Active fund managers apply various parameters to identify stocks from the smallcap universe that could have the potential to generate better returns. Many such chosen stocks emerged as multibaggers and rewarded unitholders handsomely. Here are the smallcap stocks that have been identified by the mutual fund industry and added afresh in their portfolios in the last six months. Only actively managed equity funds and hybrid funds were considered for the study. Index funds and ETFs were excluded. Data as of August 31, 2022. Source: ACEMF. Patanjali Foods Sector: Consumer Non-durables MF investment value: Rs 453 crore Schemes that held the stock: Eleven equity schemes of Quant funds, Aditya Birla SL Pure Value, Aditya Birla SL Small Cap and Kotak Small Cap Fund. All took fresh position in March 2022 Pitti Engineering Sector: Industrial Capital Goods MF investment value: Rs 20 crore Schemes that held the stock: Five equity schemes from LIC MF added the stock in the last two months Rashtriya Chemicals and Fertilizers Sector: Fertilisers MF investment value: Rs 20 crore Schemes that held the stock: Three equity schemes from Quant MF added the stock afresh in the last month Gulshan Polyols Sector: Chemicals MF investment value: Rs 51 crore Schemes that held the stock: Quant Small Cap, Aditya Birla SL Pure Value and Aditya Birla SL Small Cap Fund added this stock in March 2022 HP Adhesives Sector: Specialty Chemicals MF investment value: Rs 4.8 crore. Schemes that held the stock: Quant Multi Asset and Quant Value Fund made fresh positions during the last month Gujarat Alkalies and Chemicals Sector: Chemicals MF investment value: Rs 10 crore Scheme that held the stock: Aditya Birla SL PSU Equity bought this stock in April 2022 Mirza International Sector: Consumer Durables MF investment value: Rs 143 crore Scheme that held the stock: HDFC Small Cap Fund took a fresh position in the stock in April 2022 Gujarat Ambuja Exports Sector: Consumer Non-durables MF investment value: Rs 4.3 crore Scheme that held the stock: DSP Value Fund added this stock in April 2022 Oriental Aromatics Sector: Chemicals MF investment value: Rs 13 crore Scheme that held the stock: PGIM India Small Cap made a fresh position in the stock in March Rossell India Sector: Consumer Non-durables MF investment value: Rs 13 crore Scheme that held the stock: Quant Active fund bought this stock in March Transtream India.com Sector: IT-enabled Services MF investment value: NA. Scheme that held the stock: Baroda BNP Paribas ELSS Fund added just 1,000 shares of the company in March 2022 Disclaimer: Moneycontrol.com advises users to check with certified experts before making any investment decisions.