Capitalmind Flexi Cap Fund NFO: SIP starts at ₹1000; Check dates, fund manager, who can invest?

The flexi cap category of equity mutual funds has a new entrant with the new fund offer (NFO) of Capitalmind Flexi Cap Fund. The new fund offer opened on Friday (July 18, 2025).

Capitalmind AMC had filed the first draft of its flexi cap fund with SEBI in June 2025. This article takes a look at key features of the upcoming fund, including its investment strategy and who may invest in it. But first, take a look at an overview of the existing flexi-cap fund space:

Flexi cap fund: Category overview

All these 39 funds have a combined daily AUM of over ₹4.8 lakh crore, according to AMFI (data as of July 10, 2025). Parag Parikh Flexi Cap fund alone has a daily AUM of over ₹1.1 lakh crore.

The remaining AUM of the category is spread across 33 other flexi-cap schemes.

Among the top six schemes by AUM, direct plans of Parag Parikh Flexi Cap Fund, HDFC Flexi Cap Fund, Kotak Flexi Cap Fund, and Aditya Birla Sun Life Flexi Cap Fund have outperformed their respective benchmarks in 10 years, while SBI Flexi Cap Fund and UTI Flexi Cap Fund failed to do so.

Of the 38 existing flexi cap funds, only 19 schemes have existed for at least 10 years or more. And only 12 of them have managed to beat their respective benchmark indices, according to AMFI data as of July 10, 2025.

The competition in this category has increased in the last three years, as more than 10 mutual fund houses have launched their flexi-cap schemes. Some of the those schemes the following:

• WhiteOak Capital Flexi Cap Fund: Launched on August 2, 2022
• Helios Flexi Cap Fund: Launched on November 13, 2023
• Baroda BNP Paribas Flexi Cap Fund: Launched on August 22, 2022
• Mirae Asset Flexi Cap Fund: Launched on February 24, 2023
• Bajaj Finserv Flexi Cap Fund: Launched on August 14, 2023.

In the above backdrop, it will be interesting to see how Capitalmind's flexi cap scheme will compete against the existing players. That being said, let's have a look at some of the key details about the upcoming fund, according to the details shared by the AMC with SEBI.

What's this scheme?

Capitalmind’s flexi cap fund will be an open-ended “dynamic” equity scheme investing across large cap, midcap and small cap stocks for investors with a "very high risk" appetite.

It will be an “Active” scheme. The AMC says, "Due care has been taken while deciding the investment strategy is active:

What’s the index it will track?

The scheme will track Nifty 500 TRI, which is also tracked by most of the other flexi-cap funds. A few funds, however, also track BSE 500 TRI.

“The composition of the aforesaid benchmark is such that, it is most suited for comparing performance of the Scheme,” the AMC says.

Investment plans

The scheme will offer two plans: Direct and Regular. However, each of the plans will offer only the Growth option. It will also have a common portfolio across both plans.

Exit load

Units redeemed or switched out within 12 months from the date of allotment will attract 1% of the applicable NAV as the exit load. There is no entry load.

Investment amount

• Minimum application amount (lumpsum): ₹5,000 and in multiples of ₹1 thereafter
• Systematic Investment Plan (SIP): ₹1,000 and in multiples of ₹1 thereafter with a minimum of 6 instalments.

The NFO will be priced at ₹10 per unit.

Investment strategy

As per the fund’s document, Capitalmind Flexi Cap Fund will “employ a rule-based active approach using proprietary rule sets developed through an analysis of market, macroeconomic, and fundamental factors.”

It says, “Our equity allocation decisions are data-driven, based on objective market variables, including but not limited to macroeconomic variables, current equity market valuations and interest rates.”

However, the final investment decisions will be taken by the fund manager(s) “based on the data referenced above, but may also be based on specific subjective analysis of underlying securities.”

Fund manager

The fund will be managed by Anoop Vijaykumar, who has been associated with Capitalmind since 2019. He has been the PMS Fund Manager and head of Investment Research at Capitalmind PMS for the last 6 years. However, this is the first time when he will be managing an active mutual fund scheme.

NFO dates

The NFO opened on July 18, 2025, and it will close on July 28, 2025.

Who may invest?

The scheme may be suitable for investors interested in long-term wealth creation by investing predominantly in equity and equity-related instruments across large-cap, mid-cap, and small-cap stocks.

However, before investing in the scheme, you should consider whether it suits your asset allocation strategy and long-term financial goals.

Further, you should also take note of the following points before making a decision:

• The Capitalmind AMC has no track record of managing mutual funds.

• The fund manager will be managing an active mutual fund for the first time. But you may invest if you believe in his ability to deliver returns.

• In the last few years, multiple fund houses have tried to ride the popularity of the flexi cap fund space. Capitalmind’s flexi cap fund will be a new addition to the trend.

• If you are already investing in another flexi-cap fund, it might not make sense to switch to the new fund, unless your financial advisor says so.