August 11, 2022: WhiteOak Capital Asset Management announced that it collected nearly Rs 550 crores during the new fund offer (NFO) period of its maiden equity fund - the WhiteOak Capital Flexicap Fund. WhiteOak has a strong performance-first culture founded on a simple stock selectionbased approach and robust risk management. 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.
The NFO has appealed to investors in India and internationally, and the same is reflected in a granular and well-diversified client base. Despite volatile market conditions and a near 40% decline in gross equity inflows as reported by AMFI, this fund garnered significant interest from investors and intermediaries alike. While more than 2,000 distributors were on-boarded, nearly a third of the contribution came from B30 cities in India. Around 25,000 unique investors across 350+ locations participated in this FlexiCap Fund offering.
Speaking on the conclusion of the NFO, Aashish P. Somaiyaa, CEO, WhiteOak Capital Asset Management said, “When a new brand is introduced especially in a fiduciary space like mutual funds it takes time to establish credentials; the most reliable mode of which, is to deliver performance. WhiteOak Capital Group has a 5-year history of having delivered performance to global investors through offshore offerings as also to domestic HNIs and family offices through the PMS and AIF. Given this was our maiden retail mutual fund offering, all we expected was a willingness from industry participants to experience us with a wide-spread participation and a critical mass of investor base on which to deliver performance and build track record. We are happy with this beginning and intend to bring further retail product launches throughout the rest of calendar year 2022. Over the next 3 years we will work simultaneously on building products and track record as also geographic presence and distribution relationships across channels. With the participation of around 25,000 investors across 350 cities in India and beyond we have created a strong outreach in our retail journey. Over 2,000 distributors have been prime influencers in enabling investment contributions from both Top-30 and Beyond-30 cities.”
He further added “Whiteoak Capital AMC’s Flexicap Fund is designed on the framework of what were erstwhile multi-cap funds well spread out across market caps but eventually vacated by the industry post change in product categorization. No requirement of investment in a particular band allows larger flexibility across different market caps We will stay invested, with overweight positions of 30-45% in small and midcap at most times. ”
About WhiteOak Capital Asset Management Limited
WhiteOak Capital Asset Management Company is part of WhiteOak Group. WhiteOak Capital group provides investment management and advisory services for equity assets of over INR 40,000 crores. Besides segregated managed accounts for leading global institutions, WhiteOak offers investment services through a wide array of fund vehicles domiciled in India, Ireland, Mauritius, and UK to individual and institutional investors in India and worldwide. WhiteOak has investment research teams based in India and Singapore, and additional sales and distribution offices in Switzerland and UK. WhiteOak Capital group was founded by Prashant Khemka, formerly CIO of Goldman Sachs Asset Management’s India Equity and Global Emerging Markets Equity businesses. WhiteOak’s WhiteOak Capital Asset Management Limited performance-first investment culture is founded upon the following four pillars; stock selection-based philosophy, high caliber research team, disciplined analytical process and balanced portfolio construction framework.
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