The Nippon India Small Cap Fund is an open‑ended equity scheme focusing predominantly on small‑cap stocks along with some mid‑cap & large‑cap exposure. As of mid‑2025 its AUM is ~₹66,000 crore and equity allocation ~95%, with ~45% in small‑cap stocks, ~12% mid‑cap, ~8% large‑cap. The scheme is classified under “Equity – Small Cap” where 3‑year annualised returns are around ~23%.