WhiteOak Capital Arbitrage Gr

All Cap

Commodities

India Debt Liquid Market

Liquid

Others

Empty

1–7 yearsInvestment Horizon

Empty

What This Strategy Does

WhiteOak Capital Arbitrage Reg Gr is an equity arbitrage fund which captures India's ₹2 trillion+ financialization opportunity through cash-equity arbitrage strategies, deploying capital across financials, industrials, and technology to achieve benchmark-aligned compounding.

CW Expert Research Notes

Consistent Outperformance

The fund has demonstrated resilient benchmark-relative behavior, outperforming in 9 out of 11 years, highlighting its ability to deliver consistent outcomes across market cycles.

Differentiated Positioning

The fund's investment process is differentiated from peers through its overweight exposure to the financial services sector and a bias towards large-cap stocks, expressing conviction in quality franchises with robust earnings delivery.

Defensive Risk Profile

With a low volatility of 0.884 and a strong Sharpe ratio of 1.147, the fund exhibits a defensive risk profile, potentially offering downside protection and making it suitable as a portfolio diversifier.

Performance and Risk Analysis

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

Fund Performance

0.0% AnnuallyAlpha

+0.0% vs +0.0% benchmarkSince Inception

+0.0% vs +0.0% benchmark3Y Annualized

+0.0% vs +0.0% benchmark5Y Annualized

WhiteOak Capital Arbitrage Gr

Benchmark Index

Benchmark Performance Comparison

WhiteOak Capital Arbitrage Fund

FD Returns

Given the product’s limited performance history, the assessment considers the fund house’s track record and the historical performance of comparable strategies managed by the same fund house, which follow similar investment approaches. Such comparisons provide historical context only and do not represent the performance of the new product or indicate its future returns.

Risk Profile

Standard Deviation0.6%

Sharpe Ratio1.15

Detailed Risks

Market Risk

Prolonged market volatility driven by recession fears could trigger arbitrage spreads widening, mitigated by low market-cap bias.

Liquidity Risk

Elevated volatility spikes could impair arbitrage execution, mitigated by large-cap tilt and cash buffers.

Concentration Risk

Outsized exposure to Indian financials amplifies idiosyncratic risks like asset quality concerns, mitigated by diversification across sectors.

Specific Strategy Risk

Regulatory changes impacting arbitrage strategies or tax treatment could pressure returns, mitigated by rigorous policy monitoring.

Strategy Details

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

Core Investment Theme

Captures pricing inefficiencies across asset classes through low-risk arbitrage strategies. This approach generates consistent returns by exploiting temporary mispricings between derivatives and their underlying securities, providing a source of low-volatility income.

Broader Market View

Market Outlook

Equity markets appear to be entering a mid-cycle phase, with an attractive entry point emerging after the recent valuation correction. Macro tailwinds such as consumption recovery, earnings normalization, and capex revival in sectors like consumer, financials, and industrials present opportunities, although risks like margin pressures remain.

Why This Strategy is Attractive Now

This strategy seems well-positioned for the current environment with exposure to consumer cyclicals, financials, and technology leaders. Its diversification across around 70 holdings, balanced between growth and stability, coupled with a moderate risk profile, suggests an ability to navigate changing conditions with flexibility.

Investment Style & Process

Investment Style

The portfolio exhibits characteristics of a Quality Growth approach, emphasizing companies with durable competitive advantages, consistent earnings growth, and reasonable valuations relative to their long-term potential.

Why it Makes Sense

In the current environment of moderating economic growth and elevated uncertainty, a Quality Growth strategy can offer a compelling combination of resilience and upside participation, balancing defensive attributes with exposure to secular growth opportunities.

High-Level Investment Process

Sourcing: The strategy appears to seek companies with sustainable competitive advantages, strong balance sheets, and attractive growth runways, drawing from a broad investment universe across market capitalizations and sectors. Selection: The process suggests a preference for businesses with durable pricing power, efficient capital allocation, and the ability to compound earnings and cash flows over an extended period. Construction: Portfolio construction is consistent with a focus on risk management through diversification, with an emphasis on limiting factor, sector, and stock-specific risks relative to the benchmark.

Portfolio Holdings Overview

SectoralAllocation

Consumers11.88%

Utilities2.72%

Services15.07%

Financial Services31.93%

Capital Goods17.5%

Energy & Infra10.74%

Technology10.15%

Geographic Allocation

Domestic100%

Top Stock Holdings

CompanySectorAllocation

Cash Offset For DerivativesUtilities74.81%

Clearing Corporation Of India LtdUtilities6.06%

WhiteOak Capital Liquid Dir GrUtilities5.44%

Vodafone Idea LtdServices4.61%

HDFC Bank LtdFinancial Services3.34%

Reliance Industries LtdEnergy & Infra3.32%

Bharti Airtel LtdServices2.76%

WhiteOak Capital Ultr S/T Dir GrUtilities2.64%

Axis Bank LtdFinancial Services2.62%

UltraTech Cement LtdCapital Goods1.72%

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

Mr. Ramesh Mantri has experience of 24 years. Manages 58 funds at WhiteOak Capital Asset Management Limited with an AUM of approximately ₹11,159 Cr Holds a M.B.A. degree.

Piyush Baranwal

Co-Portfolio Manager

Mr. Piyush Baranwal has experience of 19 years. Manages 92 funds at WhiteOak Capital Asset Management Limited with an AUM of approximately ₹11,733 Cr Holds a PGDBM degree.

CW Expert Take

WhiteOak Capital Arbitrage employs a low-risk arbitrage strategy. Their investment process involves identifying and capitalizing on pricing inefficiencies across equity and derivative markets. The fund maintains minimal net exposure, focusing on capturing spreads while hedging market risk. With a disciplined quantitative approach and tight risk management, the strategy aims to generate consistent returns with low volatility across market conditions.

62 years

Combined Team Experience

₹ 22,892 Cr

Assets Under Management

Firm Overview

AMCWhiteOak Capital Asset Management Limited

Total AUM₹29,798.08 Cr

Investment Professionals49+

Global Offices250 Cities

Investment Philosophy & Approach

Disciplined Approach

WhiteOak Capital follows a disciplined investment approach focused on risk management.

Rigorous Research

The fund house employs rigorous research to identify investment opportunities.

Long-Term Perspective

WhiteOak Capital maintains a long-term perspective in portfolio construction.

Operational & Regulatory Details

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

Costs and Fees

Total Expense Ratio (TER)3.31%

Regulatory & Tax Information

INF03VN01928

ISIN

DailyDealing Frequency

LTCG | >1Year 12.5%% on gain above 1.25 Lakh

STCG | <1Year 20%%

Tax Implications (India)