LIC MF Small Cap Fund is a Small Cap fund run by LIC Mutual Fund. On 30-09-2026, it managed ₹841 Cr of investors' money. In the 3 years to 30-10-2026, its Direct plan returned 16.1% a year and its Regular plan returned 14.7% a year. Its benchmark, Nifty Smallcap 250 TRI, returned 12.3% a year over the same 3 years.
NAV (Direct plan)
₹37.15
▼ 1.30% · 30-10-2026
NAV (Regular plan)
₹32.62
▼ 1.31% · 30-10-2026
Expense ratio
1.30%Direct2.64%Regular
1.30%
A year
Riskometer
Very High
Set by the fund house
3 year return
16.1%Direct14.7%Regular
16.1%
A year
LIC MF Small Cap Fund NAV Today
NAV on 30-10-2026: Direct Plan Growth ₹37.15 (down 1.30% that day); Regular Plan Growth ₹32.62 (down 1.31% that day).
This fund (Direct plan)
₹37.1474
LIC MF Small Cap Fund Returns vs Nifty Smallcap 250 TRI
Returns as on 30-10-2026. Up to one year they are absolute returns. Longer periods are a rate per year.
Trailing returns
Period
1M
3M
6M
1Y
3Y
5Y
10Y
This fund (Direct)
−6.54%
−1.19%
+7.25%
+7.49%
+16.08%
--
--
This fund (Regular)
−6.64%
−1.52%
+6.53%
+6.06%
+14.65%
--
--
Nifty Smallcap 250 TRI
−5.78%
−5.87%
+0.62%
−3.15%
+12.35%
+13.11%
+13.34%
Small Cap average
−5.86%
−3.28%
+5.03%
+3.00%
+14.03%
--
--
Best in Small Cap
−2.98%
+10.76%
+19.23%
+19.98%
+22.07%
--
--
Worst in Small Cap
−11.16%
−7.95%
−4.62%
−10.42%
+8.13%
--
--
Rank in Small Cap
24/36
7/36
12/36
9/31
7/24
--
--
Category rows compare the Direct plans of 36 Small Cap funds. Rank 1 is the highest return.
LIC MF Small Cap Fund Year-wise Returns
Return of each calendar year
Year
Direct
Regular
Nifty Smallcap 250 TRI
2026to date
+12.02%
+10.78%
+1.00%
2025
−12.15%
−13.39%
−5.48%
2024
+41.47%
+40.01%
+27.21%
LIC MF Small Cap Fund Rolling Returns
The return of every holding period in the fund's history, not only the one that ends today
Rolling returns
Each point is the yearly return of one 3-year holding period, plotted on the day it ended. There are 61 periods, one for each trading day from 31-07-2026 to 30-10-2026.
0%5%10%15%20%25%
LIC MF Small Cap Fund (Direct)
Nifty Smallcap 250 TRI
Aug 2023 to Aug 2026Aug 2023 to Aug 2026Sept 2023 to Sept 2026Sept 2023 to Sept 2026Oct 2023 to Oct 2026Oct 2023 to Oct 2026
LIC MF Small Cap Fund (Direct)Nifty Smallcap 250 TRI
0%
0%
Below 0%
0%
0%
0-5%
0%
0%
5-10%
2%
46%
10-15%
80%
54%
15-20%
18%
0%
20-25%
0%
0%
Above 25%
Every holding period at a glance
Period
Periods
Median
Lowest
Highest
With a loss
Benchmark median
Beat benchmark
1 year
555
8.1%
−16.4%
60.3%
31%
4.0%
60%
2 years
306
7.3%
0.8%
21.8%
0%
4.0%
89%
3 years
61
18.8%
14.9%
20.8%
0%
15.3%
100%
Every SIP holding period at a glance
Period
Periods
Median
Lowest
Highest
With a loss
Benchmark median
Beat benchmark
1 year
28
5.4%
−29.1%
73.0%
39%
5.5%
64%
Lumpsum: the yearly rate (CAGR) from the NAV on a period's first day to the NAV on its last. SIP: the XIRR of the monthly instalments and their value on the last day. "With a loss" counts the periods that ended below the money put in. "Beat benchmark" counts the periods in which the fund did better than Nifty Smallcap 250 TRI over the same days. Past returns do not promise future returns.
LIC MF Small Cap Fund Risk
How much it swings, and the falls an investor had to sit through
Risk and return
Measure
LIC MF Small Cap Fund (Direct)This fund
Nifty Smallcap 250 TRI
Return (CAGR)
+7.49%
−3.15%
Standard deviation
18.23%
17.96%
Sharpe ratio
0.12
-0.47
Sortino ratio
0.17
-0.63
Maximum drawdown
−15.9%
(23-03-2026)
−18.2%
(23-03-2026)
Beta
0.96
1.00
Alpha
+10.27%
0.00%
From daily NAVs, 30-10-2025 to 30-10-2026. Standard deviation: how much the daily value swings, scaled to a year. Sharpe: return above the risk-free rate (NSE's overnight rate index) per unit of swing. Sortino: the same, counting only the falls. Beta: 1 moves with the benchmark, below 1 moves less. Alpha: return beyond what its beta explains, a year.
Measure
LIC MF Small Cap Fund (Direct)This fund
Nifty Smallcap 250 TRI
Return (CAGR)
+16.08%
+12.35%
Standard deviation
19.25%
19.08%
Sharpe ratio
0.52
0.33
Sortino ratio
0.70
0.44
Maximum drawdown
−27.0%
(03-03-2025)
−26.0%
(03-03-2025)
Beta
0.96
1.00
Alpha
+4.00%
0.00%
From daily NAVs, 30-10-2023 to 30-10-2026. Standard deviation: how much the daily value swings, scaled to a year. Sharpe: return above the risk-free rate (NSE's overnight rate index) per unit of swing. Sortino: the same, counting only the falls. Beta: 1 moves with the benchmark, below 1 moves less. Alpha: return beyond what its beta explains, a year.
Measure
LIC MF Small Cap Fund (Direct)This fund
Nifty Smallcap 250 TRI
Return (CAGR)
+15.90%
+13.44%
Standard deviation
18.86%
18.82%
Sharpe ratio
0.52
0.39
Sortino ratio
0.69
0.51
Maximum drawdown
−27.0%
(03-03-2025)
−26.0%
(03-03-2025)
Beta
0.95
1.00
Alpha
+2.83%
0.00%
From daily NAVs, 31-07-2023 to 30-10-2026. Standard deviation: how much the daily value swings, scaled to a year. Sharpe: return above the risk-free rate (NSE's overnight rate index) per unit of swing. Sortino: the same, counting only the falls. Beta: 1 moves with the benchmark, below 1 moves less. Alpha: return beyond what its beta explains, a year.
Drawdowns
How far below its previous high each one was on every day: the falls an investor had to sit through. 0% means it was at a new high.
−30%−25%−20%−15%−10%−5%0%
LIC MF Small Cap Fund (Direct)
Nifty Smallcap 250 TRI
202420252026
LIC MF Small Cap Fund (Direct)Nifty Smallcap 250 TRI
Worst fall
High before it
Bottom
Back at the high
Time to climb back
Below its high today
LIC MF Small Cap Fund (Direct)
−27.0%
03-01-2025
03-03-2025
05-08-2026
17 months
−9.5%
Nifty Smallcap 250 TRI
−26.0%
23-09-2024
03-03-2025
26-08-2026
18 months
−9.4%
From the Direct plan's daily NAV since 31-07-2023, adjusted for unit splits, and Nifty Smallcap 250 TRI over the same days. "Time to climb back" runs from the bottom to the first day back at the old high.
LIC MF Small Cap Fund vs Other Small Cap Funds
The five Small Cap funds with the best three year return, and this fund. Direct plans.
AUM is each fund's size at the end of its last reported month, from its own portfolio file. We calculate the risk ratios from daily NAVs over the last three years. The risk-free return is what NSE's overnight rate index earned over the same years. Alpha and beta compare each fund with its own benchmark's TRI. "--" means we have no figure: for alpha and beta, no daily series for that benchmark.
LIC MF Small Cap Fund Expense Ratio and Costs
What each plan charges a year, in force from 22-10-2026
Plan
Base expense ratio
Brokerage
Transaction costs
Levies and GST
Total expense ratio
Small Cap median
Cost rank (1 = cheapest)
Direct
0.82%
0.11%
0.01%
0.36%
1.30%
0.91%
33/36
Regular
2.01%
0.11%
0.01%
0.51%
2.64%
2.06%
32/36
The expense ratio comes out of the fund's assets every day, so every return on this page is already after it. Base expense ratio: the fund house's own fee. The total adds brokerage, the cost of executing trades, and statutory levies with GST. From AMFI's expense ratio file. Cost rank: where this plan comes when the Small Cap funds' plans of the same type are sorted from the lowest total expense ratio to the highest.
Direct vs Regular: what the gap cost
Both plans own the same portfolio, so the difference in what they earned is the Regular plan's extra cost, taken out of its NAV.
Over the last
Regular
Direct
Direct earned more by
₹1 lakh became (Regular)
₹1 lakh became (Direct)
1 year
6.06%
7.49%
1.43%
₹1,06,060
₹1,07,490
3 years
14.65%
16.08%
1.43% a year
₹1,50,703
₹1,56,413
Returns over more than 1 year are a rate a year (CAGR). ₹1 lakh invested once at the start of each period, valued on the last NAV.
LIC MF Small Cap Fund SIP Calculator
What a one-time or monthly investment in this fund would be worth today, from its own NAV history
Growth of an investment
Step up each year
PeriodFor
₹10,000 on the first trading day of every month, from 31-07-2023 to 30-10-2026: 40 instalments, ₹4,00,000 in all.
Investment
Invested
Value now
Gain
Return a year
Direct planLIC MF Small Cap Fund (Direct)
₹4,00,000
₹4,73,153
₹73,153
10.1%
Regular planLIC MF Small Cap Fund (Regular)
₹4,00,000
₹4,62,170
₹62,170
8.7%
Nifty Smallcap 250 TRI
₹4,00,000
₹4,34,204
₹34,204
4.9%
Category averageCategory average, 36 Small Cap funds
₹4,00,000
₹4,65,604
₹65,604
9.1%
₹0₹2.0 L₹4.0 L₹6.0 L
Direct planLIC MF Small Cap Fund (Direct)
Regular planLIC MF Small Cap Fund (Regular)
Nifty Smallcap 250 TRI
Category averageCategory average, 36 Small Cap funds
Amount invested
202420252026
Direct planLIC MF Small Cap Fund (Direct)Regular planLIC MF Small Cap Fund (Regular)Nifty Smallcap 250 TRICategory averageCategory average, 36 Small Cap fundsAmount invested
From each plan's published NAV (Growth option), the benchmark's TRI and the category average, over the same days. Return a year: XIRR for a SIP, CAGR for a lumpsum, shown for a year or more. It does not include exit load, stamp duty or tax. Past returns do not promise future returns.
LIC MF Small Cap Fund Asset Allocation
Asset allocation as on 30-09-2026
What the fund holds
94.1%Equity
Asset
Fund
Category
Equity
94.1%
93.6%
Cash and others
5.9%
5.8%
Market cap of stocks
Market cap
Fund
Category
Large Cap
1.4%
4.8%
Mid Cap
5.5%
10.9%
Small Cap
84.1%
73.6%
Not on AMFI's list
3.2%
4.2%
Share of the whole fund. Category: the average of the Small Cap funds that hold stocks. Groups follow AMFI's latest list, as SEBI defines them: Large Cap is the 100 largest companies, Mid Cap the next 150, Small Cap the rest.
LIC MF Small Cap Fund Sector Allocation
Sector allocation of the fund's stocks as on 30-09-2026
Largest sectors
Industrial Products15.7%
Auto Components6.8%
Electrical Equipment6.3%
Pharmaceuticals & Biotechnology6.0%
Banks5.3%
Industrial Manufacturing5.1%
Chemicals & Petrochemicals5.0%
Food Products4.2%
Agricultural, Commercial & Construction Vehicles3.9%
Retailing3.7%
The ten largest of 27 sectors. The other 17 add up to 32.3%.
Sector changes
Sector
July 2026
August 2026
September 2026
Change
Industrial Products
18.0%
15.8%
15.7%
−2.3%
Auto Components
8.7%
7.3%
6.8%
−1.9%
Electrical Equipment
8.7%
7.9%
6.3%
−2.4%
Pharmaceuticals & Biotechnology
6.0%
5.9%
6.0%
0.0%
Banks
5.6%
5.5%
5.3%
−0.3%
Each sector's share of the fund at the end of each month. The five largest sectors of September 2026. Change: from July 2026 to September 2026, in % of the fund.
LIC MF Small Cap Fund Portfolio Holdings
As on 30-09-2026 · 55 holdings · from the fund house's monthly portfolio
Holdings
Sector
Weight%
Holdings trend
1M change
Garware Hi-Tech Films Ltd.
Industrial Products
4.72%
0.0%
Manorama Industries Ltd.
Food Products
3.14%
0.0%
Avalon Technologies Ltd.
Electrical Equipment
3.06%
−22.8%
INDO-MIM Ltd.
Industrial Manufacturing
3.04%
+32.1%
Allied Blenders And Distillers Ltd.
Beverages
2.90%
0.0%
Navin Fluorine International Ltd.
Chemicals & Petrochemicals
2.87%
0.0%
Neuland Laboratories Ltd.
Pharmaceuticals & Biotechnology
2.35%
+27.5%
SML Mahindra Ltd.
Agricultural, Commercial & Construction Vehicles
2.32%
0.0%
Kirloskar Oil Engines Ltd.
Industrial Products
2.16%
0.0%
Brigade Enterprises Ltd.
Realty
2.13%
0.0%
Lumax Auto Technologies Ltd.
Auto Components
2.11%
0.0%
Pricol Ltd.
Auto Components
2.11%
0.0%
Leela Palaces Hotels & Resorts Ltd.
Leisure Services
2.05%
+100.0%
Arvind Ltd.
Textiles & Apparels
2.03%
+10.5%
Kennametal India Ltd.
Industrial Manufacturing
2.03%
0.0%
Ather Energy Ltd.
Automobiles
1.94%
0.0%
Cartrade Tech Ltd.
Retailing
1.93%
+130.4%
Multi Commodity Exchange Of India Ltd.
Capital Markets
1.91%
+25.8%
Oracle Financial Services Software Ltd.
IT - Software
1.88%
0.0%
KSH International Ltd.
Industrial Products
1.88%
0.0%
City Union Bank Ltd.
Banks
1.84%
0.0%
Ujjivan Small Finance Bank Ltd.
Banks
1.76%
0.0%
One 97 Communications Ltd.
Financial Technology (Fintech)
1.73%
0.0%
Arvind Fashions Ltd.
Retailing
1.73%
0.0%
Schneider Electric Infrastructure Ltd.
Electrical Equipment
1.70%
0.0%
Ratnamani Metals & Tubes Ltd.
Industrial Products
1.68%
0.0%
Vidya Wires Ltd.
Industrial Products
1.65%
+11.4%
DCB Bank Ltd.
Banks
1.65%
0.0%
BEML Ltd.
Agricultural, Commercial & Construction Vehicles
1.61%
0.0%
Elecon Engineering Company Ltd.
Electrical Equipment
1.58%
+21.1%
Aavas Financiers Ltd.
Finance
1.54%
0.0%
Piramal Pharma Ltd.
Pharmaceuticals & Biotechnology
1.49%
0.0%
Aditya Birla Sun Life AMC Ltd.
Capital Markets
1.46%
0.0%
Ingersoll Rand (India) Ltd.
Industrial Products
1.42%
0.0%
Dr Agarwal's Health Care Ltd.
Healthcare Services
1.42%
0.0%
Transport Corporation Of India Ltd.
Transport Services
1.41%
0.0%
Carraro India Ltd.
Auto Components
1.39%
0.0%
Tata Motors Passenger Vehicles Ltd.
Automobiles
1.38%
0.0%
Gillette India Ltd.
Personal Products
1.36%
0.0%
Cholamandalam Financial Holdings Ltd.
Finance
1.29%
0.0%
ZF Commercial Vehicle Ctrl Sys Ind Ltd.
Auto Components
1.21%
0.0%
SKF India (Industrial) Ltd.
Industrial Products
1.21%
0.0%
Onesource Specialty Pharma Ltd.
Pharmaceuticals & Biotechnology
1.17%
0.0%
Affle 3i Ltd.
IT - Services
1.11%
0.0%
Foseco India Ltd.
Chemicals & Petrochemicals
1.08%
0.0%
SP Apparels Ltd.
Textiles & Apparels
1.07%
0.0%
Bikaji Foods International Ltd.
Food Products
1.04%
0.0%
Techno Electric & Engineering Co. Ltd.
Construction
1.04%
0.0%
Vinati Organics Ltd.
Chemicals & Petrochemicals
1.02%
0.0%
Shakti Pumps (India) Ltd.
Industrial Products
0.98%
0.0%
Cohance Lifesciences Ltd.
Pharmaceuticals & Biotechnology
0.96%
New
Delhivery Ltd.
Transport Services
0.93%
0.0%
Campus Activewear Ltd.
Consumer Durables
0.89%
0.0%
Gujarat Energy Ltd.
Gas
0.65%
0.0%
GSPL Transmission Ltd.
Power
0.13%
0.0%
LIC MF Small Cap Fund Stocks Bought and Sold
All changes are between August 2026 and September 2026
More
Stocks bought and sold in September 2026
Avalon Technologies Ltd.
↓Reduced
−22.8%
3.06%
INDO-MIM Ltd.
↑Added
+32.1%
3.04%
Neuland Laboratories Ltd.
↑Added
+27.5%
2.35%
Leela Palaces Hotels & Resorts Ltd.
↑Added
+100.0%
2.05%
Arvind Ltd.
↑Added
+10.5%
2.03%
Cartrade Tech Ltd.
↑Added
+130.4%
1.93%
Multi Commodity Exchange Of India Ltd.
↑Added
+25.8%
1.91%
Vidya Wires Ltd.
↑Added
+11.4%
1.65%
Elecon Engineering Company Ltd.
↑Added
+21.1%
1.58%
Pfizer Ltd.
↓Sold out
−100%
was 1.11%
Cohance Lifesciences Ltd.
↑New
New
0.96%
Bharat Bijlee Ltd.
↓Sold out
−100%
was 0.86%
No stocks in this group for September 2026.
A change is counted by the number of shares the fund holds, not by price. A stock can become a smaller part of the fund in a month when the fund bought more of it, if its price fell. Debt papers are left out.
Overlap: for each holding both funds own, the smaller of its two weights, added up. 40% means 40% of each fund's money sits in positions the other also holds. From each fund's latest monthly portfolio, matched by ISIN. Cash and hedged positions are left out. Funds that overlap under 10% are not listed. A high overlap does not make two funds the same: their costs, lock-in and category can differ.
LIC MF Small Cap Fund Overview
Fund facts from the scheme summary document, as on 16-10-2026
Expense ratio (Direct)
1.30%
Expense ratio (Regular)
2.64%
Category
Small Cap
Risk
Very High
Benchmark
Nifty Smallcap 250 TRI
Launch date
21-06-2017
Minimum investment
₹5,000
Minimum additional investment
₹500
AUM
₹841.28 Cr (30-09-2026)
Lock in
None
Scheme code (Direct)
152004
ISIN (Direct)
INF397L01JS1
Scheme code (Regular)
152003
ISIN (Regular)
INF397L01JW3
NAV history
From 31-07-2023, 3.2 years
Exit load
Nil, If units of the Scheme are redeemed or switched out up to 12% of the units (the limit) within 12 months from the date of allotment. 1% of the applicable NAV, If units of the scheme are redeemed or switched out in excess of the limit within 12 months from the date of allotment. Nil, If units of scheme are redeemed or switched out after 12 months from the date of allotment.
Tax on LIC MF Small Cap Fund returns
LIC MF Small Cap Fund is taxed as an equity fund: 65% or more of it is in Indian stocks.
Units sold within 1 year: the gain is taxed at 20%.
Units held longer: gains above ₹1.25 lakh in a financial year, across all your equity funds and shares, are taxed at 12.5%.
IDCW (dividend) payouts are added to your income and taxed at your slab rate.
A stamp duty of 0.005% is deducted when you invest.
Rules in force from 23-07-2024 (Finance Act 2024). Tax depends on your own income; this is general information, not tax advice.
All plans and options
Plan
Option
NAV
As on
direct
Growth
₹37.1474
30-10-2026
direct
IDCW
₹37.1392
30-10-2026
regular
Growth
₹32.6162
30-10-2026
regular
IDCW
₹32.6158
30-10-2026
About LIC MF Small Cap Fund
LIC MF Small Cap Fund is a mutual fund from LIC Mutual Fund. Its category is Small Cap. It was launched on 21-06-2017. Its benchmark is Nifty Smallcap 250 TRI. At the end of September 2026 it held 55 securities.
Fund Manager
Dikshit Mittal
Fund manager of LIC MF Small Cap Fund, since 24-07-2025
Sudhanshu Asthana
Fund manager of LIC MF Small Cap Fund, since 01-09-2026
Frequently Asked Questions for LIC MF Small Cap Fund
What is the current NAV of LIC MF Small Cap Fund?
The Direct plan NAV is ₹37.1474. The Regular plan NAV is ₹32.6162, as on 30-10-2026.
What are the returns of LIC MF Small Cap Fund?
The Direct plan returned +7.49% in 1 year, +16.08% a year over 3 years. The Regular plan returned +6.06% in 1 year, +14.65% a year over 3 years. These figures are as on 30-10-2026.
What is the expense ratio of LIC MF Small Cap Fund?
The Direct plan charges 1.30% a year. The Regular plan charges 2.64% a year. This is the figure the fund house reported to AMFI, in force from 22-10-2026.
What is the AUM of LIC MF Small Cap Fund?
LIC MF Small Cap Fund managed ₹841.28 Cr on 30-09-2026, as its fund house reported in its monthly portfolio.
What are the top holdings of LIC MF Small Cap Fund?
At the end of September 2026 the largest holdings were GRWRHITECH (4.72%), MANORAMA (3.14%), AVALON (3.06%), INDOMIM (3.04%), ABDL (2.90%). The fund held 55 securities in all.
What did LIC MF Small Cap Fund buy and sell in September 2026?
It bought 1 new stock: Cohance Lifesciences Ltd. It sold out of 2: Pfizer Ltd, Bharat Bijlee Ltd. It added shares in 8. It reduced 1.
How do I invest in LIC MF Small Cap Fund?
Through LIC Mutual Fund's website or app, a mutual fund distributor, or an investment platform. Choose the Direct plan to pay no distributor commission, or the Regular plan to invest through a distributor. The first investment is at least ₹5,000. You can invest once or through a monthly SIP.
Sources: NAV and expense ratio from AMFI. Holdings from the fund house's monthly portfolio statement. Fund facts from its scheme summary document, as on 16-10-2026.
This page is information, not investment advice. Mutual fund investments are subject to market risks; read all scheme related documents carefully. Past returns do not promise future returns. Figures come from AMFI, NSE, BSE and each fund house's own documents.
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