How did Kotak Small Cap Fund manage to offer 120% returns in 1 year? Synopsis "The NSE Small Cap 100 has been one of the best performing index in the last one year with returns of 107%, outperforming broader indices as well as mid and large caps." Small cap funds are offering record-breaking returns these days and naturally a lot of investors want to join the party. Among the toppers in the small cap category is Kotak Small Cap Fund. With a CAGR of 120% in one year, the fund is enjoying its spot under the sun. Shivani Bazaz of ETMutualFunds.com spoke to Pankaj Tibrewal, Senior EVP and Fund Manager- equity, Kotak Mutual fund, to understand how investors should play the small cap segment.