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WhiteOak Capital Mutual Fund (MF) on Wednesday announced the launch of two new fund offers (NFOs) - ‘WhiteOak Capital Mid Cap Fund’ and ‘WhiteOak Capital Tax Saver Fund’. While the NFO for the Mid Cap fund closes on 30th August 2022, the Tax Saver Fund NFO will continue till 23rd September 2022. 

These are open-ended equity schemes, with the Mid Cap fund predominantly seeking to invest in mid-cap stocks, and the Tax Saver Fund investing in companies across market caps for broader diversification. Both regular and direct plans will be available for investors, the company said in a statement. The fund managers for both these funds will be Mr. Ramesh Mantri for Equity, Piyush Baranwal for Debt, and Trupti Agrawal for overseas investments.

Nearly 65% of the portfolio will comprise of Midcap stocks in WhiteOak Capital Mid Cap Fund. The remaining allocation will be towards both large caps (for liquidity purposes) and small caps (to capture some compelling opportunities). The fund is benchmarked against S&P BSE Midcap 150 TRI. The primary objective is to generate capital appreciation by actively investing and managing a diversified portfolio primarily comprising of mid-cap stocks. The Nifty Midcap 150 TRI has generated returns of 12% CAGR for the past 5 years and 17.5% CAGR for the past 10 years.

The WhiteOak Capital Tax Saver Fund qualifies for tax deduction under Section 80C of the Income Tax Act, 1961, and has a lock-in period of three years with wealth creation opportunities in the long run. The fund will be invested in companies across market cap and sectors. The fund will be benchmarked against S&P BSE 500 TRI, it added.

WhiteOak Capital Asset Management Company (AMC) is part of WhiteOak Group. WhiteOak Group manages 42,500 crore (~$5.4 billion) of assets under its advisory with International Assets comprising of 72% of its AUM.

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