Whiteoak Capital Global Emerging Markets Ex India GIFT Fund
A globally diversified equity strategy capturing growth opportunities across emerging markets, excluding India.
What This Strategy Does
CW Expert Research Notes
Performance and Risk Analysis
Historical returns, volatility patterns, and how this fund has performed relative to its benchmark.
Benchmark Performance Comparison
Risk Profile
Detailed Risks
Emerging-Market & Geopolitical Risk
The strategy is exposed to political, regulatory, currency and market risks across multiple emerging economies. Changes in government policy, capital controls, geopolitical tensions or local market regulations can materially affect portfolio companies and valuations. Emerging-market investments generally carry risks beyond those associated with more developed markets.
Disclaimer: Products compared like fixed deposits may provide fixed guaranteed returns. Mutual Funds investments are subject to market risk, read all scheme related documents carefully before investing. Past performance is not an indicator of future returns.
Strategy Details
A closer look at the investment thesis, portfolio construction, and current holdings.
Core Investment Theme
The central theme is owning high quality EM franchises where long term business value is stronger than what current market pricing reflects. WhiteOak looks for companies with sustainable competitive advantages, superior incremental returns on capital, scalable end markets and aligned management, while requiring a meaningful discount to intrinsic value before investing.
Broader Market View
Emerging Markets Beyond India
Diversification Across Economic Cycles
Investment Style & Process
Bottom-Up & Style Agnostic
Long-Only Multi-Cap Exposure
Portfolio Holdings Overview
Geographic Allocation
Top Stock Holdings
Fund House Management
The asset management company’s track record, AUM scale, and fund manager credentials.
Fund Manager Track Record
Prashant Khemka
Lead Portfolio Manager
The fund is led by Prashant Khemka, Founder of WhiteOak, who brings over two decades of global investing experience. Before launching WhiteOak in 2017, he served as CIO and Lead Portfolio Manager at Goldman Sachs, where he successfully scaled both the India and Global Emerging Markets strategies, delivering peer-leading returns.
Manager's Investment Philosophy
Prashant Khemka follows a bottom up, stock selection driven approach focused on investing in great businesses at attractive valuations. He evaluates businesses based on their returns on capital, scalability, competitive advantages, execution and governance, while seeking a meaningful gap between market price and intrinsic value. His philosophy is to invest in businesses rather than make macro, market timing or sector bets.
Aashish P Somaiyaa
Co-Portfolio ManagerAashish 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
WhiteOak brings a research-driven, bottom-up approach to global emerging markets, focusing on identifying quality businesses with attractive long-term growth potential while maintaining valuation discipline. The Ex-India mandate provides a differentiated proposition for investors seeking to diversify beyond Indian equities and participate in structural growth opportunities across emerging economies.
Firm Overview
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
Business Quality Over Macro Forecasting
The investment process is fundamentally focused on identifying businesses with durable economics and long-term compounding potential. The approach is research-led and seeks to derive returns from company-specific opportunities rather than depending heavily on short-term macro calls.
Growth With Valuation Discipline
The strategy combines fundamental growth assessment with valuation discipline. The underlying portfolio, as of April 2026, showed a projected three-year revenue CAGR of 23.9%, indicating a preference for companies where future earnings growth can support the investment case.
Operational & Regulatory Details
What it costs to invest, transaction mechanics, and regulatory disclosures you should know.
Costs and Fees
Regulatory & Tax Information
STCG | <12 Months 20%
LTCG | >>12 Months 12.5% on gain above 1.25 Lakh
Tax Implications (India)