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Top performing smallcases of March 2021 rose 9-14% each

smallcases have brought a lot of flavor to investing as they are created across various strategies, market segments, sectors and risk profiles.

April 19, 2021 / 04:03 PM IST

The month of March remained volatile as both domestic and global factors weighed on sentiment, but bulls managed to remain in control.

On the domestic front, positive GDP data, optimistic recovery from the manufacturing and services sector, US stimulus package and overall firm global cues among various other reasons have led investors to have a bullish stance.

The second week of March also ended in greens. It was quite a short trading week and investors were in good spirits as vaccine rollouts gained pace which led them to envision a strong global recovery.

Data also revealed that there was a retreat in global inflation levels. This and the passing of the $1.9 trillion US stimulus package to catalyst the pace of the economic recovery in full swing was quite a relief for investors.


Entering the third week of March, things didn’t look so great. The Indian stock markets ended in red. This happened due to many reasons.

Firstly, COVID-19 saw a rise again across different parts of the country. This was also followed by the tensions among investors that a possible second wave might occur bringing lockdowns into effect.

Secondly, bond yields in the US are on the rise, which would mean that investors take out capital from India and put it back in developed markets as expected returns in the west rise.

At the final week of March, the Indian stock markets ended the week in red as benchmark indices witnessed broad-based selling across multiple sectors. This was the effect of various factors. A proposal for a potential tax hike in the US has made investors nervous.

At home, rising Covid-19 cases have taken a toll on the economy as possibilities of lockdowns have increased. Investors are nervous about the adverse effects of a second wave which might disrupt the growth of an already weak economy.

Smallcases are model portfolios of stocks/ETFs based on a theme, idea or strategy. It is a modern investment instrument for investors to build long term diversified portfolios. Smallcases are created by SEBI-registered professionals. smallcases have brought a lot of flavor to investing as they are created across various strategies, market segments, sectors and risk profiles.

Here is a list of 10 best performing smallcases in March 2021 - what category they belong to, what strategy they follow and who they are managed by. These smallcases have outperformed Nifty which gave a little over 1 percent return in March.

Craving Alpha Index Advantage- v2 (Nifty 500): Return 13.92%| Minimum Investment Rs 1,29,026

This smallcase covers the top 500 stocks instead of top 100. The methodology is to invest in a strategy and not just a basket of stocks using a Multi-Factor-based model.

It is a high-volatility multi-cap strategy that is managed by Craving Alpha.

This smallcase utilises a Multi- Factor-Based Model and has a lower churn. Stocks are only churned when they no longer fit the model. The strategy do away with the Behavioural biases.

Craving Alpha Index Advantage- v2 (Nifty 500) smallcase by Craving Alpha

Q10: Return 10.91%| Initial Investment Rs 31,680

Q10 is a trend-following momentum-based quant system that comprises up to 10 stocks in the portfolio at any time. The focus is on higher liquidity stocks and greater churn with at least a monthly reset.

It is a high-volatility large-cap strategy that is managed by Intelsense.

Q10 (Beta) smallcase by Intelsense

Mi_MT_Allcap: Return 10.56%| Minimum Investment Rs 83,217

Mi_MT_Allcap is a non-discretionary momentum portfolio. This 20 stock portfolio follows the medium-term momentum trends among all listed NSE stocks above-market capitalization of Rs 1,000 cr.

It is a low-volatility multi-cap strategy that is managed by Weekend Investing.

The main aim of the strategy is gradual wealth generation by selectively following winning stocks. The historical performance of this portfolio has beaten the benchmarks by a wide margin.

The re-balance of this portfolio is done every week, and at times when there is no opportunity for capital deployment the strategy may sit in cash through the liquid ETFs like LIQUIDBEES.

Mi_MT_Allcap smallcase by Weekend Investing

Future Growth Stocks: Return 10.04%| Initial Investment Rs 6000

This smallcase comprises of fundamentally strong stocks chosen with a long term view. This smallcase stocks are chosen from different sectors having strong fundamentals

It is a high-volatility multi-cap strategy that is managed by Growth Stocks Today.

future growth stocks smallcase by SUMAN SHANDIL

Estee Long Alpha Lite (Gear 4): Return 9.64%| Initial Investment Rs 70,000

It is a directional strategy aimed to outperform the market, maintaining low volatility Systematic rule-based investing with no human subjectivity.

It is a high-volatility multi-cap strategy that is managed by Estee Advisors.

Estee Long Alpha LITE (Gear 4) smallcase by Estee

Calm Investor Momentum: Return 9.63%| Minimum Investment Rs 45,955

This smallcase is based on the principles explained in "Quantitative Momentum" by Jack Vogel and Wes Gray. This smallcase picks up to 20 stocks from the top 200 stocks by market cap, selected based on trailing return and quality of momentum

It is a low-volatility large & mid-cap strategy that is managed by The Calm Investor.

This smallcase reviews its portfolio monthly, and rebalances at least quarterly. It allocates itself to cash in the case of no strong opportunities.

Calm Investor Momentum smallcase by The Calm Investor

Capitalmind Momentum: Return 9.63%| Initial Investment Rs 45,955

This smallcase aims to capture the Momentum factor with up to 25 stocks selected based on their sharpe ratios, liquidity and fundamental sanity-checks.

It is a low-volatility mid-cap strategy that is managed by Capital Mind.

This smallcase is reviewed weekly and applicable changes are executed on Mondays (or the first trading day of the week)

This smallcase prefers stocks that trade 3 cr. plus per day looking for liquidity. It allocates itself to cash in the case of no strong opportunities.

Capitalmind Momentum smallcase by Capitalmind

Indian Healthcare Momentum: Return 7.39%| Initial Investment Rs 37,271

The strategy consists of a concentrated portfolio of top 10 stocks that score high on momentum factor based on the universe of Indian pharmaceutical, diagnostic, and hospital companies.

It is a high-volatility multi-cap strategy that is managed by Flameback Capital.

India Healthcare Momentum smallcase by Flameback Capital

Robocapital smaller companies: Return 7.05%| Initial Investment Rs 27,408

This smallcase invests in high quality and high growth small cap companies. This smallcase is a bouquet of growth stocks that provide high return opportunities with a portfolio composition with orientation to small cap stocks.

It is a medium-volatility small-cap strategy that is managed by Robo Capital.

It is a medium-volatility multi-cap strategy that is managed by Flameback Capital. These stocks have the potential to turn into mid-cap or large-cap stocks in the future, and any temporary slowdown in the economy gives opportunities to accumulate these stocks for the long term.

Robocapital - Smaller Companies smallcase by RoboCapital

Estee Long Alpha LITE (Gear 3): Return 6.89%| Initial Investment Rs 1,05,000

Long Alpha is a directional strategy that aims to consistently outperform the benchmark equity index while maintaining low volatility.

It is a medium-volatility multi-cap strategy that is managed by Estee Advisors.

It is a directional strategy following rule-based investing with efficient risk management. Here 67% allocation is made to equities and 33% to Debt ETFs. The strategy is suitable for low to moderate-risk investors.

Estee Long Alpha LITE (Gear 3) smallcase by Estee

(This is a partnered post)

Disclaimer: The views and investment tips expressed by experts on are their own and not those of the website or its management. advises users to check with certified experts before taking any investment decisions.

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first published: Apr 19, 2021 11:00 am
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