“It’s been a year since we launched the Capitalmind Flexi Cap fund. We focused on building products for a wider audience spanning commodities, fixed income, and equity, and today, the Capitalmind Multi Asset, Arbitrage, and Liquid funds now offer something for most types of investors. Our approach to investing remains rooted to a strong basis in data, reducing volatility in tough times, and preparedness to respond when markets change,” said Deepak Shenoy, Founder of Capitalmind.
What funds does Capitalmind currently offer?
Capitalmind Mutual Fund currently has four schemes, each designed for a different portfolio requirement.
Capitalmind Flexi Cap Fund: This is an open-ended dynamic equity scheme that invests across large-cap, mid-cap and small-cap stocks. It is positioned for investors seeking long-term wealth creation.
Capitalmind Multi Asset Allocation Fund: This scheme invests across equity, debt, money-market instruments and commodities. It is designed for investors seeking long-term capital appreciation through a diversified portfolio.
Capitalmind Liquid Fund: The fund invests in debt and money-market instruments with maturities of up to 91 days. It is intended for investors with a short-term investment horizon seeking regular income.
Capitalmind Arbitrage Fund: This scheme invests in arbitrage opportunities in the cash and derivatives segments of the equity market and is positioned for investors seeking income over a short- to medium-term horizon.
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Capitalmind Flexi Cap Fund
Capitalmind Flexi Cap Fund had an AUM of ₹452 crore as of July 2026, with a NAV of ₹10.40. The fund held 32 stocks and was heavily invested in equities, which accounted for 98.8% of the portfolio. Within equity allocation, mid-caps formed the largest share at 40.6%, followed by small-caps at 33% and large-caps at 26.4%.
The fund delivered a 4.32% return over one month, compared with 3.73% for the Nifty 500 TRI. Its three-month return stood at 2.34%, while the six-month return was 1.99%. Over one year, the fund gained 4.84%, compared with 5.52% for its benchmark. Since inception in August 2025, it has delivered 5.05%, against 5.64% for the Nifty 500 TRI.
The portfolio’s top holdings included Federal Bank (4.22%), Cummins India (3.99%), Welspun Corp (3.91%), Bank of Maharashtra (3.87%) and Torrent Pharmaceuticals (3.79%).
The fund’s 2026 year-to-date return was 0.95%, compared with a -0.11% return for the benchmark. The fund had a -0.34% drawdown as of the report.
| Metric | Capitalmind Flexi Cap Fund |
|---|---|
| NAV | ₹10.40 |
| AUM | ₹452 crore |
| Stocks | 32 |
| 1-month return | 4.32% |
| 3-month return | 2.34% |
| 6-month return | 1.99% |
| 1-year return | 4.84% |
| YTD return | 0.95% |
| Equity allocation | 98.8% |
| Mid-cap allocation | 40.6% |
What is Capitalmind’s next fund strategy?
The AMC says its initial funds were built around factor-based investing and trend following. However, its planned mid-cap and small-cap offerings are likely to follow a different approach.
According to Capitalmind, these future equity funds are likely to be discretionary and fundamentally driven, marking an expansion in the investment methods used by the fund house. The AMC has stressed that it is not committed to a single investment style and plans to use different approaches depending on the opportunity and product.
Shenoy added: “We’ve built our first funds on factor-based investing and trend following. As we expand, our subsequent funds in the mid- and small-cap spaces are likely to be discretionary and fundamentally driven. We’re not wedded to one style of investing; wealth can be built in different ways, and we’ll choose the path that makes us build a long-term edge for you.”
The proposed mid-cap and small-cap funds are planned for later in the current financial year, subject to applicable internal and regulatory approvals.
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Why is Capitalmind expanding beyond its initial strategy?
Capitalmind says its broader objective is to build investment solutions across quantitative, fundamentally driven, arbitrage and asset-allocation strategies while maintaining common standards for research, transparency, risk management and execution.
The fund house describes its investment philosophy as “Don’t Predict. Respond.” It says portfolios should adapt as facts change, rather than being built around a single market forecast.
The AMC also plans to explore differentiated hybrid schemes, expand its fund-management team and strengthen access through distribution platforms and advisers.
What does this mean for investors?
For investors, the planned mid-cap and small-cap funds would add fundamentally driven equity options to Capitalmind’s existing lineup. However, these products are not yet part of the current four-scheme portfolio and will depend on the required approvals and final scheme documents.
Capitalmind’s first-year numbers show that the AMC has expanded rapidly from one scheme to four, while building an investor base of more than 13,000 and AUM of over ₹600 crore. Its next phase will therefore focus not only on adding schemes but also on broadening the investment approaches available to investors.
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Disclaimer: Business Today provides market and personal news for informational purposes only and should not be construed as investment advice. All mutual fund investments are subject to market risks. Readers are encouraged to consult with a qualified financial advisor before making any investment decisions.
