WhiteOak Capital Celebrates 3 years of Multi Asset Allocation Fund
WhiteOak Capital today marked the completion of three years of its Multi Asset Allocation Fund. The fund’s total AUM is ?7,315 crores as of May 19th, 2026. Since inception, the Scheme has generated 15.82% CAGR returns and has maintained annualized volatility of 5.51%, which is the second lowest, followed by Debt. The Scheme’s Return per unit of Risk is 2.87, much higher than that of Equity and Gold while only slightly less than Debt. This means that the Scheme has not only delivered reasonable returns but also maintained a tolerable level of volatility for its investors.
Please find below the its key findings.
AUM Trend
WhiteOak Capital Multi Asset Allocation Fund commenced its journey in May 2023 with an AUM of Rs. 73 crore and has since witnessed a strong and steady growth trajectory, with the AUM rising to Rs. 7,315 crore as on May 19, 2026. The Fund’s AUM growth has been gradual, consistent and broad-based over the last three years, reflecting increasing investor confidence in the Scheme’s investment philosophy and dynamic asset allocation framework.
Net Domestic Equity Allocation
The Scheme commenced its journey with a net domestic equity allocation of 31.6% in May 2023. The lowest level recorded was 23.9% in September 2024, not surprisingly the all time high level of equity markets. As we can observe in the graph below, the change in net equity level is not merely a function of the change in the market level but also market valuation.
Allocation to Gold
Despite this volatility, WhiteOak Capital Multi Asset Allocation Fund dynamically managed its Gold exposure through its proprietary in-house asset allocation model, which evaluates the relative attractiveness of Gold vis-à-vis other asset classes. By actively calibrating allocations based on changing market conditions and valuation parameters, the Scheme was able to effectively utilize Gold not only as a portfolio diversifier and risk mitigator, but also as a meaningful contributor to overall portfolio returns over different market cycles.
Asset Allocation Trend Since Inception
Since its inception in May 2023, WhiteOak Capital Multi Asset Allocation Fund (MAAF) has dynamically managed its portfolio allocation across multiple asset classes including Domestic Equity, Foreign Equity, Gold, REITs/InvITs and Debt + Arbitrage based on evolving market valuations and relative attractiveness. The allocation trends highlight the Scheme’s active and disciplined asset allocation approach, with Domestic Equity exposure ranging between ~24% and 32%, Gold allocation dynamically moving between ~10% and 23%, and Debt + Arbitrage forming a meaningful stabilizing component of the portfolio. This demonstrates the Fund’s flexibility in adapting to changing market conditions while aiming to deliver reasonable long-term returns with lower volatility through diversified exposure across low-correlated asset classes.The key risk is delaying investment, as missing out on regular SIP contributions can significantly reduce long-term wealth creation, regardless of market timing.
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