A multi-cap fund is an investment that divides money among stocks of large, medium, and small companies. These funds are required to invest at least 65% of their money in stocks and similar assets. By investing in a multi-cap fund, investors can gain exposure to all three categories of stocks without having to invest in separate funds for each category.
As of the end of January 2024, there are 24 schemes in the multicap fund. Among them, 40.41% of the assets are in large companies, 25.9% in medium-sized companies, and 29.45% in small companies. The remaining portion is allocated to others. The total market value of the fund is Rs 1,18,083 crore.
In the current financial year, the smallcap index has shown the best performance among broader indices, gaining approximately 69%. During the same period, the benchmark index Sensex rose by 25%, large-cap stocks increased by about 32%, and mid-cap stocks went up by 66%. The significant surge in the smallcap index has also affected multicap funds, which have allocated a decent portion (29.45%) to small companies. ET Markets identified the top 6 smallcap stocks held by 9 or more multicap mutual funds as of January ’24. Interestingly, 3 out of the 6 stocks have become multibaggers in FY24, and the remaining three have gained over 50-70%. (Data Source: ACE Equity, ACE MF).
Coforge
As of January 2024, Coforge is held by 15 multicap mutual fund schemes, with a total market value of Rs 644 crore. In FY24 to date, the stock has surged 69% to reach Rs 6,442 from its value of Rs 3,817 on March 31, 2023.
ETMarkets.com
JB Chemicals & Pharmaceuticals
As of January 2024, JB Chemicals & Pharmaceuticals is held by 11 multicap mutual fund schemes, with a total market value of Rs 491 crore. In FY24 to date, the stock has surged 59% to reach Rs 1,565 from its value of Rs 985 on March 31, 2023.
ETMarkets.com
Kaynes Technology India
As of January 2024, Kaynes Technology India is held by 11 multicap mutual fund schemes, with a total market value of Rs 357 crore. In FY24 to date, the stock has surged 222% to reach Rs 3,104 from its value of Rs 963 on March 31, 2023.
ETMarkets.com
CreditAccess Grameen
As of January 2024, CreditAccess Grameen is held by 9 multicap mutual fund schemes, with a total market value of Rs 370 crore. In FY24 to date, the stock has surged 58% to reach Rs 1,446 from its value of Rs 915 on March 31, 2023.
ETMarkets.com
KEI Industries
As of January 2024, KEI Industries is held by 9 multicap mutual fund schemes, with a total market value of Rs 299 crore. In FY24 to date, the stock has surged 101% to reach Rs 3,418 from its value of Rs 1,700 on March 31, 2023.
ETMarkets.com
Dixon Technologies (India)
As of January 2024, Dixon Technologies (India) is held by 9 multicap mutual fund schemes, with a total market value of Rs 271 crore. In FY24 to date, the stock has surged 150% to reach Rs 7,161 from its value of Rs 2862 on March 31, 2023.
ETMarkets.com
