Capitalmind

We are a SEBI-registered PMS offering long-term wealth-building with effective investment strategies.

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[Capitalmind @capitalmind_in]

Capitalmind Wealth has run Adaptive Momentum, one of the first momentum strategies built for PMS clients in India, since 2019.

Seven-plus years in, the strategy has lived through very different market and economic regimes. Along the way, managing a quantitative portfolio through the real world (and not just a backtest) has given us invaluable lessons about how momentum actually works in Indian markets.

As we look back at those 7 years, we’re putting some of those learnings into a couple of pieces on factor investing: what momentum really is, why seemingly small choices in its construction matter, and why economic intuition should come before statistical evidence.

We start with the “factor zoo” and the animal we know best: Momentum.

Read here: https://t.co/WAjJ5M1DU1

Capitalmind Financial Services Private Limited | SEBI Registered Portfolio Manager: INP000005847

[Capitalmind Mutual Fund @CapitalmindMF]

FPIs have started buying Indian stocks again.

Over the last five fortnights, they have invested ₹63,941 crore in Indian Equities. It is the longest stretch of fortnightly buying we have seen in the last two years.

[Capitalmind @capitalmind_in]

Selling a decade-old portfolio to hand it to a manager means a brutal capital gains bill. So most investors do nothing, and their holdings just crumble.

Our Non-Discretionary PMS takes them in via an in-specie transfer, no taxable sale. You keep full control. https://t.co/9SFfxHqG9m

Capitalmind Financial Services Private Limited, SEBI Registered Portfolio Manager: INP000005847

[Capitalmind @capitalmind_in]

Capitalmind Financial Services Private Limited, SEBI Registered Portfolio Manager: INP000005847

Most investors run two portfolios: the one they delegate, and a "shadow portfolio" of direct stocks and legacy funds they manage alone.

Capitalmind Wealth is launching Non-Discretionary PMS (NDPMS) to fix it. You keep full control, we take the operational load. A 3-part series: https://t.co/eOdcgvNLPg

[Capitalmind Mutual Fund @CapitalmindMF]

"We are not married to any one investment style"

In this conversation with @moneycontrolcom , @deepakshenoy and @CalmInvestor walk through how Capitalmind Mutual Fund handled its first year of chaos — not by predicting any of it, but by building a process that just... responds.

Deepak also delves into why a great company still gets sold the moment the data turns: "My stock doesn't love me back."

Also in here: why the whole philosophy basically boils down to "in God we trust, everyone else must bring data," why high churn isn't automatically a bad word, and why sitting in cash is a position — not a cop-out.

Watch the full conversation → https://t.co/nXKHFNtjmF

Mutual fund investments are subject to market risks, read all scheme-related documents carefully.

[Capitalmind @capitalmind_in]

@deepakshenoy tells @iam_sago at Business Standard why now's a good time to invest
https://t.co/wkWHBsbnYF

[Capitalmind @capitalmind_in]

In its latest consultation paper, SEBI wants to let PMS firms buy foreign securities directly: stocks, ETFs, bonds, overseas funds, REITs. It is overdue and the right call. But permission is the easy part.

The catch that people forget is that in a PMS, securities sit in the client's own demat account, in their name. So how does a US share or ETF unit land in an Indian demat when foreign brokers don't do custody the way we mean it?

Foreign accounts run on joint holding, not nominees, so does every client now open a joint account abroad?

Who tracks the client's USD 250,000 LRS limit across holidays, fees, and investments?

And almost nobody's heard of the US estate tax on directly held US securities.

The regulation is the permission slip. The operational build is the actual product.

@avijeet_sen discusses the key questions which the industry needs to solve to make investing in foreign securities via a PMS a seamless reality: https://t.co/OfXc0X3uBB

[Capitalmind @capitalmind_in]

Why would a stock's closing auction price differ sharply from where it traded all day? That's the question India's new Closing Auction Session is forcing investors to ask.

The closing price isn't cosmetic. It feeds your mutual fund NAV, your index fund, your PMS valuation. So how it's discovered actually matters.

Shray Chandra and @deepakshenoy unpack how CAS actually works, what its early days reveal, whether it cuts down manipulation or just creates new ways to game the close, and what to watch as it evolves.

Do give it a listen: https://t.co/SKeafvaltc

[Capitalmind @capitalmind_in]

Everyone tells you to diversify globally. Fair enough. Investing abroad can add diversification, access to different economies and exposure to businesses that may not exist in India.

What almost no one tells you is how messy that gets: valuations, currency risk, taxes, LRS limits, which vehicle to even use, and how much to actually allocate.

Our latest podcast skips the tired India vs US debate for a better question: how should an Indian investor actually think about going global? @deepakshenoy breaks it down with Shray Chandra.

We talk about what makes this hard, why active management might matter more here than at home, and how overseas allocation fits into a real portfolio, not a side bet.

Listen: https://t.co/OzAGOSAPqd

[Deepak Shenoy @deepakshenoy]

RBI will do an early close of the FCNR scheme - only deposits brought in till August 31, 2026 will qualify for the zero cost swap. $52bn has already come in from the FCNR deposits. Looks like this is enough.

ECBs/OFCB - corporate borrowing that is - continues till Dec 31.

[Capitalmind @capitalmind_in]

Mutual funds. ETFs. PMS. Direct stocks. Same Indian market, four different tax outcomes—if you're an NRI or OCI in the UK or Canada.

@deepakshenoy and @avijeet_sen join Shray Chandra to unpack how each one is actually taxed, and why the wrong choice can quietly eat your returns.

No jargon. Just a framework for thinking about cross-border investing before you pick a wrapper.

Watch: https://t.co/s9Apti5DVB

[Capitalmind @capitalmind_in]

@docpathan Yes, deserv also offers Mutual fund strategies in their PMS. However, our fee structure is very different from deserv's. We charge a low flat management fee on all our mutual fund strategies and do not charge any performance fee.

[Capitalmind @capitalmind_in]

Capitalmind Financial Services Private Limited, SEBI Registered Portfolio Manager: INP000005847

In 2022, almost every PMS in India was built on direct stocks. We built All Weather Equity (AWE), one of the first MF-based PMS strategies in India four years ago. The push came from senior professionals whom we kept hearing from.

Some weren’t allowed to own individual stocks by their employers. Others could, but only inside narrow clearance windows due to insider-trading norms.

The bigger surprise was that most of them weren't short of fund managers. In fact, they had too many. Multiple PMSs and AIFs, a bouquet of mutual funds bought across a decade, half doing the same job, and a combined return that barely beat the index after fees.

So we built one portfolio to hold anyone’s entire equity allocation for every 5-year-plus goal. One portfolio for all your long term goals, which can be funded by lump sum or SIP or both.
Around 40% sits in low-cost index funds anchoring the portfolio to broad market returns. The other 60% goes into actively managed equity funds picked by a rules-based model, and that's where the outperformance has come from.

As of today, we manage around ₹300 cr in this strategy, and it has helped many of our clients build wealth steadily. Since inception, AWE has compounded at 16.6% a year (net of our fees) against Nifty 50's 12.2%. The AWE strategy has beaten its benchmark in every 2-year and 3-year rolling window since launch.

We do not charge a performance fee. Taking a cut of your profits based on the performance of the underlying mutual fund managers is like taking credit for someone else’s skill.
Hence, we only charge a low fixed management fee as a percentage of investment to research and curate a selection of just 6-8 funds (direct plans only) out of the hundreds available, review and rebalance periodically, and to essentially manage the only equity mutual fund portfolio you need.

If any of that sounds relatable, AWE might be worth a look. Our Client Advisory Team will also review your existing mutual fund holdings and show how AWE fits in. Set up a call using this link or write to us at [email protected].

[Deepak Shenoy @deepakshenoy]

Monthlies: Nifty ended July with a 2% return, but is still down quite a bit for the year this far. Would probably be good for averages if it stays at a negative return cos it's been 10 years of consecutive positive returns for the Nifty

[Deepak Shenoy @deepakshenoy]

FPI data for July is finally seeing foreign portfolio investors do a positive 20,000 cr. into equity after four months of pulling out money. (So far in August they've also added 12,000 cr more)

[Deepak Shenoy @deepakshenoy]

The AWE mutual fund approach at the @capitalmind_in PMS has been a wealth builder for many investors, as it crossed 4 years in existence. Take a look:

[Sahil @investkahakare]

4 years of quietly compounding money for investors who wanted to "fill it-shut it-forget it"

Our @capitalmind_in PMS All Weather Equity strategy crosses ₹300 crores in assets under management! 🎉🎉

Capitalmind Financial Services Private Limited

SEBI Regd. Portfolio Manager INP000005847