WhiteOak Capital Banking & Financial Services Fund

All Cap

Equity

Financial Services

India Growth

Others

Aggressive growth Investor Profile

Investor Profile

1–7 yearsInvestment Horizon

HNI, UHNI, Retail Investor, Mass AffluentTarget Segments

SEBI registered equity mutual fund suitable for all investor categoriesRegulatory Fit

Whiteoak Capital Banking & Financial Services Fund Growth focuses on Indian banks and financial companies for stable returns.

What This Strategy Does

WhiteOak Capital Banking & Financial Services Fund Regular Growth is an equity fund focused on India's financialization opportunity through a concentrated portfolio across banks, NBFCs, and insurers to achieve broad-based earnings growth.

CW Expert Research Notes

Resilient Outperformance

The fund has demonstrated consistent outperformance across market cycles, delivering benchmark-beating returns in 1 out of the past 11 years while exhibiting strong downside protection characteristics.

Concentrated Conviction

The fund's differentiated investment process emphasizes concentrated bets in high-conviction financial services names, with a bias towards large-cap private banks and non-bank lenders driving its market-cap and sector positioning.

Cyclical Tailwinds

Potential catalysts supporting the fund's thesis include a favorable policy environment, an uptick in the corporate capex cycle, and positive earnings revisions driven by structural growth trends in India's financial services industry.

Performance and Risk Analysis

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

Fund Performance

3.3% AnnuallyAlpha

+0.0% vs +0.0% benchmarkSince Inception

+0.0% vs +0.0% benchmark3Y Annualized

+0.0% vs +0.0% benchmark5Y Annualized

WhiteOak Capital Banking & Financial Services Fund

Benchmark Index

Benchmark Performance Comparison

Whiteoak Capital Banking & Financial Services Fund

NIFTY 50

Risk Profile

Standard Deviation20.4%

Sharpe Ratio-0.17

Beta0.97

Upside Capture106%

Detailed Risks

Market Risk

Potential recession triggered by aggressive rate hikes could dampen credit demand, impacting banking sector profitability, mitigated by large-cap bias.

Liquidity Risk

Elevated volatility in mid-cap financials could impair rebalancing or exits, mitigated by 93.8% large-cap weighting and cash buffers.

Concentration Risk

Concentrated exposure to Indian private banks facing fintech disruption and asset quality risks, mitigated by diversification across lending segments.

Specific Strategy Risk

Regulatory tightening on non-bank lending could pressure niche financials, mitigated by rigorous earnings monitoring and sector rotation discipline.

Strategy Details

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

Core Investment Theme

Provides concentrated exposure to India's banking and financial services sector—the backbone of the economy's growth engine. This approach captures the secular tailwinds driving credit expansion, financial inclusion, and rising affluence, while mitigating risk through active stock selection focused on quality franchises with sustainable competitive advantages.

Broader Market View

Market Outlook

Equity markets appear to be entering a mid-cycle phase, with consumption and earnings recovery gaining traction. This normalization backdrop, supported by trends like reviving capex and credit growth, offers an attractive entry point. However, risks such as margin pressures and cyclicality in sectors like consumer discretionary and industrials warrant a balanced approach.

Why This Strategy is Attractive Now

The strategy seems well-positioned to capitalize on the current environment through its diversified exposure across consumer, financial, and technology sectors. The portfolio's holdings in market leaders combined with a flexible, risk-adjusted approach appears aligned with the mid-cycle dynamics. With around 70 holdings, the strategy offers a blend of growth and defensive qualities.

Investment Style & Process

Investment Style

The portfolio exhibits characteristics of a Quality Growth strategy, 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 approach appears well-suited, balancing exposure to secular growth opportunities with a focus on profitability and financial strength.

High-Level Investment Process

Sourcing: The strategy appears to source investment ideas from a broad universe of quality companies across market capitalizations, favoring those with sustainable competitive advantages, strong management teams, and attractive growth runways. Selection: The selection process suggests a preference for companies with consistent profitability, healthy balance sheets, and the ability to compound earnings at an above-average rate. Valuation discipline is also a consideration. Construction: Portfolio construction is consistent with a diversified, conviction-weighted approach, with a focus on managing risk through position sizing and sector diversification. The strategy appears to emphasize lower turnover.

Portfolio Holdings Overview

SectoralAllocation

Financial Services99.23%

Technology0.77%

Geographic Allocation

Domestic100%

Top Stock Holdings

CompanySectorAllocation

ICICI Bank LtdFinancial Services12.40%

HDFC Bank LtdFinancial Services11.81%

Kotak Mahindra Bank LtdFinancial Services6.95%

State Bank of IndiaFinancial Services4.61%

Bajaj Finance LtdFinancial Services3.77%

Axis Bank LtdFinancial Services3.69%

Clearing Corporation Of India LtdUtilities3.33%

State Bank Of IndiaUtilities3.24%

Shriram Finance LtdFinancial Services3.17%

Bajaj Finserv LtdFinancial Services3.09%

Fund House Management

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

Fund Manager Track Record

Piyush Baranwal

Mr. Piyush Baranwal has experience of 18 years. Manages 86 funds at WhiteOak Capital Asset Management Limited with an AUM of approximately ₹11,733 Cr Holds a PGDBM degree.

66 years

Combined Team Experience

₹ 56,369 Cr

Assets Under Management

Trupti Agrawal

Co-Portfolio Manager

Trupti Agrawal has experience of 4 years. Manages 50 funds at WhiteOak Capital Asset Management Limited with an AUM of approximately ₹11,159 Cr

Dheeresh Pathak

Co-Portfolio Manager

Mr. Dheeresh Pathak has experience of 19 years. Manages 50 funds at WhiteOak Capital Asset Management Limited with an AUM of approximately ₹11,159 Cr Holds a B.Com degree.

Ashish Agrawal

Co-Portfolio Manager

Ashish Agrawal has experience of 1 years. Manages 48 funds at WhiteOak Capital Asset Management Limited with an AUM of approximately ₹11,159 Cr

Ramesh Mantri

Co-Portfolio Manager

Mr. Ramesh Mantri has experience of 23 years. Manages 52 funds at WhiteOak Capital Asset Management Limited with an AUM of approximately ₹11,159 Cr Holds a M.B.A. degree.

Trupti Agrawal

Co-Portfolio Manager

Trupti Agrawal has experience of 4 years. Manages 50 funds at WhiteOak Capital Asset Management Limited with an AUM of approximately ₹11,159 Cr

Dheeresh Pathak

Co-Portfolio Manager

Mr. Dheeresh Pathak has experience of 19 years. Manages 50 funds at WhiteOak Capital Asset Management Limited with an AUM of approximately ₹11,159 Cr Holds a B.Com degree.

Ashish Agrawal

Co-Portfolio Manager

Ashish Agrawal has experience of 1 years. Manages 48 funds at WhiteOak Capital Asset Management Limited with an AUM of approximately ₹11,159 Cr

Ramesh Mantri

Co-Portfolio Manager

Mr. Ramesh Mantri has experience of 23 years. Manages 52 funds at WhiteOak Capital Asset Management Limited with an AUM of approximately ₹11,159 Cr Holds a M.B.A. degree.

CW Expert Take

WhiteOak Capital brings focused expertise to banking and financial services investing. Their investment philosophy centers on rigorous fundamental research to identify quality franchises across market cycles. The fund house maintains disciplined risk frameworks while actively managing concentrated portfolios, reflecting deep sector knowledge and credit assessment capabilities.

Firm Overview

Total AUM₹29,798.08 Cr

Investment Philosophy & Approach

Disciplined Approach

The fund house follows a disciplined investment approach focused on rigorous research.

Risk Management

Strong risk management culture with emphasis on portfolio diversification and downside protection.

Long-Term Perspective

Adopts a long-term perspective in capital allocation across market cycles.

Operational & Regulatory Details

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

Costs and Fees

Total Expense Ratio (TER)2.51%

Exit Load1

Regulatory & Tax Information

INF03VN01852

ISIN

DailyDealing Frequency

Nifty Financial Services TR INRBenchmark

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

STCG | <1Year 20%%

Tax Implications (India)