Smallcap funds have emerged as the top performers in the mutual fund industry, attracting significant inflows in FY24. Data reveals that 24 smallcap schemes have delivered impressive returns so far this financial year, with several stocks more than doubling investors’ wealth. Mahindra Manulife Smallcap Fund, Union Smallcap Fund, Nippon India Smallcap Fund, Aditya Birla Sun Life Smallcap Fund, and HDFC Smallcap Fund are among the leading performers. Despite concerns of overvaluation, experts believe the sustained inflows into smallcap funds indicate the deepening of the Indian capital market.