WhiteOak Capital REIT & InvIT Alternates Fund I
WhiteOak Capital REIT & InvIT Alternates Fund I strategically allocates 43.55% to real estate, capturing India's growth while diversifying across infrastructure and utilities for a balanced, income-generating portfolio.
What This Strategy Does
Role in a Diversified Portfolio
CW Expert Research Notes
Performance and Risk Analysis
Historical returns, volatility patterns, and how this fund has performed relative to its benchmark.
Detailed Risks
Market Risk
Potential recession or demand contraction in commercial real estate could undermine REIT cash flows, mitigated by portfolio's large-cap bias.
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
Captures India's infrastructure and real estate growth through a diversified portfolio of REITs and InvITs. This approach provides exposure to the country's expanding commercial real estate, power transmission, and transportation assets—sectors poised to benefit from urbanization and economic development.
Broader Market View
Market Outlook
Why This Strategy is Attractive Now
Investment Style & Process
Investment Style
Why it Makes Sense
High-Level Investment Process
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
Mr. Shariq Merchant
Lead Portfolio Manager
Shariq Merchant brings over 16 years of experience in financial services, with deep expertise in the Auto, Consumer, and Real Estate sectors. Prior to joining WhiteOak Capital, he worked with Duro Capital, Quest Investment Advisors, and Ambit Group. He has played a key role in building WhiteOak's REIT and InvIT franchise, establishing the firm as one of the most active participants in the REIT and InvIT asset class. Shariq is a Chartered Accountant and has successfully cleared all three levels of the CFA Program.
Manager's Investment Philosophy
Shariq Merchant’s investment philosophy focuses on fundamental research, disciplined valuation, and identifying quality REITs and InvITs with sustainable cash flows and long-term growth potential. His approach balances regular income generation with capital appreciation while carefully assessing asset quality, leverage, and risk.
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 Capital REIT & InvIT Alternates Fund I focuses on India's real estate and infrastructure growth. Their investment philosophy combines bottom-up analysis with macro insights to identify quality REITs and InvITs with sustainable cash flows. The fund house leverages deep sectoral expertise, particularly in real estate and infrastructure, to assess asset quality, leverage, and growth potential. Their strategies balance regular income generation with capital appreciation across market cycles.
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
Disciplined Approach
WhiteOak Capital follows a disciplined investment approach focused on fundamental research.
Quality Focus
The fund house emphasizes investing in quality REITs and InvITs.
Balanced Strategy
WhiteOak Capital aims to balance regular income with capital appreciation.
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)