7ef5b3424fa3b69da76ad2c33c34408872c6cc7893e56cc055d3cd886}), Campus Activewear (0.06{76b947d7ef5b3424fa3b69da76ad2c33c34408872c6cc7893e56cc055d3cd886}), PTC India (0.04{76b947d7ef5b3424fa3b69da76ad2c33c34408872c6cc7893e56cc055d3cd886}), Nuvoco Vistas Corporation (0.04{76b947d7ef5b3424fa3b69da76ad2c33c34408872c6cc7893e56cc055d3cd886}).

SBI has two exits – J.K. Cement (0.88{76b947d7ef5b3424fa3b69da76ad2c33c34408872c6cc7893e56cc055d3cd886}) and MTAR Technologies (0.16{76b947d7ef5b3424fa3b69da76ad2c33c34408872c6cc7893e56cc055d3cd886}).

Axis has two new barely-there positions – Bata India (0.03{76b947d7ef5b3424fa3b69da76ad2c33c34408872c6cc7893e56cc055d3cd886}) and V-Guard (0.01{76b947d7ef5b3424fa3b69da76ad2c33c34408872c6cc7893e56cc055d3cd886}).

DSP has cut down it’s allocation in Tube Investments by 0.94{76b947d7ef5b3424fa3b69da76ad2c33c34408872c6cc7893e56cc055d3cd886} to go down to 2.44{76b947d7ef5b3424fa3b69da76ad2c33c34408872c6cc7893e56cc055d3cd886}. The fund has also exited it’s 0.11{76b947d7ef5b3424fa3b69da76ad2c33c34408872c6cc7893e56cc055d3cd886} position in Butterfly Gandhimathi Appliances.

L&T has exited it’s 0.52{76b947d7ef5b3424fa3b69da76ad2c33c34408872c6cc7893e56cc055d3cd886} position in Dollar Industries. Simultaneously, it has added 0.34{76b947d7ef5b3424fa3b69da76ad2c33c34408872c6cc7893e56cc055d3cd886} in Timken India and 0.52{76b947d7ef5b3424fa3b69da76ad2c33c34408872c6cc7893e56cc055d3cd886} in Kec International.

Franklin has added 0.16{76b947d7ef5b3424fa3b69da76ad2c33c34408872c6cc7893e56cc055d3cd886} in Tega Industries and 0.05{76b947d7ef5b3424fa3b69da76ad2c33c34408872c6cc7893e56cc055d3cd886} in Ceat.

Apart from the Mold-Tek beefing up mentioned above for ICICI, there is a 0.97{76b947d7ef5b3424fa3b69da76ad2c33c34408872c6cc7893e56cc055d3cd886} reduction in Dixon Technologies landing it at 2.07{76b947d7ef5b3424fa3b69da76ad2c33c34408872c6cc7893e56cc055d3cd886}. The fund has also exited two stocks – Heidelberg Cement India (0.70{76b947d7ef5b3424fa3b69da76ad2c33c34408872c6cc7893e56cc055d3cd886}) and Crafstman Automation (0.60{76b947d7ef5b3424fa3b69da76ad2c33c34408872c6cc7893e56cc055d3cd886}).

Canara Robeco has added a big 1.13{76b947d7ef5b3424fa3b69da76ad2c33c34408872c6cc7893e56cc055d3cd886} allocation to Avenue Supermart.

Check out the other categories and what the funds there were up to:

Large Cap Funds – July 2022

Flexi Cap Funds – July 2022

Multi Cap Funds – July 2022

Large & Mid Cap Funds – July 2022

Mid Cap Funds – July 2022