WhiteOak Capital MF collects ₹550 crore from its maiden equity fund
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
PremiumWhiteOak Capital Asset Management has collected nearly ₹550 crore during the new fund offer (NFO) period of its maiden equity fund -- WhiteOak Capital Flexicap Fund.
This is an open-ended dynamic equity scheme investing across large-, mid-, and small-cap stocks. The NFO was open during 12 July to 26 July.
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, no market-cap bias along with style and sector agnostic approach will lead to diversification which helps to mitigate the concentration risks.
According to the fund house, 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 over 350 locations participated in this flexi-cap fund offering," the fund house said.
WhiteOak Capital Group has a five-year history of servicing global investors through offshore offerings as also to domestic HNIs and family offices through the PMS and AIF.
“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," said Aashish P Somaiyaa, CEO, WhiteOak Capital Asset Management said,
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.“
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