We are excited to share that we have improved the current market cap distribution and subsequent smallcase categorisation implementation, to make it more comprehensive.


The details of the new implementation are covered below:


Holdings Distribution

Currently, we show a market cap distribution for all smallcases. We are improving  the current logic to provide a comprehensive holdings distribution. Going forward, all smallcase constituents will be categorised as one of the following:


  • Large Cap

  • Mid Cap

  • Small Cap

  • Gold

  • Silver

  • Commodity

  • Debt

  • Multicap ETFs

  • REITs/InvITS



An example of the new holdings distribution implementation



smallcase Categorisation

Currently, we categorise all smallcases into one of the following categories:


  • Large Cap
  • Mid Cap
  • Small Cap
  • Large & Mid Cap
  • Mid & Small Cap
  • Multicap


In line with the holdings distribution implementation, we are improving the current categorisation logic as well. The new logic for determination of smallcase category is as follows:


  • If the sum of weights of gold, silver, commodity, debt or REIT/InvIT constituents is greater than 50%, then the smallcase is categorised as “Non-Equity”

  • If the sum of weights of large cap constituents is greater than 50%, then the smallcase is categorised as “Large Cap”

  • If the sum of weights of mid cap constituents is greater than 50%, then the smallcase is categorised as “Mid Cap”

  • If the sum of weights of small cap constituents is greater than 50%, then the smallcase is categorised as “Small Cap”

  • If the sum of weights of large cap constituents is greater than 30%, sum of weights of mid cap constituents is greater than 30%, and combined sum of weights of large cap and mid cap constituents is greater than 80%, then the smallcase is categorised as “Large & Mid Cap”

  • If the sum of weights of small cap constituents is greater than 30%, sum of weights of mid cap constituents is greater than 30%, and combined sum of weights of small cap and mid cap constituents are greater than 80%, then smallcase is categorised as “Mid & small cap” 

  • If none of the above conditions are met, then smallcase is categorised as Multicap 


For smallcases where manager has not prescribed any weights, equal weights are assumed for calculations