Fundalysisby DARKHORSESTOCKS

Fund manager · TRUST

Mihir Vora

Vora, Chief Investment Officer at TRUST. Runs 6 schemes worth ₹7,039 Cr.

  • Fund house

    TRUSTThey run their schemes at TRUST.

  • AUM they run

    ₹7,039 CrThe AUM of the schemes they run, as main or co-manager, at the latest month's end, as AMFI reports it. A scheme two people run counts for both.

  • Schemes

    6 now · 0 beforeSchemes they run now, as main or co-manager, and ones they ran before, since Aug 2026.

  • Experience

    31 yearsOver 31 years of experience in Fund Management across various verticals in financial services industry, viz. Mutual Funds, Insurance, Sovereign Funds. October 2023 till date Chief Investment Officer, Trust Asset Management Private Limited September 2014 - September 2023 Chief Investment Officer, Max Life Insurance Company April 2012 - September 2014 Chief Investment Officer (Offshore), Birla Sunlife Asset Management

Profile(TRUST's SAI, 9 Oct 2026)

About

Role
Vora, Chief Investment Officer
Studied
CFA (ICFAI - USA) PGDM (IIM-Lucknow) Bachelor of Engineering, Maharaja Sayajirao University, Vadodara
Age
56 years
Experience
Over 31 years of experience in Fund Management across various verticals in financial services industry, viz. Mutual Funds, Insurance, Sovereign Funds. October 2023 till date Chief Investment Officer, Trust Asset Management Private Limited September 2014 - September 2023 Chief Investment Officer, Max Life Insurance Company April 2012 - September 2014 Chief Investment Officer (Offshore), Birla Sunlife Asset Management

Schemes now6

  1. TRUSTMF Small Cap Fund₹3,877 Cr
  2. TRUSTMF Flexi Cap Fund₹1,006 Cr
  3. TRUSTMF Multi Cap Fund₹914 Cr
  4. TRUSTMF Mid Cap Fund₹687 Cr
  5. TRUSTMF Large Mid Cap Fund₹418 Cr
  6. TRUSTMF Arbitrage Fund₹138 Cr

AUM they run(Mar 2025 – Sept 2026)

AUM at month end each month, and its change on the month before
12 months₹ CrChange
Sept 20267,039+10.4%
Aug 20266,378+24.5%
Jul 20265,123+14.1%
Jun 20264,491+18.6%
May 20263,785+8.8%
Apr 20263,480+24.5%
Mar 20262,796−5.5%
Feb 20262,958+3.1%
Jan 20262,869+0.4%
Dec 20252,857+2.9%
Nov 20252,777+5.5%
Oct 20252,633+6.2%
AUM at month end, Sept 2026
₹7,039 Cr
+167.3% since Oct 2025
Fig. 1.The AUM of the schemes Mihir Vora ran at each month's end, each only in the months they ran it, ₹ crore. A scheme two people run counts in full for both. Source: AMFI.

Schemes over time(Apr 2024 – now)

  1. Flexi Cap Fund
  2. Small Cap Fund
  3. Multi Cap Fund
  4. Arbitrage Fund
  5. Mid Cap Fund
  6. Large Mid Cap Fund
TRUST20252026
Fig. 1.The schemes they ran when, the oldest first: each from the date its fund house gives, or the first document listing them where it gives none, to when they left, coloured by fund house.

Schemes(Apr 2024 – now)

TRUST

6 now · since Apr 2024
  1. TRUSTMF Small Cap Fund
    Co-managerNov 2024—2y₹3,877 CrSmall CapTER 1.54%

Source.Each scheme's Scheme Summary Document at AMFI and its filings at NSE.

Performance(6 schemes)

Growth · Direct plans

Return as manager
+11.81%
Beat peers
3 of 4
vs peers
+6.60 pt
Longest run
2.5 years
Beat benchmark
Upcoming
Each scheme Mihir Vora ran, against its peers and benchmark over the same months. Source: AMFI. Click a column's header to sort by it.
TRUSTMF Flexi Cap Fund
Apr '24–now · 2.5y
+9.53%+7.05%+2.48 pt––
TRUSTMF Small Cap Fund
Nov '24–now · 1.9y
+18.01%+3.54%+14.47 pt––
TRUSTMF Multi Cap Fund
Jul '25–now · 1.2y
+14.09%+3.36%+10.73 pt––
TRUSTMF Arbitrage Fund
Sep '25–now · 1.1y
+6.44%+6.56%−0.12 pt––
TRUSTMF Mid Cap Fund
Mar '26–now · 0.6y
+17.28%+11.88%+5.40 pt––
TRUSTMF Large Mid Cap Fund
Jul '26–now · 0.2y
−3.09%−4.60%+1.52 pt––
Fig. 1.Each scheme Mihir Vora ran, against its peers and benchmark over the same months. Source: AMFI.

Works with(3 now)

  1. Aakash ManghaniSmall Cap Fund · Flexi Cap Fund · Multi Cap Fund · Mid Cap Fund · Large Mid Cap Fund5 schemes
  2. Saurabh KatariaSmall Cap Fund · Flexi Cap Fund · Multi Cap Fund · Mid Cap Fund · Large Mid Cap Fund5 schemes
  3. Bhavin HemaniArbitrage Fund1 scheme