Whiteoak capital Equity Fund

AIF - Public-Domestic Equity

Listed Equity

Multi / Flexi Cap

Diversified

India Super Value

Equity

Aggressive Growth

Investor Profile

1 - 7 YearsInvestment Horizon

HNITarget Segments

SEBI-registered Category III AIF, close-ended, Reg. No. IN/AIF3/23-24/1259. Minimum ₹1 Cr commitment, resident investors only per the deck.Regulatory Fit

Whiteoak capital Equity Fund invests in alternative assets for non-traditional growth opportunities.

What This Strategy Does

White Oak Capital Management- India Equity Fund V - Category III AIF is an equity fund which captures India's private equity opportunity through concentrated investments, deploying capital across high-growth sectors to achieve benchmark-beating compounding.

CW Expert Research Notes

Concentrated Conviction

The fund's concentrated portfolio construction, with high active share and conviction-weighted positions, enables differentiated outcomes versus the benchmark.

Structural Growth Tailwinds

The strategy capitalizes on India's multi-year structural growth drivers, including rising consumer incomes, urbanization, and digital transformation across industries.

Valuation Discipline

The manager's disciplined valuation framework and focus on high-quality compounders could provide downside protection in volatile markets.

Performance and Risk Analysis

Historical returns, volatility patterns, and how this fund has performed relative to its benchmark.

Detailed Risks

Market Risk

Potential recession in India driven by high inflation could impact consumer spending.

Disclaimer: Investments in Alternative Investment Funds (AIFs) are complex and involve a high degree of risk. They are strictly offered via private placement and there is no assurance of returns or capital protection. Further, subscriptions to AIF funds are restricted exclusively to eligible high-net-worth individuals, institutions, or accredited investors meeting the statutory threshold. Prospective investors should review the Private Placement Memorandum (PPM) and consult their financial advisors before making an investment decision. In the case of Category III AIFs, in funds utilizing leverage there may be an increase in the volatility of returns.

Strategy Details

A closer look at the investment thesis, portfolio construction, and current holdings.

Core Investment Theme

Provides exposure to India's entrepreneurial energy through a concentrated portfolio of high-conviction small and mid-cap companies. This approach captures the outsized growth potential of businesses disrupting established industries or creating new markets.

Broader Market View

Market Outlook

India’s economic outlook remains supported by domestic consumption, infrastructure development, urbanisation, and long-term investment activity. While global uncertainties, inflationary pressures, and evolving interest-rate conditions may contribute to near-term volatility, underlying economic fundamentals remain supportive of long-term growth. A selective approach focused on valuations, asset quality, and sustainable returns remains important across market cycles.

Why This Strategy is Attractive Now

This strategy seems well-positioned for the current environment with its balanced exposure across consumer cyclicals, defensives, financials, and technology. The portfolio's diversification across market leaders and approximately 70 holdings, coupled with moderate beta and flexibility, appears aligned with risk-adjusted returns as the market normalizes.

Investment Style & Process

Investment Style

The portfolio appears to follow a concentrated, high-conviction investment approach focused on quality growth companies.

Why it Makes Sense

This style is well-suited for an environment where earnings visibility and pricing power are paramount, allowing quality franchises to compound returns.

High-Level Investment Process

Sourcing: Seeks companies with sustainable competitive advantages, robust financials, and credible management teams. Selection: Emphasizes secular growth drivers, pricing power, and reasonable valuations relative to long-term prospects. Construction: Concentrated portfolio of high-conviction ideas, suggesting a willingness to let winners run.

Fund House Management

The asset management company’s track record, AUM scale, and fund manager credentials.

Fund Manager Track Record

Ramesh Mantri

Lead Portfolio Manager

Holds MBA, CFA and CA, and previously worked at White Oak Capital Management LLP, Ashoka Capital Advisers, Smith Management and CRISIL

Manager's Investment Philosophy

Outsized returns come over time from investing in great businesses (superior returns on incremental capital, scalable opportunity, strong execution and governance) bought at a substantial discount to intrinsic value. Uses a proprietary OpCo-FinCo framework

Aashish P Somaiyaa

Co-Portfolio Manager

Aashish P. Somaiyaa is the Chief Executive Officer (CEO) of WhiteOak Capital Asset Management Limited. He has over 25 years of experience in the asset management industry, specialising in business strategy, sales and distribution, product development, marketing and business management. Before joining WhiteOak Capital in 2020, he served as Managing Director and CEO of Motilal Oswal Asset Management Company for nearly eight years, where he helped expand its equity assets across mutual funds, portfolio management services (PMS) and alternative investment funds (AIFs). Earlier, he headed retail business and sales and distribution at ICICI Prudential AMC, covering mutual funds, PMS and real estate offerings across India and the Middle East. He holds a Bachelor of Engineering in Polymer Science from Pune University and a Master’s in Management Studies in Finance from NMIMS, Mumbai University.

CW Expert Take

White Oak Capital Management operates with entrepreneurial agility in the alternatives space. Their strength lies in identifying niche opportunities and taking concentrated positions backed by rigorous due diligence. The fund house maintains disciplined risk management frameworks while actively managing portfolios across asset classes.

Firm Overview

AMCWhiteOak Capital Asset Management Limited

Founded2017

Total AUM₹46,591 Cr

AMC Description :

WhiteOak Capital Asset Management Limited is the investment manager of WhiteOak Capital Mutual Fund, sponsored by GPL Finance and Investments Private Limited (now sole sponsor, after YES Bank's exit), with WhiteOak Capital Trustee Limited as trustee. The fund was formerly YES Mutual Fund. It is part of WhiteOak Capital Group, which has investment research teams in India, Singapore and Spain and sales offices in Switzerland, the UAE and the UK (secondary source). Group companies in India also run PMS/AIF via White Oak Capital Management LLP.

Investment Philosophy & Approach

Disciplined Investing

White Oak Capital follows a disciplined, research-driven investment approach.

Risk Management

Robust risk management framework with emphasis on capital preservation.

Long-Term Focus

Adopts a long-term investment horizon for sustainable value creation.

Operational & Regulatory Details

What it costs to invest, transaction mechanics, and regulatory disclosures you should know.

Costs and Fees

Annual Management Fee0.2%

Regulatory & Tax Information

AIFWCEF21

ISIN

MonthlyDealing Frequency

BSE 500 TRBenchmark

STCG | <<=12 Months 20%

LTCG | >>12 Months 12.5% on gain above 1.25 Lakh

Tax Implications (India)