+91-22-48913909Nippon India/Reliance Small Cap Fund Vs L&T Emerging Businesses Fund
Both Reliance small cap Fund and L&T Emerging Businesses Fund are small-cap category schemes offered by different fund houses. Though the category of both the schemes is same, yet they differ in terms of various factors such as performance, AUM, their current NAV and other related parameters. So, let us try to understand the differences between both the differences between Reliance Small Cap Fund and L&T Emerging Businesses Fund through this article.
About Nippon India/Reliance Small Cap Fund
Nippon India Small Cap Fund (Formerly known as Reliance Small Cap Fund) is offered by Nippon Mutual Fund and was incepted on September 16, 2010. The investment objective of the scheme is to attain long-term Capital growth by predominantly Investing the corpus in equity and equity-related instruments of small cap companies.
As on January 31, 2018, some of the stocks that constituted the top 10 holdings of Reliance Small Cap Fund’s Portfolio include Navin Fluorine International Limited, Deepak Nitrite Limited, RBL Bank Limited, and ITD Cementation India Limited.
Important Information
From October 2019, Reliance Mutual Fund has been renamed as Nippon India Mutual Fund. Nippon Life has acquired majority (75%) stakes in Reliance Nippon Asset Management (RNAM). The company will continue to run its operations without any change in structure and management.
About L&T Emerging Businesses Fund
L&T Emerging Businesses Fund is an open-ended equity scheme that aims for long-term capital appreciation. It tries to attain its objective by forming a diversified portfolio mainly consisting of equity and equity-related instruments of the small-cap category. This scheme was launched on May 13, 2014. This scheme uses S&P BSE Small Cap Index to construct its portfolio.
As on January 31, 2018, some of the top 10 holdings of L&T Emerging Businesses Fund constituted of HEG Limited, Supreme Industries Limited, NOCIL Limited, and Grindwell Norton Limited.
Nippon India Small Cap Fund Vs L&T Emerging Businesses Fund
The various comparison parameters between both these funds are classified into four sections. These sections are basics section, performance section, yearly performance section and other details section. So, let us understand how these funds are differentiated on the Basis of various parameters.
Basics Section
In this basics section, some of the comparable elements include Current NAV, Category, Fincash Ratings, AUM, expense ratio, and many more. To being with the category of both the schemes, they belong to the same category of Mid & Small-Cap Fund. With respect to Current NAV, it can be seen that the NAV of Nippon India/Reliance Small Cap Fund is higher as compared to L&T Emerging Businesses Fund.
As per Fincash Rating, we can see that L&T Emerging Businesses Fund has 5-Star Rating and Reliance Small Cap Fund has 4-Star Rating.
A summary of the parameters that are a part of the Basics Section is given below.
Parameters Basics NAV Net Assets (Cr) Launch Date Rating Category Sub Cat. Category Rank Risk Expense Ratio Sharpe Ratio Information Ratio Alpha Ratio Benchmark Exit Load Nippon India Small Cap Fund
Growth
Fund Details ₹164.4 ↓ -0.52 (-0.31 %) ₹65,922 on 31 Jul 25 16 Sep 10 ☆☆☆☆ Equity Small Cap 6 Moderately High 1.44 -0.51 0 -3.84 Not Available 0-1 Years (1%),1 Years and above(NIL) SBI Focused Equity Fund
Growth
Fund Details ₹345.59 ↓ -2.73 (-0.79 %) ₹37,936 on 31 Jul 25 11 Oct 04 ☆☆ Equity Focused 32 Moderately High 1.58 -0.13 -0.17 3.97 Not Available 0-1 Years (1%),1 Years and above(NIL)
Performance Section
This section compares the performance of both the schemes at different time periods. On a hindsight, it can be said that there is not much difference in the performance of both the funds at different time periods. Though in case of Performance since Inception, L&T Emerging Businesses Fund leads Nippon India/Reliance Small Cap Fund yet; in many other time periods, the performance of Nippon India Small Cap Fund has been better. With respect to 5 Year Returns, there is no data shown in case of L&T Emerging Businesses Fund as the fund has launched in May 2014. The table given below summarizes the data of performance section.
Parameters Performance 1 Month 3 Month 6 Month 1 Year 3 Year 5 Year Since launch Nippon India Small Cap Fund
Growth
Fund Details -3.4% -0.6% 17.9% -7.9% 23% 31% 20.6% SBI Focused Equity Fund
Growth
Fund Details -0.6% 0.9% 12.3% 3.9% 14.5% 17.6% 18.4%
Talk to our investment specialist
Yearly Performance
With respect to yearly performance, L&T Emerging Businesses Fund and Nippon India/Reliance Small Cap Fund both are almost performing the same. For the year 2016, however, L&T Emerging Businesses Fund performed better than Nippon India Small Cap Fund. The table given below shows the yearly performance of both the schemes.
Parameters Yearly Performance 2024 2023 2022 2021 2020 Nippon India Small Cap Fund
Growth
Fund Details 26.1% 48.9% 6.5% 74.3% 29.2% SBI Focused Equity Fund
Growth
Fund Details 17.2% 22.2% -8.5% 43% 14.5%
Other Details Section
The other details section includes the differentiating parameters such as Minimum SIP and Lumpsum Investment. The minimum lumpsum investment in both the scheme is same that is, INR 5,000. However, the minimum SIP investment in case of Nippon India Mutual Fund is INR 100 and of L&T Emerging Businesses Fund is INR 500. The table showing the factors under other details section are listed below as follows.
The Fund managers managing the Nippon India Small Cap Fund are Mr. Samir Rachh and Mr. Dhrumil Shah.
Mr. S. N. Lahiri and Mr. Karan Desai are the fund managers managing L&T Emerging Businesses Fund.
Parameters Other Details Min SIP Investment Min Investment Fund Manager Nippon India Small Cap Fund
Growth
Fund Details ₹100 ₹5,000 Samir Rachh - 8.58 Yr. SBI Focused Equity Fund
Growth
Fund Details ₹500 ₹5,000 R. Srinivasan - 16.26 Yr.
Growth of 10k Investments over the years
Nippon India Small Cap Fund
Growth
Fund Details Growth of 10,000 investment over the years.
Date Value 31 Jul 20 ₹10,000 31 Jul 21 ₹21,333 31 Jul 22 ₹23,526 31 Jul 23 ₹31,952 31 Jul 24 ₹49,722 31 Jul 25 ₹46,790 SBI Focused Equity Fund
Growth
Fund Details Growth of 10,000 investment over the years.
Date Value 31 Jul 20 ₹10,000 31 Jul 21 ₹15,274 31 Jul 22 ₹15,851 31 Jul 23 ₹18,399 31 Jul 24 ₹23,603 31 Jul 25 ₹24,591
Detailed Assets & Holdings Comparison
Nippon India Small Cap Fund
Growth
Fund Details Asset Allocation
Asset Class Value Cash 4.05% Equity 95.95% Equity Sector Allocation
Sector Value Industrials 23.43% Financial Services 14.84% Consumer Cyclical 14.65% Basic Materials 12.82% Health Care 8.57% Consumer Defensive 8.11% Technology 7.37% Utility 2.24% Energy 1.77% Communication Services 1.45% Real Estate 0.69% Top Securities Holdings / Portfolio
Name Holding Value Quantity Multi Commodity Exchange of India Ltd (Financial Services)
Equity, Since 28 Feb 21 | MCX2% ₹1,656 Cr 1,851,010 HDFC Bank Ltd (Financial Services)
Equity, Since 30 Apr 22 | HDFCBANK2% ₹1,331 Cr 6,650,000 Kirloskar Brothers Ltd (Industrials)
Equity, Since 31 Oct 12 | KIRLOSBROS2% ₹1,054 Cr 4,472,130 Karur Vysya Bank Ltd (Financial Services)
Equity, Since 28 Feb 17 | 5900031% ₹850 Cr 31,784,062 ELANTAS Beck India Ltd (Basic Materials)
Equity, Since 28 Feb 13 | 5001231% ₹827 Cr 651,246
↑ 36,498 Apar Industries Ltd (Industrials)
Equity, Since 31 Mar 17 | APARINDS1% ₹784 Cr 899,271 Tube Investments of India Ltd Ordinary Shares (Industrials)
Equity, Since 30 Apr 18 | TIINDIA1% ₹777 Cr 2,499,222 State Bank of India (Financial Services)
Equity, Since 31 Oct 19 | SBIN1% ₹747 Cr 9,100,000 Bharat Heavy Electricals Ltd (Industrials)
Equity, Since 30 Sep 22 | 5001031% ₹732 Cr 27,500,000 Pfizer Ltd (Healthcare)
Equity, Since 28 Feb 22 | PFIZER1% ₹685 Cr 1,206,103 SBI Focused Equity Fund
Growth
Fund Details Asset Allocation
Asset Class Value Cash 5.51% Equity 93.52% Debt 0.97% Equity Sector Allocation
Sector Value Financial Services 29.69% Consumer Cyclical 21.37% Basic Materials 11.2% Communication Services 11.01% Consumer Defensive 5.49% Industrials 4.67% Technology 4.31% Health Care 3.12% Utility 2.66% Top Securities Holdings / Portfolio
Name Holding Value Quantity HDFC Bank Ltd (Financial Services)
Equity, Since 31 Jan 13 | HDFCBANK7% ₹2,802 Cr 14,000,000
↓ -3,000,000 Bharti Airtel Ltd (Partly Paid Rs.1.25) (Communication Services)
Equity, Since 30 Nov 21 | 8901576% ₹2,141 Cr 14,000,000 Alphabet Inc Class A (Communication Services)
Equity, Since 30 Sep 18 | GOOGL5% ₹2,111 Cr 1,400,000 Bajaj Finserv Ltd (Financial Services)
Equity, Since 31 Mar 25 | 5329785% ₹2,056 Cr 10,000,000 Kotak Mahindra Bank Ltd (Financial Services)
Equity, Since 30 Jun 24 | KOTAKBANK5% ₹1,947 Cr 9,000,000 Solar Industries India Ltd (Basic Materials)
Equity, Since 31 Jul 16 | SOLARINDS5% ₹1,936 Cr 1,100,000
↓ -200,000 Muthoot Finance Ltd (Financial Services)
Equity, Since 29 Feb 20 | 5333985% ₹1,837 Cr 7,000,000 EPAM Systems Inc (Technology)
Equity, Since 31 Jan 25 | EPAM4% ₹1,664 Cr 1,100,000 ICICI Bank Ltd (Financial Services)
Equity, Since 31 Oct 21 | 5321744% ₹1,590 Cr 11,000,000 Jubilant Foodworks Ltd (Consumer Cyclical)
Equity, Since 30 Nov 23 | JUBLFOOD4% ₹1,474 Cr 21,000,000
Thus, we can conclude that both the schemes differ on various parameters. However, investors should be careful while choosing any scheme for investment. Individuals should check and confirm whether the scheme matches their investment objective or not. If required they can also consult a financial advisor and get their queries resolved before investing. This will help them to ensure that their money gives them the required results and the objectives are attained timely.
All efforts have been made to ensure the information provided here is accurate. However, no guarantees are made regarding correctness of data. Please verify with scheme information document before making any investment.
AMFI Registration No. 112358 | CIN: U74999MH2016PTC282153
Shepard Technologies Pvt. Ltd. (with ARN code 112358) makes no warranties or representations, express or implied, on products offered through the platform. It accepts no liability for any damages or losses, however caused, in connection with the use of, or on the reliance of its product or related services. Terms and conditions of the website are applicable.
©2025 Shepard Technologies Private Limited. All Rights Reserved
A nice and well detailed writeup.