Fundalysisby DARKHORSESTOCKS

Scheme

Union Small Cap Fund

Holds 79 companies worth ₹2,633 Cr in Aug 2026.

  • Fund house

    UnionThe fund house that runs this scheme.

  • AUM

    ₹2,732 CrUnion Small Cap Fund's AUM at the end of 30 Sept 2026, as AMFI reports it. Up 2.4% on Aug 2026, ₹2,667 Cr.

  • Largest holding

    Navin Flourine International LtdNavin Flourine International Ltd is 3.7% of this scheme's NAV.

  • Fund manager

    Gaurav ChopraRuns its co-manager part since 1 Nov 2024, as the fund house dates it. With Pratik Dharmshi (co-manager).

Overview(6 Oct 2026)

Fund managers2

  1. Gaurav ChopraCo-manager · Nov 2024 · 11y · CA B.Com
  2. Pratik DharmshiCo-manager · Dec 2024 · 15y · CA B.Com
  1. Sanjay BembalkarJan 2023 – Dec 2024
  2. Hardick BoraOct 2016 – Nov 2024

Key facts

Benchmark
BSE 250 SmallCap Index (TRI)
Risk
Very High
Expense
Regular 2.17% · Direct 1.08%
Exit load
1% if units are redeemed or switched out on or before completion of 15 days from the date of allotment. Nil thereafter.
Started
10 Jun 2014
Minimum
₹1,000

Source.Its Scheme Summary Document as of 6 Oct 2026 at AMFI.

What changed(71 changes)

Oct 2026

1 change
  1. Expense ratio
    5 OctRegular 2.18% → 2.17%Direct 1.09% → 1.08%

Sept 2026

5 changes

Aug 2026

4 changes

Source.Its filings at NSE, since Aug 2024.

Fund managers over time(Oct 2016 – now)

  1. Gaurav Chopra
  2. Pratik Dharmshi
  3. Sanjay Bembalkar
  4. Hardick Bora
MainCoSlice20172019202120232025
Fig. 1.Who ran it when: each manager from the date the fund house gives, or the first document listing them where it gives none, to when they left. A slice is part of it: overseas, gold and silver, or arbitrage.

Costs(Aug 2024 – Oct 2026)

Every change to the expense ratio, newest first.
68 changesRegularDirectΔ pt
5 Oct 20262.17%1.08%0.01
28 Sept 20262.18%1.09%0.01
20 Sept 20262.18%1.08%0.02
15 Sept 20262.19%1.10%0.02
10 Sept 20262.16%1.08%0.02
6 Sept 20262.17%1.10%0.01
23 Aug 20262.19%1.11%0.01
17 Aug 20262.19%1.12%0.01
9 Aug 20262.20%1.13%0.01
2 Aug 20262.22%1.14%0.01
23 Jun 20262.22%1.15%0.01
18 Jun 20262.23%1.16%0.20
14 Jun 20262.04%0.96%0.02
8 Jun 20262.04%0.98%0.92
1 Jun 20262.97%1.90%0.94
28 May 20262.04%0.96%0.03
24 May 20262.01%0.93%0.03
18 May 20262.06%0.96%0.34
12 May 20262.40%1.30%0.33
11 May 20262.06%0.97%0.14
5 May 20262.20%1.11%0.35
28 Apr 20262.54%1.46%0.52
26 Apr 20262.04%0.94%0.51
22 Apr 20262.54%1.45%0.01
16 Apr 20262.54%1.46%0.31
9 Apr 20262.87%1.77%0.80
7 Apr 20262.06%0.97%0.11
1 Apr 20262.15%1.08%0.01
19 Mar 20262.14%1.07%0.01
16 Mar 20262.15%1.08%0.04
4 Mar 20262.11%1.04%0.01
26 Feb 20262.10%1.03%0.08
23 Feb 20262.09%0.95%0.01
3 Feb 20262.10%0.96%0.01
19 Jan 20262.11%0.97%0.01
4 Jan 20262.10%0.96%0.01
7 Dec 20252.11%0.97%0.01
25 Nov 20252.10%0.96%0.01
31 Oct 20252.09%0.95%0.03
23 Oct 20252.08%0.92%0.01
17 Sept 20252.09%0.93%0.01
3 Jul 20252.10%0.94%0.01
6 Jun 20252.11%0.95%0.01
20 May 20252.12%0.96%0.01
21 Apr 20252.13%0.97%0
11 Apr 20252.14%0.97%0.02
7 Apr 20252.13%0.95%0.01
2 Apr 20252.12%0.94%0.12
19 Mar 20252.18%1.06%0.01
28 Feb 20252.19%1.07%0.01
19 Feb 20252.18%1.06%0.01
14 Feb 20252.17%1.05%0.02
7 Feb 20252.15%1.03%0.01
3 Feb 20252.16%1.04%0.02
29 Jan 20252.18%1.06%0.03
16 Jan 20252.15%1.03%0.02
13 Jan 20252.13%1.01%0.02
10 Jan 20252.11%0.99%0.01
2 Jan 20252.10%0.98%0.02
6 Dec 20242.09%0.96%0.01
28 Nov 20242.10%0.97%0.02
18 Nov 20242.12%0.99%0.01
12 Nov 20242.11%0.98%0.01
7 Nov 20242.10%0.97%0.07
5 Nov 20242.09%0.90%0.02
25 Oct 20242.11%0.92%0.02
23 Aug 20242.09%0.90%0.04
20 Aug 20242.10%0.86%–
Direct plan, 5 Oct 2026
1.08%
Regular plan 2.17% · Exit load 1% if units are redeemed or switched out on or before completion of 15 days from the date of allotment. Nil thereafter.
Fig. 1.Total expense ratio a year, each plan's, as its Scheme Summary Documents state it, filing by filing at NSE. A change holds until the next.

Objective and risk(6 Oct 2026)

Objective

To achieve long term capital appreciation by investing in a portfolio consisting of equity and equity related securities, predominantly of small cap companies. However, there is no assurance that the Investment Objective of the scheme will be achieved.

Risk, type and benchmark

Riskometer
Very High
At launch
Very High
Type
An open ended equity scheme predominantly investing in Small Cap stocks
Benchmark
BSE 250 SmallCap Index (TRI)

Asset allocation it may hold% of NAV

  1. Equity & Equity Related Instruments of Small Cap entity(ies)
    Allowed65–100%
  2. Equity and Equity related instruments of entity(ies) other than Small Cap entity(ies)
    Allowed0–35%
  3. Money Market Instruments, Other Liquid Instruments and other assets as permitted by SEBI
    Allowed0–35%Holds1.3%
  4. Units issued by InvITs
    Allowed0–10%Holds0.0%

Holds in Aug 2026.98.7% equity · 1.3% debt and cash

How to invest(6 Oct 2026)

Buying

To start
₹1,000, then in multiples of ₹1
To add
₹1,000, then in multiples of ₹1
Most
No Limit
Systematic
SIP - Daily, Weekly, Fortnightly and Monthly, SWP - Daily/Monthly/Quarterly/Half Yearly/Yearly, STP - Daily/Weekly/Fortnightly/Monthly/Quarterly/Half Yearly
Dates
SIP - Daily (only business days) for Daily frequency, any date of the month for weekly, fortnightly and monthly frequency, STP - Daily (only business days) for Daily frequency, Monday to Friday for weekly frequency, Every Alternate Wednesday for fortnightly frequency and Any date of the month for monthly, quarterly and half yearly frequency, SWP - Daily (Only Business days) for Daily Frequency and any date of the month for monthly, quarterly, half yearly and yearly frequency
Minimum
SIP - Rs. 100 for daily SIP, Rs. 500 for weekly SIP, Rs. 500 for fortnightly SIP, Rs. 500 for monthly SIP, SWP - Rs. 500, STP - Rs. 100, then sIP - Rs. 1 thereof for all frequencies, STP - Rs. 1 thereof for all frequencies, SWP - Rs. 1 thereof for all frequencies
Instalments
SIP - 6 instalments for all frequencies, STP - 6 instalments for all frequencies/ SWP - 6 instalments for all frequencies
Most
SIP - Not applicable, STP - Not applicabl, SWP - Not applicable

Selling and switching

To redeem
₹1,000 or Units Equivalent to Rs. 1,000 units
Switch minimum
₹1,000 or Units Equivalent to Rs. 1,000 units
Switch multiples
Switch in: in multiples of Rs. 1 Switch out: in multiples of Rs. 1 or Switch in: Units equivalent to Rs. 1 Switch out: Units equivalent to Rs. 1 units
Switch most
No Limit or No Limit units

Scheme details(6 Oct 2026)

What it is

Category
Small cap Fund
Offer
20 May 2014 to 3 Jun 2014
Started
10 Jun 2014
Reopened
17 Jun 2014
Plans
Direct Plan - Growth Option · Direct plan - Reinvestment of Income Distribution cum Capital Withdrawal Option · Direct Plan - Payout of Income Distribution cum Capital Withdrawal Option · Direct Plan - Transfer of Income Distribution cum Capital Withdrawal Option · Regular Plan - Growth Option · Regular Plan - Reinvestment of Income Distribution cum Capital Withdrawal Option · Regular Plan - Payout of Income Distribution cum Capital Withdrawal Option · Regular Plan - Transfer of Income Distribution cum Capital Withdrawal Option
Face value
₹10
Listed
The Scheme being an open ended Scheme it is not proposed to be listed on any stock exchange. However, the Trustee reserves the right to list the units of the Scheme on any stock exchange(s) at its sole discretion at a later date.

How it is run

Swing pricing
No
Side-pocketing
No
Custodian
SBI-SG Global Securities Services Private Limited.
Auditor
M/s S.R Batliboi & Co. LLP
Registrar
Computer Age Management Services Limited (CAMS)
SEBI code
UNIN/O/E/SCF/14/03/0005