- The NFO will be open for subscription between July 12 and 26
- The minimum investment that can be made in the fund is Rs 500 and thereafter in multiples of Re 1.
- As per the latest AMFI data, the AAUM in the state of Gujarat was around ₹2,63,400 crore in May 2022 which is about 7.05% of the total MF industry’s AAUM in India
- WhiteOak Capital AMC has already empanelled distributors and plans to open nearly 100 branches across 80 cities across the country in the next 12-18 months out of which over 10 branches will be opened in major cities like Surat, Rajkot in Gujarat.
NE BUSINESS BUREAU
AHMEDABAD, JULY 11
WhiteOak Capital Asset Management Company on Monday announced the launch of its first equity New Fund Offer (NFO) ‘WhiteOak Capital Flexi Cap Fund’. This is an open-ended dynamic equity scheme investing across large, mid, and small-cap stocks.
The NFO opens on 12th July and closes on 26th July. The minimum investment that can be made in the fund is Rs 500 and thereafter in multiples of Re 1. The exit load of 1% on the NAV is only applicable if the units are redeemed within one month from the date of allotment and ‘Nil’ thereafter, says a senior official of the company.
The fund aims to build an active, well-diversified portfolio, representing a cross-section of companies across major industries, economic sectors, and market-cap segments.
Further, the fund with no market-cap bias along with style-and-sector agnostic approach will lead to diversification which help to mitigate the concentration risks.
The company has offices in India, Singapore, UK, Switzerland and Mauritius.
The company had inaugurated its offices at Ahmedabad and Vadodara on March 14, 2022. This initiative is a step forward in the direction of covering India well beyond the metro cities including B30 locations. The move will also help achieve higher inclusivity through Omni-channel presence across physical, virtual, and digital channels.
As per the latest AMFI data, the AAUM in the state of Gujarat was around ₹2,63,400 crore in May 2022 which is about 7.05% of the total MF industry’s AAUM in India. With a large population and increasing financial awareness, Gujarat is an important market for the company.
Apart from flexi-cap, the fund house has also received SEBI approval for launching new offers on large-cap, mid-cap, tax saver and large and mid-cap fund.
India’s Mutual Fund AUM to GDP is just 12%, which is low compared to other large markets globally and is expected to grow in double digits for the next few years, with non-metro areas likely to contribute to the growth in a bigger way. WhiteOak Capital AMC has already empanelled distributors and plans to open nearly 100 branches across 80 cities across the country in the next 12-18 months out of which over 10 branches will be opened in major cities like Surat, Rajkot in Gujarat.
Prashant Khemka, the founder of WhiteOak Capital Management, was the CIO of Goldman Sachs Asset Management’s India Equity and Global Emerging Markets Equity businesses. The AMC will be headed by Aashish P Somaiyaa who will be the CEO, along with Prateek Pant the CBO and Ramesh Mantri the CIO of the AMC. This also makes WhiteOak Capital Asset Management among the few Indian asset management companies in India that was founded by an investment professional. WhiteOak Group manages totally more than Rs 40,812 crore of assets invested in India from investors globally, including Rs 11,000 crore from domestic investors. In addition, the team’s focus on alpha generation has consistently yielded peer-group leading performance across various funds since inception.
Ramesh Mantri, CIO, WhiteOak Capital Asset Management Company said, “At WhiteOak, we consciously seek to maintain a balanced portfolio reflecting our team’s stock selection capabilities rather than being driven by non-stock specific macro factors such as market timing, sector, currency or other such factor exposures. We will strive to provide the best-in-class investment retail products to the retail investors of the country along with industry beating returns. Mid-capand small-cap segments offer higher opportunities.”
