WhiteOak Capital Mutual Fund has filed a scheme information document (SID) with market regulator Securities Exchange Board of India (Sebi) for a large-cap fund, WhiteOak Capital Bluechip Fund, an open-ended equity that predominantly invests in large-cap stocks.
The investment universe of "Large Cap" shall consist of 1st to 100th company in terms of full market capitalization. The list of stocks would be uploaded on the AMFI website and would be updated every six months based on the data as on the end of June and December of each year or periodically as specified by Sebi.
As per the Sebi's mandate for large-cap funds, 80% of the total assets of the scheme shall be invested in the large-cap stocks.
The scheme will be benchmarked to S&P BSE 100 TRI. The SID mentions that since the fund’s strategy is to invest in a diversified portfolio of large-cap companies across sectors, S&P BSE 100 TRI, which comprises of large-cap companies across sectors, is an appropriate representation of the Indian large-cap segment.
The fund will be managed by Ramesh Mantri and Piyush Baranwal who have over 18 years and 13 years’ experience in the financial market.
The minimum application amount during the new fund offer (NFO) period, once announced, and during the ongoing offer period is set at ₹500. The minimum investment amount for systematic investment plans (SIPs) - Weekly SIP, Fortnightly SIP, Monthly SIP is ₹500. For quarterly SIPs, the minimum application amount will be ₹1,500.
In terms of taxation, for equity funds, the short-term capital gains realized on redeeming units before one year are taxed at a flat rate of 15%, and the long-term capital gains exceeding ₹1 lakh a year attracts tax at 10%.
