Motilal Oswal Mutual Fund has announced changes in the fund management responsibilities of its Motilal Oswal Small Cap Fund. According to reports from Motilal Oswal Mutual Fund, the fund's management structure has been reorganized with effect from August 17, 2026. The new management team includes Ankit Agarwal, Varun Sharma (Equity), Bhalchandra Shinde, Ajay Khandelwal (Equity) and Rakesh Shetty (Debt).
The fund was previously managed by Varun Sharma (Equity), Bhalchandra Shinde, Ajay Khandelwal (Equity) and Rakesh Shetty (Debt). As reported by Motilal Oswal Mutual Fund, all four fund managers held specific roles in the fund's management team. Ajay Khandelwal holds an MBA and Bachelor of Engineering, with previous experience at Canara Robeco Mutual Fund, BOI AXA Mutual Fund, and Infosys. Rakesh Shetty has a B.Com background and worked with companies engaged in Capital Market Business, focusing on equity and debt ETFs and customized indices.
The fund will now be managed by Ankit Agarwal, Varun Sharma (Equity), Bhalchandra Shinde, Ajay Khandelwal (Equity) and Rakesh Shetty (Debt). According to Motilal Oswal Mutual Fund, the new team maintains continuity with the previous equity and debt managers while adding Ankit Agarwal to the leadership structure. Ankit Agarwal brings extensive experience from UTI Mutual Fund, Centrum Capital Ltd, and international firms including Lehman Brothers and D. E. Shaw & Co.
The Motilal Oswal Small Cap Fund has delivered strong performance with 24.35% returns over the last 1-year period and 22.12% average annual returns since launch. As of August 17, 2026, the fund's Net Asset Value (NAV) stands at ₹16.96. The fund maintains a total expense ratio of 1.97% and has ₹7,605 crores in assets under management as of July 31, 2026. The fund has invested primarily in Capital Goods, Services, Healthcare, Financial, and Consumer Staples sectors, with the top 5 holdings including Rubicon Research Ltd., VA Tech Wabag Ltd., Karur Vysya Bank Ltd., CCL Products (India) Ltd., and Aditya Infotech Ltd.
