New Delhi, July 3 -- Small-cap mutual funds have staged a strong recovery over the past three months, aided by the rebound in the broader market.

According to Value Research data, the small-cap fund category generated an average return of 22.41% over the last three months, outperforming the Nifty Smallcap 250 TRI, which returned 20.73% during the same period.

Within the category, four schemes emerged as clear outperformers, each delivering returns of more than 30%. But while their recent performance has put them at the top of the charts, a comparison across longer time periods reveals notable differences in their track records.

JM Small Cap Fund, managed by Asit Bhandarkar, emerged as the best-performing small-cap scheme over the past ...