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One97 Communications Ltd, which owns the brand Paytm, on Monday announced that its wholly-owned subsidiary Paytm Money will now offer Deepak Shenoy-founded Capitalmind’s Allcap Momentum portfolio on its platform.
Paytm Money in September 2021 had partnered WealthDesk, an investment technology platform, to launch a wealth and investment advisory marketplace to offer curated advisory services and products to retail investors. Paytm Money’s other suite of products includes mutual funds, direct stock investing, NPS retirement funds and initial public offers (IPOs).
Deepak Shenoy-founded Capitalmind is a portfolio management service registered with the Securities and Exchange Board of India (Sebi). The firm presently manages over ₹650 crore in assets and advises on ₹1,000 crore in its PMS.
As per Paytm Money, the first portfolio being offered by Capitalmind is the Allcap Momentum portfolio, which has shown a return of 37% over the last one year. The portfolio is reviewed monthly and would comprise 25 stocks at any point in time.
The stocks in the portfolio are weighted according to their rank and volatility compared to other candidates. Investors will get regular rebalancing updates on the portfolio. Further, Paytm Money users can invest in the Capitalmind Allcap Momentum portfolio by paying a subscription fee.
Deepak Shenoy, chief executive officer of Capitalmind said, “At Capitalmind, we use quantitatively built algorithms to create portfolios which are extensively designed, tested and managed by us for our customers."
With its advisory marketplace, Paytm Money in partnership with WealthDesk offers retail investors an opportunity to invest in ideas, themes or trading strategies they believe in with low-cost wealth creation strategies, while also removing unnecessary risks. The marketplace has now grown to include four advisors and 20 portfolios.
Varun Sridhar, CEO of Paytm Money said, “With our advisory marketplace, Paytm Money offers users an opportunity to invest in curated investment portfolios created by subject matter experts. We are expanding the marketplace and are pleased to onboard Capitalmind, founded by Deepak Shenoy, to our list of advisors. Capitalmind’s portfolio will be a great addition to our marketplace."
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