Capitalmind Financial Services has received in-principle approval from market regulator SEBI to launch a mutual fund. This milestone coincides with the company's 10th anniversary, the Bengaluru-based investment management company said in a statement. As a portfolio manager, Capitalmind currently manages over Rs 2,200 crore in assets under management (AUM) for more than 1,150 clients, boasting a strong annual client retention rate of 98%. Since its inception, the company has doubled its AUM every financial year, driven by robust portfolio performance and steady inflows. This growth has resulted in wealth creation exceeding Rs 1,000 crore for clients in less than seven years. Capitalmind ranks 25th largest PMS by AUM in discretionary equity strategies Capitalmind ranks as the 25th largest Portfolio Management Service (PMS) by AUM in discretionary equity strategies, according to data from the Association of Portfolio Managers of India (APMI). Two of its flagship investment approaches have demonstrated exceptional performance: Surge India, managed by Capitalmind's founder and CEO Deepak Shenoy, has delivered a post-fees CAGR of 29.14% over the past five years ending July 31, 2024; and Adaptive Momentum, managed by Anoop Vijaykumar, has achieved a post-fees CAGR of 31.78% during the same period. Also read: NPS: Are you 40? Here’s how much you need to invest now to secure Rs 1 lakh pension after retirement? Capitalmind began its journey as a blog when Deepak Shenoy started sharing insights on investing and personal finance. It expanded its offerings to include equity research, model portfolios, and a thriving investing community before eventually launching a PMS in 2017, and an AIF in 2024. Capitalmind clientele base Throughout its history, Capitalmind has served over 20,000 retail investors and 1,350 PMS clients, including hundreds of High Net Worth Individuals (HNIs) and Ultra High Net Worth Individuals (UHNIs). On the development, Shenoy said: "Receiving SEBI's in-principle approval for a mutual fund is both an honor and a privilege. We are grateful for this opportunity and remain committed to building long-term wealth while maintaining the highest standards of regulatory compliance. Our team has established a solid reputation for excellence in performance, service, communication, and research. We plan to leverage technology, partnerships, and distribution channels to capitalize on India's robust growth story. We look forward to establishing Capitalmind Asset Management Company to meet SEBI's final approval requirements."
