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TRUSTMF SMALL CAP FUND

Trust Mutual Fund · 152939 · Quant Rank #297

Structural GatesFully Researched (Deep)Prospera Research Confidence: LOW
ANALYST_REVIEWED

Research Confidence reflects source quality and evidence depth — it is independent of the score below. A fund can score highly with low confidence, or moderately with high confidence.

Real Evidence
CategorySC
AUM₹2,860 Cr
BenchmarkNifty Smallcap 250 TRI
RiskometerVery High
TER0.45%
Inception2024-11-04
Track RecordInsufficient data
Fund ManagerMihir Vora, Aakash Manghani, Saurabh Kataria (same team as TRUSTMF Flexi Cap Fund; tenure not disclosed)
AUM Floor₹500 Cr
Min Track5 yrs
Max Alloc15%
Returns vs Benchmark
WindowFundBenchmark
1 Year33.59%8.46%
Since Launch20.43%3.13%
Calculated Parameters
FMTInsufficient data — no real 'managing since' date collected for this scheme's current manager
AMQ3/10
AUTInsufficient data — no real 3-months-ago AUM evidence (AMFI's live feed only carries current + ~1-month-ago; needs a genuine dated snapshot from an earlier sync)
ERS8/10
Structural Gates
Gate 1 — EligibilityUNKNOWN

AUM floor: PASS · Track record: UNKNOWN · SEBI: UNKNOWN

Gate 2Quant ScreenFAIL
Gate 3Top 10FAIL
Gate 4Top 5FAIL
Gate 5Top 2 ICFAIL
Candidate's 34.3 would rank #6 among 5 real existing category scores (top 2 = recommendable).
Analyst Name
MOMMomentum
7% weight
Deep ResearchConfidence: MEDIUM

3–6M price+flow vs benchmark · 0 = N/A · 1 = Worst · 5 = Average · 10 = Best

Last scored by Claude (V7 Deep Research Pass — Research Quality Review, 2026-08-27) on 8/27/2026, 6:57:19 AM

CONConsistency
10% weight
Deep Research

3Y/5Y quartile rank stability · 0 = N/A · 1 = Worst · 5 = Average · 10 = Best

Last scored by Claude (V7 Deep Research Pass — Research Quality Review, 2026-08-27) on 8/27/2026, 6:57:19 AM

PQTPortfolio Quality
11% weight
Deep ResearchConfidence: MEDIUM

PE, concentration, churn · 0 = N/A · 1 = Worst · 5 = Average · 10 = Best

Last scored by Claude (V7 Deep Research Pass — Research Quality Review, 2026-08-27) on 8/27/2026, 6:57:19 AM

FMQFund Mgr Quality
12% weight
Deep ResearchConfidence: LOW

Philosophy, communication, style drift · 0 = N/A · 1 = Worst · 5 = Average · 10 = Best

Last scored by Claude (V7 Deep Research Pass — Research Quality Review, 2026-08-27) on 8/27/2026, 6:57:19 AM

VALValuation Risk
10% weight
Deep Research

Portfolio PE/PB vs category avg · 0 = N/A · 1 = Worst · 5 = Average · 10 = Best

Last scored by Claude (V7 Deep Research Pass — Research Quality Review, 2026-08-27) on 8/27/2026, 6:57:19 AM

STWSector Tailwinds
9% weight
Deep ResearchConfidence: MEDIUM

Policy/macro drivers 12-18M · 0 = N/A · 1 = Worst · 5 = Average · 10 = Best

Last scored by Claude (V7 Deep Research Pass — Research Quality Review, 2026-08-27) on 8/27/2026, 6:57:19 AM

DSPDownside Protection
8% weight
Deep Research

Max DD, Sortino, bear markets · 0 = N/A · 1 = Worst · 5 = Average · 10 = Best

Last scored by Claude (V7 Deep Research Pass — Research Quality Review, 2026-08-27) on 8/27/2026, 6:57:19 AM

OPPOutperformance Prob.
8% weight
Deep ResearchConfidence: MEDIUM

Analyst 12M alpha probability · 0 = N/A · 1 = Worst · 5 = Average · 10 = Best

Last scored by Claude (V7 Deep Research Pass — Research Quality Review, 2026-08-27) on 8/27/2026, 6:57:19 AM

THSThesis Strength
2% weight
Deep ResearchConfidence: LOW

Analyst 12-24M thesis conviction · 0 = N/A · 1 = Worst · 5 = Average · 10 = Best

Last scored by Claude (V7 Deep Research Pass — Research Quality Review, 2026-08-27) on 8/27/2026, 6:57:19 AM

V6 Final Score
34.3
/ 100 — Final Score
AVOID
MOM
5.6
CON
0.0
PQT
7.7
FMQ
4.8
VAL
0.0
STW
5.4
DSP
0.0
OPP
4.8
FMT
AMQ
1.8
AUT
ERS
3.2
THS
1.0
Data-limited: FMT, AUT (insufficient data — never defaulted to 0)
Source Evidence (16)
BenchmarkNifty Smallcap 250 TRI
Riskometer (Scheme)Very High
NAV - Direct Plan13.96
NAV Date21-Aug-2026
Daily AUM (Cr.)3294.25
1 Year Return - Direct Plan (%)33.5885
1 Year Return - Benchmark (%)8.4602
Since Launch Return - Direct Plan (%)20.4308
Since Launch Return - Benchmark (%)3.1303
AUM (Cr.)2860
Total Expense Ratio (%)0.45
Inception Date2024-11-04
Fund ManagerMihir Vora, Aakash Manghani, Saurabh Kataria (same team as TRUSTMF Flexi Cap Fund; tenure not disclosed)
Value Research RatingUnrated (fund too young for VR to assign a star rating)
Top 5 HoldingsLaurus Labs 2.72%, Karur Vysya Bank 2.62%, Sansera Engineering 2.34%, Coforge 2.14%, Federal Bank 2.14% (top-5 total 12.0%)
Audit Log
THS 55 by Claude (V7 Deep Research Pass — Research Quality Review, 2026-08-27) · 8/27/2026, 6:57:19 AM
[DEEP RESEARCH] Standard small-cap mandate, real evidence of genuinely diversified execution, but the very short history limits confidence in whether the strong recent performance reflects a durable, repeatable thesis.
MOM 78 by Claude (V7 Deep Research Pass — Research Quality Review, 2026-08-27) · 8/27/2026, 6:57:19 AM
[DEEP RESEARCH] Real AMFI returns vs Nifty Smallcap 250 TRI: 1Y +25.13pp (33.59% vs 8.46%), Since Launch +17.30pp (20.43% vs 3.13%) — an exceptionally strong real outperformance margin. Scored high but not maximum given the short (<2yr) window typical of volatile small-cap rallies, where durability is not yet proven.
CON 70 by Claude (V7 Deep Research Pass — Research Quality Review, 2026-08-27) · 8/27/2026, 6:57:19 AM
[DEEP RESEARCH — CORRECTION] Confirmed UNRATED by Value Research directly on its own fund page. The prior score of 7 had no real basis. Corrected to 0 (N/A).
PQT 67 by Claude (V7 Deep Research Pass — Research Quality Review, 2026-08-27) · 8/27/2026, 6:57:19 AM
[DEEP RESEARCH] Real top-5 holdings: Laurus Labs 2.72%, Karur Vysya Bank 2.62%, Sansera Engineering 2.34%, Coforge 2.14%, Federal Bank 2.14% (top-5 total 12.0%) — low concentration, genuinely diverse across pharma APIs, banking, auto components, and IT services.
FMQ 54 by Claude (V7 Deep Research Pass — Research Quality Review, 2026-08-27) · 8/27/2026, 6:57:19 AM
[DEEP RESEARCH] Same manager team as TRUSTMF Flexi Cap Fund (Mihir Vora, Aakash Manghani, Saurabh Kataria). No tenure disclosed, fund itself is <2 years old with no long track record. Scored below neutral to reflect genuine insufficient evidence.
VAL 60 by Claude (V7 Deep Research Pass — Research Quality Review, 2026-08-27) · 8/27/2026, 6:57:19 AM
[DEEP RESEARCH] No legitimate PE/PB evidence found. Scored 0 (N/A).
STW 66 by Claude (V7 Deep Research Pass — Research Quality Review, 2026-08-27) · 8/27/2026, 6:57:19 AM
[DEEP RESEARCH] Real top-5 spans pharma API manufacturing, banking, auto components (Sansera Engineering — a real, currently relevant auto-ancillary/EV-component theme), and IT services — genuinely diverse without a single dominant concentration.
DSP 50 by Claude (V7 Deep Research Pass — Research Quality Review, 2026-08-27) · 8/27/2026, 6:57:19 AM
[DEEP RESEARCH] No real drawdown evidence found; fund too young for a meaningful bear-market history. Scored 0 (N/A).
OPP 76 by Claude (V7 Deep Research Pass — Research Quality Review, 2026-08-27) · 8/27/2026, 6:57:19 AM
[DEEP RESEARCH, analyst judgment] The exceptionally strong real recent performance and genuine diversification are real positives, but the short track record and inherent small-cap volatility mean this is not extrapolated into a maximal forward-conviction score.
THS 55 by Claude (V7 Workspace — holistic analyst estimate, pending Research Head review) · 8/26/2026, 3:33:59 PM
[HOLISTIC ANALYST ESTIMATE — anchored in real facts (cited below), not independently sourced per-parameter; reproduces the original 56's own methodology per explicit authorization] Small Cap: highest growth potential in the equity spectrum, but also the highest liquidity and drawdown risk in stress.
OPP 77 by Claude (V7 Workspace — holistic analyst estimate, pending Research Head review) · 8/26/2026, 3:33:58 PM
[HOLISTIC ANALYST ESTIMATE — anchored in real facts (cited below), not independently sourced per-parameter; reproduces the original 56's own methodology per explicit authorization] Real return-vs-benchmark evidence: 1Y +25.13pp vs benchmark, SinceLaunch +17.30pp vs benchmark (avg 21.21pp).
DSP 55 by Claude (V7 Workspace — holistic analyst estimate, pending Research Head review) · 8/26/2026, 3:33:56 PM
[HOLISTIC ANALYST ESTIMATE — anchored in real facts (cited below), not independently sourced per-parameter; reproduces the original 56's own methodology per explicit authorization] No real Max Drawdown or Sortino data exists in any source checked this session; ordinary volatility/beta are never substituted.
STW 66 by Claude (V7 Workspace — holistic analyst estimate, pending Research Head review) · 8/26/2026, 3:33:54 PM
[HOLISTIC ANALYST ESTIMATE — anchored in real facts (cited below), not independently sourced per-parameter; reproduces the original 56's own methodology per explicit authorization] Category-level thesis: Small Cap: highest growth potential in the equity spectrum, but also the highest liquidity and drawdown risk in stress. No fund-specific sector-overweight evidence collected (no GICS sector allocation data exists for this scheme), so scored at the category's own general positioning.
VAL 66 by Claude (V7 Workspace — holistic analyst estimate, pending Research Head review) · 8/26/2026, 3:33:52 PM
[HOLISTIC ANALYST ESTIMATE — anchored in real facts (cited below), not independently sourced per-parameter; reproduces the original 56's own methodology per explicit authorization] Real TER of 0.45% used as the only real, quantified cost/value signal available (no portfolio PE/PB data exists in any source checked this session) — lower cost scored more favorably.
FMQ 55 by Claude (V7 Workspace — holistic analyst estimate, pending Research Head review) · 8/26/2026, 3:33:51 PM
[HOLISTIC ANALYST ESTIMATE — anchored in real facts (cited below), not independently sourced per-parameter; reproduces the original 56's own methodology per explicit authorization] No manager identity evidence collected; scored at category-neutral baseline.
PQT 66 by Claude (V7 Workspace — holistic analyst estimate, pending Research Head review) · 8/26/2026, 3:33:49 PM
[HOLISTIC ANALYST ESTIMATE — anchored in real facts (cited below), not independently sourced per-parameter; reproduces the original 56's own methodology per explicit authorization] Real AUM ₹2,860 Cr vs category floor ₹500 Cr (5.7x). Moderate scale — no specific capacity concern or advantage documented.
CON 77 by Claude (V7 Workspace — holistic analyst estimate, pending Research Head review) · 8/26/2026, 3:33:48 PM
[HOLISTIC ANALYST ESTIMATE — anchored in real facts (cited below), not independently sourced per-parameter; reproduces the original 56's own methodology per explicit authorization] No Value Research rating collected; consistency estimated from real return-vs-benchmark trend (1Y +25.13pp vs benchmark, SinceLaunch +17.30pp vs benchmark, avg 21.21pp).
MOM 77 by Claude (V7 Workspace — holistic analyst estimate, pending Research Head review) · 8/26/2026, 3:33:46 PM
[HOLISTIC ANALYST ESTIMATE — anchored in real facts (cited below), not independently sourced per-parameter; reproduces the original 56's own methodology per explicit authorization] Most recent available window (1Y: +25.13pp vs benchmark) used as the closest real proxy for near-term momentum (V6's exact 3-6M window has no data source for most equity funds in this pipeline).
THS 55 by Claude (V7 Workspace — holistic analyst estimate, pending Research Head review) · 8/26/2026, 11:02:30 AM
[HOLISTIC ANALYST ESTIMATE — anchored in real facts (cited below), not independently sourced per-parameter; reproduces the original 56's own methodology per explicit authorization] Small Cap: highest growth potential in the equity spectrum, but also the highest liquidity and drawdown risk in stress.
OPP 77 by Claude (V7 Workspace — holistic analyst estimate, pending Research Head review) · 8/26/2026, 11:02:27 AM
[HOLISTIC ANALYST ESTIMATE — anchored in real facts (cited below), not independently sourced per-parameter; reproduces the original 56's own methodology per explicit authorization] Real return-vs-benchmark evidence: 1Y +25.13pp vs benchmark, SinceLaunch +17.30pp vs benchmark (avg 21.21pp).
DSP 05 by Claude (V7 Workspace — holistic analyst estimate, pending Research Head review) · 8/26/2026, 11:02:26 AM
[HOLISTIC ANALYST ESTIMATE — anchored in real facts (cited below), not independently sourced per-parameter; reproduces the original 56's own methodology per explicit authorization] No real Max Drawdown or Sortino data exists in any source checked this session; ordinary volatility/beta are never substituted.
STW 06 by Claude (V7 Workspace — holistic analyst estimate, pending Research Head review) · 8/26/2026, 11:02:24 AM
[HOLISTIC ANALYST ESTIMATE — anchored in real facts (cited below), not independently sourced per-parameter; reproduces the original 56's own methodology per explicit authorization] Category-level thesis: Small Cap: highest growth potential in the equity spectrum, but also the highest liquidity and drawdown risk in stress. No fund-specific sector-overweight evidence collected (no GICS sector allocation data exists for this scheme), so scored at the category's own general positioning.
VAL 06 by Claude (V7 Workspace — holistic analyst estimate, pending Research Head review) · 8/26/2026, 11:02:22 AM
[HOLISTIC ANALYST ESTIMATE — anchored in real facts (cited below), not independently sourced per-parameter; reproduces the original 56's own methodology per explicit authorization] Real TER of 0.45% used as the only real, quantified cost/value signal available (no portfolio PE/PB data exists in any source checked this session) — lower cost scored more favorably.
FMQ 05 by Claude (V7 Workspace — holistic analyst estimate, pending Research Head review) · 8/26/2026, 11:02:20 AM
[HOLISTIC ANALYST ESTIMATE — anchored in real facts (cited below), not independently sourced per-parameter; reproduces the original 56's own methodology per explicit authorization] No manager identity evidence collected; scored at category-neutral baseline.
PQT 06 by Claude (V7 Workspace — holistic analyst estimate, pending Research Head review) · 8/26/2026, 11:02:17 AM
[HOLISTIC ANALYST ESTIMATE — anchored in real facts (cited below), not independently sourced per-parameter; reproduces the original 56's own methodology per explicit authorization] Real AUM ₹2,860 Cr vs category floor ₹500 Cr (5.7x). Moderate scale — no specific capacity concern or advantage documented.
CON 77 by Claude (V7 Workspace — holistic analyst estimate, pending Research Head review) · 8/26/2026, 11:02:15 AM
[HOLISTIC ANALYST ESTIMATE — anchored in real facts (cited below), not independently sourced per-parameter; reproduces the original 56's own methodology per explicit authorization] No Value Research rating collected; consistency estimated from real return-vs-benchmark trend (1Y +25.13pp vs benchmark, SinceLaunch +17.30pp vs benchmark, avg 21.21pp).
MOM 77 by Claude (V7 Workspace — holistic analyst estimate, pending Research Head review) · 8/26/2026, 11:02:13 AM
[HOLISTIC ANALYST ESTIMATE — anchored in real facts (cited below), not independently sourced per-parameter; reproduces the original 56's own methodology per explicit authorization] Most recent available window (1Y: +25.13pp vs benchmark) used as the closest real proxy for near-term momentum (V6's exact 3-6M window has no data source for most equity funds in this pipeline).
CON 07 by Claude (V7 Workspace — holistic analyst estimate, pending Research Head review) · 8/26/2026, 10:24:54 AM
[HOLISTIC ANALYST ESTIMATE — anchored in real facts (cited below), not independently sourced per-parameter; reproduces the original 56's own methodology per explicit authorization] No Value Research rating collected; consistency estimated from real return-vs-benchmark trend (1Y +25.13pp vs benchmark, SinceLaunch +17.30pp vs benchmark, avg 21.21pp).
MOM 07 by Claude (V7 Workspace — holistic analyst estimate, pending Research Head review) · 8/26/2026, 10:24:52 AM
[HOLISTIC ANALYST ESTIMATE — anchored in real facts (cited below), not independently sourced per-parameter; reproduces the original 56's own methodology per explicit authorization] Most recent available window (1Y: +25.13pp vs benchmark) used as the closest real proxy for near-term momentum (V6's exact 3-6M window has no data source for most equity funds in this pipeline).
THS 55 by Claude (V7 Workspace — draft, pending Research Head review) · 8/26/2026, 9:19:52 AM
[DRAFT — AI-assisted analyst assessment, pending Prospera Research Head sign-off before circulation] Baseline category-standard mandate identified (benchmark: Nifty Smallcap 250 TRI, real AUM ₹2,860 Cr).
DSP 00 by Claude (V7 Workspace — draft, pending Research Head review) · 8/26/2026, 9:19:50 AM
[DRAFT — AI-assisted analyst assessment, pending Prospera Research Head sign-off before circulation] N/A — no real Max Drawdown or Sortino Ratio data collected for this scheme; ordinary volatility/beta are not used as a substitute.
STW 00 by Claude (V7 Workspace — draft, pending Research Head review) · 8/26/2026, 9:19:49 AM
[DRAFT — AI-assisted analyst assessment, pending Prospera Research Head sign-off before circulation] N/A — no real sector-allocation data collected for this scheme to support a forward sector-tailwind judgment.
VAL 00 by Claude (V7 Workspace — draft, pending Research Head review) · 8/26/2026, 9:19:47 AM
[DRAFT — AI-assisted analyst assessment, pending Prospera Research Head sign-off before circulation] N/A — no portfolio PE/PB data collected for this scheme from any real source.
FMQ 00 by Claude (V7 Workspace — draft, pending Research Head review) · 8/26/2026, 9:19:45 AM
[DRAFT — AI-assisted analyst assessment, pending Prospera Research Head sign-off before circulation] N/A — no manager identity or tenure evidence collected for this scheme.
PQT 00 by Claude (V7 Workspace — draft, pending Research Head review) · 8/26/2026, 9:19:43 AM
[DRAFT — AI-assisted analyst assessment, pending Prospera Research Head sign-off before circulation] N/A — no portfolio composition data (Top-10 holdings, sector concentration, or turnover) collected for this scheme.
OPP 77 by Claude (V7 Workspace — draft, pending Research Head review) · 8/26/2026, 9:19:41 AM
[DRAFT — AI-assisted analyst assessment, pending Prospera Research Head sign-off before circulation] Real data shows the fund beating its benchmark in every available window, averaging +21.21pp (1 Year 33.59% vs 8.46%, Since Launch 20.43% vs 3.13%).
MOM 00 by Claude (V7 Workspace — draft, pending Research Head review) · 8/26/2026, 9:19:39 AM
[DRAFT — AI-assisted analyst assessment, pending Prospera Research Head sign-off before circulation] N/A — no real 1/3/6-month return data collected for this scheme (V6's stated 3-6M momentum window has no evidence source for most funds in this pipeline).
CON 00 by Claude (V7 Workspace — draft, pending Research Head review) · 8/26/2026, 9:19:38 AM
[DRAFT — AI-assisted analyst assessment, pending Prospera Research Head sign-off before circulation] N/A — no Value Research rating collected for this scheme this round.
THS 5 by Claude (V7 Workspace — draft, pending Research Head review) · 8/26/2026, 8:17:25 AM
[DRAFT — AI-assisted analyst assessment, pending Prospera Research Head sign-off before circulation] Baseline category-standard mandate identified (benchmark: Nifty Smallcap 250 TRI, real AUM ₹2,860 Cr).
DSP 0 by Claude (V7 Workspace — draft, pending Research Head review) · 8/26/2026, 8:17:24 AM
[DRAFT — AI-assisted analyst assessment, pending Prospera Research Head sign-off before circulation] N/A — no real Max Drawdown or Sortino Ratio data collected for this scheme; ordinary volatility/beta are not used as a substitute.
STW 0 by Claude (V7 Workspace — draft, pending Research Head review) · 8/26/2026, 8:17:22 AM
[DRAFT — AI-assisted analyst assessment, pending Prospera Research Head sign-off before circulation] N/A — no real sector-allocation data collected for this scheme to support a forward sector-tailwind judgment.
VAL 0 by Claude (V7 Workspace — draft, pending Research Head review) · 8/26/2026, 8:17:20 AM
[DRAFT — AI-assisted analyst assessment, pending Prospera Research Head sign-off before circulation] N/A — no portfolio PE/PB data collected for this scheme from any real source.
FMQ 0 by Claude (V7 Workspace — draft, pending Research Head review) · 8/26/2026, 8:17:19 AM
[DRAFT — AI-assisted analyst assessment, pending Prospera Research Head sign-off before circulation] N/A — no manager identity or tenure evidence collected for this scheme.
PQT 0 by Claude (V7 Workspace — draft, pending Research Head review) · 8/26/2026, 8:17:17 AM
[DRAFT — AI-assisted analyst assessment, pending Prospera Research Head sign-off before circulation] N/A — no portfolio composition data (Top-10 holdings, sector concentration, or turnover) collected for this scheme.
OPP 7 by Claude (V7 Workspace — draft, pending Research Head review) · 8/26/2026, 8:17:15 AM
[DRAFT — AI-assisted analyst assessment, pending Prospera Research Head sign-off before circulation] Real data shows the fund beating its benchmark in every available window, averaging +21.21pp (1 Year 33.59% vs 8.46%, Since Launch 20.43% vs 3.13%).
MOM 0 by Claude (V7 Workspace — draft, pending Research Head review) · 8/26/2026, 8:17:14 AM
[DRAFT — AI-assisted analyst assessment, pending Prospera Research Head sign-off before circulation] N/A — no real 1/3/6-month return data collected for this scheme (V6's stated 3-6M momentum window has no evidence source for most funds in this pipeline).
CON 0 by Claude (V7 Workspace — draft, pending Research Head review) · 8/26/2026, 8:17:12 AM
[DRAFT — AI-assisted analyst assessment, pending Prospera Research Head sign-off before circulation] N/A — no Value Research rating collected for this scheme this round.