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Their returns have varied across different time-periods due to changes in market dynamics and other reasons

Smallcap shares: The prevailing market seems to be characterised by a more positive sentiment, with a greater focus on the upside potential rather than downside risks. Valuations may appear expensive than historical average, Jain said.

Despite huge inflows, smallcap fund managers say that valuations haven’t yet peaked. But many funds have chosen to shut their doors to hot money

Retail investors now own a bigger slice of small-cap companies than a couple of years earlier, attributable to their growing conviction in mutual fund (MF) schemes focused on this space. Data from Capitaline shows MFs' average holding in the National Stock Exchange Nifty Smallcap 250 rising to 8.67 per cent, from 7.67 per cent in the past two financial years, with the number of companies with over 20 per cent MF holdings, rising from 15 to 24. At the end of May, the top five small-cap firms with the highest MF holdings were Carborundum Universal, Blue Star, Cyient, Gujarat State Petronet, and ...

Have midcaps and smallcaps turned too expensive? SECTIONS Last Updated: May 24, 2021, 04:25 PM IST Share ET CONTRIBUTORS Related The current valuation in the broader market is looking expensive in pockets but a lot of sectors are still available at a reasonable valuation, with good ROEs and a decent growth potential, says Resham Jain of DSP Mutual Fund. Edited excerpts from an interview: How are the valuations looking like in midcap space? The last one year has been a significant one for mid-and smallcaps. Look at the way they bounced back. The current valuations are looking expensive in pock...