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WhiteOak Capital Mutual Fund today announced the launch of their new fund offer (NFO) - ‘WhiteOak Capital Digital Bharat Fund’, an open-ended equity scheme investing in Technology and Technology related companies. The NFO opens on 20th September and closes on 4th October 2024.

WhiteOak Capital Digital Bharat Fund's primary objective is to provide long-term capital appreciation by investing predominantly in equity and equity-related instruments of technology and technology-related companies.

In India, new-age businesses are driving 'Digital Bharat' by leveraging cutting-edge technology to enhance innovation, efficiency, and inclusivity. From fintech companies revolutionizing access to financial services through digital payments and lending platforms to e-commerce giants making goods and services accessible in the remotest parts of India, these businesses are playing a crucial role in creating a connected and empowered digital economy. At the same time India is the global captive hub, emerging engineering R&D and electronic manufacturing hub as well as software developer to the world. However, these businesses currently do not have adequate representation in traditional indices and hence in investors’ portfolios whereas they represent a material proportion of investment opportunities and related growth in times to come.

 Speaking on the technology sector, Mr. Aashish Somaiyaa, CEO of WhiteOak Capital Asset Management Limited said, “Industry data shows strong appetite from investors for investing in growth-oriented themes in mutual funds but most of that is going into cyclical themes; themes that have already run up a lot in last 2-3 years. For thematic funds it is imperative that they are invested in long sustainable themes and at a time when those themes that are counter-cyclical to current market trends. While a spate of funds being launched were offering manufacturing, energy, defense, infrastructure and related themes, ‘red hot’ on the back of last 2-3 years performance, we created BFSI, Pharma and Special Opportunities funds that were counter-cyclical at those times and the outperformance is there to see vs. the “red hot” themes. On the same lines we are now launching Digital Bharat which we believe is a long term sustainable theme and is counter-cyclical to recent trends and flows”

Mr. Ramesh Mantri, CIO of WhiteOak Capital Asset Management Limited said, “Advancements in cloud computing, data analytics, and automation are further fostering innovation in healthcare, education, agriculture, and logistics, contributing to the vision of ‘Digital Bharat’. The ‘WhiteOak Capital Digital Bharat Fund’ aims to capitalize on this trend by investing in technology and new age busineses, with a focus on long-term wealth generation. The business will provide balanced exposure to global technology adoption through Indian Technology companies and ongoing rapid digital transformation in India through new age businesses and digital ecosystem enablers.”

 The fund portfolio allocation will include 80%–100% in equity and equity-related instruments of technology and technology-related companies, 0%–20% in equity and equity-related instruments of other companies, 0%–20% in debt securities and money market instruments, and 0%–10% in units issued by REITs and InvITs. The scheme is benchmarked against the BSE Teck TRI.

The fund will be managed by Mr. Ramesh Mantri (Equity), Ms. Trupti Agarwal (Assistant Fund Manager, Equity), Mr. Dheeresh Pathak (Assistant Fund Manager, Equity), and Mr. Piyush Baranwal (Debt). The fund is suitable for investors seeking long-term capital appreciation with a focus on equity and equity-related instruments of technology and technology-related companies.

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