Carnelian Mutual Fund schemes

The sponsor, the company that set up the fund as a trust on 19 Dec 2025, is Carnelian Asset Management & Advisors Private Limited, an investment firm founded in 2019 by Vikas Khemani, Manoj Bahety and Swati Khemani that also runs portfolio management services and alternative investment funds. Carnelian Trustee Company Private Limited oversees the fund for its investors. The asset management company (AMC), Carnelian Investment Managers Private Limited, was incorporated on 11 Nov 2025. The mutual fund holds SEBI registration number MF/094/26/20.

Because the fund house is new, its funds have little or no history. Where a fund has not completed one, three or five years, the page shows a dash in that return column instead of a figure, and the house's assets managed stay blank until a full quarter's average is available.

Carnelian Liquid Fund was the first fund, with its first NAV dated 19 Oct 2026. A liquid fund is a debt fund that holds short-term instruments maturing within 91 days. Its NAV, the price of one unit, is shown on the page.

Carnelian Small Cap Fund was offered in a new fund offer, the period in which a scheme is first sold to investors, from 16 Oct 2026 to 30 Oct 2026, with a minimum investment of ₹500. SEBI requires a small cap fund to invest at least 65% of its assets in small cap stocks. The scheme documents state a ₹5,000 crore cap on assets, after which fresh subscriptions other than SIPs are suspended.

Returns are for the plan each fund's page leads with, Direct where one exists. Three-year and five-year figures are annualised, meaning compounded per year. House assets managed are the average over the quarter, added across its funds, with money held in its own funds of funds counted once.

A table of recently closed offers shows each fund's first NAV, its latest NAV and the change between them. The page also reports investor complaints received, resolved and still open at month end, as the fund house reports them.