Which fund houses benefited more from microcap rally?

While fund managers typically limit themselves to the top 500 companies for liquidity reasons, they occasionally go beyond this. ACEMF data shows many mutual funds with small asset bases are allocated higher than the top 500 stocks. Experts believe that small-cap fund houses with large allocations to small-cap stocks have benefited from the small and microcap rally seen in the past few years. They have an edge over larger size fund houses as the former assign higher weightage to these stocks in their respective portfolio schemes. They benefited even more when the stock rallied. But this fund house will manage the risk of illiquidity? Only time will tell.