Aditya Birla SL Small Cap Fund — Deep Analysis

Live data: Fetching from MF API India — charts and returns loading below...

Fund Overview

Aditya Birla SL Small Cap Fund — Quick Summary

Aditya Birla Sun Life Small Cap Fund is one of India's oldest small cap funds, launched in May 2007 — making it nearly 18 years old with a track record spanning multiple market cycles including the 2008 global financial crisis, 2015-16 slowdown, 2018 NBFC crisis, and 2020 COVID crash. Backed by India's largest private sector fund house by AUM, the fund benefits from ABSL's extensive research team. However, its relatively high expense ratio of 0.88% and mixed performance compared to peers are important considerations.

Fund House

Aditya Birla Sun Life Mutual Fund

✓ Suitable For

✓Investors with 7+ year horizon who can stay patient through crashes

✓SIP investors doing rupee cost averaging every month without stopping

✓Those seeking high wealth creation and comfortable with high volatility

✓Experienced investors using this as a satellite allocation in a diversified portfolio

✗ Not Suitable For

✗First-time investors — start with a large cap or hybrid fund first

✗Anyone who needs money within 3–5 years — small caps can be down for years

✗Investors who panic sell — 40–50% crashes are normal in this category

✗Those making it their only fund — concentration in small caps is dangerous

Who Runs This Fund

Fund Manager

VB

Vishal Gajwani

Fund Manager, Aditya Birla Sun Life MF

Managing Since

2020

Experience

15+ Years

Funds Managed

3 Funds

Total AUM

₹8,000 Cr+

Vishal Gajwani took over management of ABSL Small Cap Fund in 2020 and has been working to improve its performance relative to peers. He follows a value-growth blended approach, focusing on identifying businesses with improving return ratios. ABSL MF's large research team provides strong coverage across the small cap universe.

Fund History

Key Moments in Fund's Life

May 2007

🚀 Fund Launch

One of the oldest small cap funds in India. Launched by the then Birla Sun Life (now Aditya Birla Sun Life after merger with Sun Life Financial). Initial focus was on smaller companies with high growth potential.

2008

💥 Global Financial Crisis

Brutal first major test — the 2008 GFC caused catastrophic losses in small caps globally. The fund lost heavily. Recovery took 3-4 years.

2013 — 2017

📈 The Great Small Cap Bull Run

Along with the category, the fund delivered strong returns. AUM grew significantly. Investor interest peaked around 2017.

2018 — 2020

⚡ Extended Bear Phase

NBFC crisis (2018), IL&FS collapse, and then COVID (2020) created a 2+ year nightmare for small cap investors. ABSL Small Cap underperformed during this period.

2020

🔄 Management Change

Fund management transition — Vishal Gajwani took over, bringing a fresh approach to portfolio construction.

2021 — 2022

📈 Recovery With New Manager

Post-COVID recovery was strong. The new manager rebuilt the portfolio with updated conviction bets.

2024

📊 17 Years of Market Cycles

Across 17+ years, the fund has seen it all — financial crises, SEBI recategorisation, COVID, and the 2023-24 small cap rally.

What They Don't Tell You

The Dark Chapters

Every fund has painful periods. Here's an honest look at when Aditya Birla SL Small Cap Fund struggled — because understanding this is crucial before investing.

2008 — 2011 · 3+ Years

Born Before a Crisis, Scarred for Years

ABSL Small Cap Fund launched just one year before the 2008 global financial crisis. Small caps lost 60-70% and took years to recover. The fund's early investors endured multiple years of losses — a harsh introduction that many could not stomach.

Recovery took 3-4 years post 2008 crash

2018 — 2020 · Extended Underperformance

Underperformed Peers During Key Period

During the challenging 2018-2020 period, ABSL Small Cap underperformed several peers in the category. This led to investor disappointment and redemptions. The fund lost ground to newer, nimbler competitors during this phase.

Peer underperformance during key 2-year window

Expense Ratio of 0.88%

Highest Among Comparable Funds

At 0.88%, ABSL Small Cap's expense ratio is significantly above competitors — Tata charges 0.28%, Bandhan 0.42%, Invesco 0.46%. Over a 15-year period, this ~0.6% annual cost difference compounds into a very significant return drag. Investors must decide if the ABSL brand and research justify the premium.

Cost gap vs peers: ~0.5-0.6% annually

⚠️ Educational Disclaimer: The dark chapters above are presented for educational awareness only. Past difficulties do not predict future performance. CRNIndia.com is NOT a SEBI/AMFI registered advisor. Please consult a qualified financial advisor before investing.

Performance

Returns vs Benchmark

1 Month

—

Nifty SC: —

3 Month

—

Nifty SC: —

6 Month

—

Nifty SC: —

1 Year

—

Nifty SC: —

3 Year CAGR

—

Nifty SC: —

5 Year CAGR

—

Nifty SC: —

10 Year CAGR

—

Nifty SC: —

Since Inception

—

Sep 2009

Price History

NAV History

Consistency Analysis

Rolling Returns ℹ️ What is this?

Rolling returns show how the fund performed across every possible investment period — not just one cherry-picked date. This reveals true consistency. Learn more →

1Y Rolling (Avg)

—

% of times positive: —

3Y Rolling (Avg)

—

% of times positive: —

5Y Rolling (Avg)

—

% of times positive: —

1-Year Rolling Returns Each point = 1yr return from that date

Risk Analysis

Maximum Drawdown ℹ️ What is this?

Drawdown shows the biggest fall from peak NAV. This is what investors actually experience during market crashes. Learn more →

Max Drawdown Ever

—

Recovery time: —

2020 Covid Crash

-40.2%

Recovery: 14 months

2018 IL&FS Crisis

-28.6%

Recovery: 24 months

Current from Peak

—

Peak NAV: —

Drawdown Chart % fall from rolling peak NAV

Valuation Signal

NAV vs 200-Day Moving Average

When NAV is above 200 DMA, the fund is in an uptrend. When below, it signals caution. Many investors use this as a simple entry/exit signal.

Current NAV

—

200 DMA

—

NAV vs DMA

—

Loading signal...

NAV vs 200 DMA

Risk Metrics

Risk Ratios

Alpha (3Y)

—

Excess return over benchmark. Higher is better.

Beta (3Y)

—

Volatility vs market. >1 means more volatile.

Sharpe Ratio

—

Return per unit of risk. >1 is considered good.

Sortino Ratio

—

Like Sharpe but only penalises downside risk.

Std Deviation

—

How much returns fluctuate. Lower = more stable.

R-Squared

—

How closely it tracks the benchmark index.

Benchmark Comparison

Fund vs Nifty Smallcap 250

₹1 Lakh invested — Growth comparison

Help Us Improve

Your Feedback

Found an error in the data? Have a suggestion? We read every response and update the page accordingly.

How helpful was this page?

★ ★ ★ ★ ★

Type of Feedback

Your Name

Email (optional)

Your Message *