A nine-day rally in the Nifty Smallcap 250 index has put it on track to reclaim the level last seen on February 27 when Sebi s warning caused the bulls to hit a bump.
Bandhan Mutual Fund announced the launch of the Bandhan Nifty Smallcap 250 Index Fund. The scheme opened for public subscription on December 12, 2023, and will close on December 19, 2023.
The investment objective of the scheme is to replicate the Nifty Smallcap 250 index by investing in securities of the Nifty Smallcap 250 Index in the same proportion/weightage with an aim to provide returns before expenses that closely correspond to the total return of Nifty Smallcap 250 Index, subject to tracking errors.
"Most of us generally say mid and smallcap in the same sentence. But they are two very diverse groups. The largest smallcap is now about Rs 17,000 crore. Five years back, it was just Rs 8,200 crore. So, smallcap as an English word is hiding more than it is saying because it was called small cap then, it is called smallcap now but Rs 17,000-crore businesses being called smallcap is something which hit me harder when I was actually doing the math."