Bengaluru-based Capitalmind Financial Services Private Limited has secured in-principle approval from the Securities and Exchange Board of India (SEBI) to launch a new mutual fund, marking a significant milestone for the investment management firm. This development coincides with the company’s 10th anniversary, underscoring a decade of growth and achievement in the financial sector.
Capitalmind, which manages over ₹2,200 crore for more than 1,150 clients through its Portfolio Management Service (PMS), is poised to further its impact in the Indian mutual fund industry. The firm’s approval to establish a mutual fund reflects its strong reputation in performance, service, and research, and aligns with its strategic vision to capitalize on India’s dynamic growth story.
The mutual fund industry in India has been expanding rapidly, with assets under management (AUM) growing at a compound annual growth rate (CAGR) of 24 percent over the past five years. Despite a considerable market of 74.6 crore PAN cardholders, only 4.5 crore are unique mutual fund investors, presenting a significant growth opportunity.
Capitalmind’s progress reflects a broader trend among Bengaluru-based asset management companies, joining the ranks of other notable firms such as Zerodha Fund House, Groww Mutual Fund, and Navi Mutual Fund. The company has demonstrated remarkable growth, consistently doubling its assets under management each financial year and generating over ₹1,000 crore in client wealth within seven years.
With a focus on technological and operational enhancements, Capitalmind has positioned itself as a benchmark for transparency and client-centricity in the industry. The firm’s commitment to leveraging technology and maintaining high standards of regulatory compliance has been instrumental in its success and will continue to drive its future growth.
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