CapitalMind Surge India
CapitalMind PMS | Equity | | PMSIME's View on CapitalMind Surge India
Strategy
Momentum-based Approach
Investment Fund
We typically do not recommend Thematic funds to investors, since it requires getting in and out of the theme at the right time. Typically a strong contra approach (investing in themes when they are out of favour, and getting out when they are popular) leads to better performance, but this is very hard to actually implement in practice given strong behavioural instincts against such an approach (investors often end up entering themes post a run-up, which can often be the worst time to invest). In our view, thematic funds are primarily suitable for more astute investors who have a deep underlying understanding of the investment merits of the theme.
Fund's Strategy View
The Capitalmind Surge India Strategy is an actively managed, data-driven investment approach that seeks to capitalize on India's evolving economic megatrends. It builds a diversified portfolio of 30–35 stocks across large, mid, and small-cap segments, with approximately 35–40% allocated to large-cap stocks and the rest in mid and small-cap companies, aiming for long-term capital appreciation.
Fund Performance
The fund has outperformed peers in the last 5 year trailing returns. In terms of longer-term annual performance, performance consistency is weak, with the fund having underperformed it's benchmark in more years than having outperformed.
IME's View on CapitalMind PMS
View on AMC
We do not recommend investing in Wizemarket/CapitalMinds PMS due to their lack of long-term credentials in fund management, undefined investment process, and disparate portfolio strategies.
AMC's Pedigree
Wizemarket PMS is a Fintech PMS provider founded in 2014 by Capital Mind. The promoter is a respected investment professional known for the Capitalmind blog, but the asset management credentials are still being established.
AMC Team
The promoter is respected but lacks a proven track record managing third-party funds over time that can be publicly audited.
Investment Philosophy
The AMC lacks a clear strategy, but they have 2 well-defined actively managed equity strategies in place.
Investment Strategy
The Capitalmind Surge India Strategy aims to achieve long-term capital appreciation by investing in companies poised to benefit from significant structural shifts within the Indian economy. These megatrends include financialization, logistics advancements, domestic consumption growth, import substitution, and the electrification of transport
Core Investment Approach
Megatrend Identification:
- Focus on sectors and companies that are at the forefront of transformative changes in the Indian economy.
- Target industries experiencing paradigm shifts, such as financial services, logistics, consumer goods, manufacturing, and electric vehicles.
Fundamental Analysis:
- Conduct in-depth research to identify high-quality, growth-oriented companies with strong fundamentals.
- Evaluate factors like management quality, competitive advantage, financial health, and earnings growth potential.
Trailing Performance
| 1yr | 3yr | 5yr | Since Inception | |
|---|---|---|---|---|
| CapitalMind Surge India | -4.1 | 23.7 | 25 | 12.7 |
| S&P BSE 500 | -6.6 | 14.7 | 19.2 | 12.8 |
| Alpha over Broad Mkt BM | 2.5 | 9 | 5.8 | -0.1 |
Performance as of: 30-Sep-25 | Inception Date: 03-Nov-17 | Performance are post-fees, pre-taxes. Global funds denominated in USD or fund currency.
Investment team
Deepak Shenoy | 3-star rated FM
Founder & CEO | 29 yrs Experience | 12 yrs at current firm
Past Experience: Consulting Director, Strategies (Estee Advisors), Chief Executive Officer (Moneyoga.com)
Deepak Shenoy began as a coder, later co-founding Agni Software and Moneyoga, before launching Capitalmind a decade ago; he now leads it as Founder & CIO, managing quant-driven PMS strategies and steering it toward becoming a full-fledged mutual fund.
Anoop Vijaykumar | 2-star rated FM
Head of Research and Fund Manager | 25 yrs Experience | 6 yrs at current firm
Past Experience: Investment Advisor (The Calm Investor), Director Business & Sales Operations (Microsoft), Director, Strategy & Marketing (Honeywell), Principal (A.T. Kearney), Engagement Manager (KPMG Business Advisory), Senior Consultant (Universal Consulting India Pvt Ltd), Programmer Analyst (Infosys Technologies Limited)
Anoop Vijaykumar comes with 18 years of experience across various business roles. Anoop started his career as a Programmer Analyst at Infosys and made his way into business and strategy after his PGDM at ISB, Hyderabad. Anoop Vijaykumar has worked as a Business Strategy & Operations Consultant with Kearney, and has held various leadership roles at Honeywell, Zomato, and Microsoft before turning into an Investment Advisor. Due his predominant experience outside of capital markets in the 18 years of his career, we are not willing to rate him higher on our scale. Prior to capitalmind, he wrote about investing on his site "thecalminvestor".
