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Small Cap Fund SEBI Risk: Very High AMC: Nippon India Mutual Fund

Nippon India Small Cap Fund - Direct Plan - Growth

Benchmark: NIFTY Smallcap 250 TRI • Manager: Samir Rachh • Portfolio Date: 2026-09-30
Composite Health Score
89.6/100
INSTITUTIONAL_ALPHA
⚠️ Fiduciary Surveillance Alerts Triggered (1)
  • AUM Capacity Trap: Small-Cap AUM of ₹56,400 Cr exceeds the ₹25,000 Cr ceiling. Liquidity risk in market selloffs.
🔒 Deep Dive

Look-Through Forensics & Audit Narrative

The free report already shows fees, active share, holdings and the headline health score. The Deep Dive opens up what sits underneath the portfolio.

  • Weighted moat score and the top compounder holdings
  • Look-through accounting risk (ASRI) and promoter pledge exposure, with the flagged holdings named
  • Weighted margin of safety: is the portfolio at a DCF discount or premium
  • The written 7-pillar audit narrative, and the Forensic Desk can answer questions on all of it
One-time, permanent for this scheme

01: Dual-Sleeve Constituent Decomposition

Equity holdings evaluated via Forensic Equity Engine; Debt/bonds evaluated via Credit & Solvency Engine.
Equity: 23.2% (Score: 82.0) Debt: 0.0% (Score: 0.0) Cash / TREPS: 16.8%
Identifier Security Name Type Weight Sector / Rating Engine Score Diagnostic Notes
TREPS Repo Margin CASH_EQUIVALENT 16.8% CASH 100.0 Liquid Cash / Sovereign Collateral
ELECON ↗ Elecon Engineering Ltd EQUITY 3.8% Heavy Electricals 82.0 Verified 7-Pillar Equity Dossier Available
WENDT ↗ Wendt India Ltd EQUITY 3.5% Industrial Machinery 82.0 Verified 7-Pillar Equity Dossier Available
PRINCEPIPE ↗ Prince Pipes and Fittings EQUITY 3.2% Building Products 82.0 Verified 7-Pillar Equity Dossier Available
DYNAMATECH ↗ Dynamatic Technologies EQUITY 3.1% Aerospace & Defense 82.0 Verified 7-Pillar Equity Dossier Available
NEULANDLAB ↗ Neuland Laboratories Ltd EQUITY 2.9% Pharma Active Ingredients 82.0 Verified 7-Pillar Equity Dossier Available
GENSOL ↗ Gensol Engineering Ltd EQUITY 2.4% Clean Energy EPC 82.0 Verified 7-Pillar Equity Dossier Available
INOXGREEN ↗ Inox Green Energy Services EQUITY 2.2% Renewable Power 82.0 Verified 7-Pillar Equity Dossier Available
SUPRAJIT ↗ Suprajit Engineering Ltd EQUITY 2.1% Auto Ancillary 82.0 Verified 7-Pillar Equity Dossier Available

02: True Diversification & Active Share

Exposing Closet Indexing: Active Share AS = 0.5 × ∑|w_fund - w_bench|
Active Share Score
82.0%
TRUE_ACTIVE_ALPHA

High Active Share: Portfolio significantly deviates from the passive benchmark, justified active fee.

Top 10 Holdings Concentration: 40.0%

03 & 04: Risk-Adjusted Alpha & Downside Capture

Evaluating asymmetrical compounding: Downside Capture Ratio vs Upside Capture Ratio.
Sortino Ratio
2.3
Downside Risk Only
Downside Capture
61.0%
Benchmark: ≤ 75%
Capture Spread
+46.0%
UCR (107.0%) - DCR
Hurst Exponent (H)
0.7
Persistent Momentum
3-Year Rolling Return Consistency: 89.0% of windows

05: Intermediary Fee Drag & Wealth Destruction

Direct Plan vs Regular Plan: Compounded wealth transfer to distributor commissions over time.
Annual Distributor Commission Drag
80.0 bps / yr (1.49% - 0.69%)
Time Horizon Direct Plan Value (Net) Regular Plan Value (Net) Cumulative Wealth Lost Percentage Corpus Destroyed
5 Years ₹1,708,720 ₹1,648,192 -₹60,528 3.5%
10 Years ₹2,919,724 ₹2,716,538 -₹203,186 7.0%
15 Years ₹4,988,991 ₹4,477,377 -₹511,614 10.3%
20 Years ₹8,524,789 ₹7,379,579 -₹1,145,210 13.4%

💡 Fiduciary Takeaway: A ₹10.0 Lakh investment loses ₹203,186 over 10 years purely to distributor commissions in the Regular plan.

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