Mumbai, October 15, 2026: Carnelian Mutual Fund will launch the Carnelian Small Cap Fund, an open-ended equity scheme focused on small-cap stocks, with a New Fund Offer (NFO) opening on October 16 and closing on October 30, 2026. The fund will have a cap of ₹5,000 crore.
The scheme will adopt a research-driven investment strategy, targeting businesses with sustainable earnings growth, durable competitive advantages, and favourable risk-reward profiles. Carnelian said the fund will be guided by its investment philosophy of Clarity, Conviction and Compounding, and will use proprietary frameworks such as CLEAR and CONNECT to evaluate financial quality, corporate governance, management, and business fundamentals.
Research-led investment strategy
Vikas Khemani, Founder and Chairman of Carnelian Asset Management & Advisors, said the fund’s approach will emphasise fundamental research, forensic financial analysis, and ground-level validation to identify investment opportunities in the small-cap segment.
Fund offer details
The Carnelian Small Cap Fund NFO will be open for subscription from October 16 to October 30, 2026, with a total collection cap of ₹5,000 crore, according to the company.
Carnelian Asset Management & Advisors operates in the asset management sector and is based in India.
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