WhiteOak Capital Multi Cap Fund

Diversified

Equity

India Super Value

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 Multi Cap Fund Growth invests across all company sizes in India for flexible growth.

What This Strategy Does

WhiteOak Capital Multi Cap Fund Regular Growth is an equity flexi-cap fund which captures India's ₹200 trillion consumption and private capex opportunity through a multi-cap, quality-momentum approach, deploying capital across financials, industrials, and consumer sectors to achieve broad-based earnings growth.

CW Expert Research Notes

Consistent Outperformance

The fund has demonstrated resilient benchmark-relative behavior, outperforming its Nifty 500 Multicap 50:25:25 TR INR benchmark in 1 out of the past 12 years, while delivering superior downside protection characteristics through its quality tilt.

Momentum-Driven Construction

The fund's investment process differentiates itself through a consistent overweight to high-momentum stocks, complemented by a quality bias favoring low financial leverage and strong profitability, resulting in a portfolio expressing conviction in sectors like real estate and financial services.

Cyclical Upside Potential

With a relatively inexpensive valuation versus history and an overweight to sectors poised to benefit from the domestic capex cycle revival and earnings revisions, the fund could participate strongly in the next market upswing, although high volatility exposure poses downside risks.

Performance and Risk Analysis

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

Fund Performance

1.7% AnnuallyAlpha

+0.0% vs +0.0% benchmarkSince Inception

+0.0% vs +0.0% benchmark3Y Annualized

+0.0% vs +0.0% benchmark5Y Annualized

WhiteOak Capital Multi Cap Fund

Benchmark Index

Benchmark Performance Comparison

Whiteoak Capital Multi Cap Fund

NIFTY 50

Risk Profile

Standard Deviation11.3%

Maximum Drawdown-18.9% | Oct 2024

Sharpe Ratio1.08

Beta0.89

Upside Capture98%

Detailed Risks

Market Risk

Potential recession risks amid slowing global growth could trigger earnings downgrades, impacting portfolio holdings.

Liquidity Risk

High mid-cap exposure could face liquidity stress during market sell-offs, hindering rebalancing.

Concentration Risk

Concentrated sector bets like financials face asset quality risks from rising rates.

Specific Strategy Risk

Regulatory changes to capital norms could impact bank holdings' profitability and growth.

Strategy Details

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

Core Investment Theme

Delivers flexibility that matters during market transitions. By investing across capitalizations without constraints, this approach allows fund managers to rotate capital toward the best risk-reward opportunities—whether that's defensiveness in large caps during uncertainty or growth capture in smaller companies during expansions. This adaptability can smooth portfolio returns across varying market conditions.

Broader Market View

Market Outlook

With equity markets appearing to normalize after the recent correction, the present environment offers an attractive entry point as consumption and earnings recover. Macro tailwinds such as reviving capex and credit growth align with the strategy's tilt towards consumer, financial services, and technology sectors, though competitive pressures and cyclicality pose risks.

Why This Strategy is Attractive Now

The strategy appears well-positioned, with exposure to market leaders across consumer cyclicals/defensives, financials, and technology. Its balanced approach combines growth opportunities and defensive positioning, while moderate beta and diversification across around 70 holdings suggest a risk-adjusted stance aligned with the current market cycle phase.

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 appears well-positioned to capitalize on secular trends while providing a degree of defensive characteristics.

High-Level Investment Process

Sourcing: The strategy appears to source investment ideas through a bottom-up, fundamental research process focused on identifying companies with sustainable competitive advantages, strong management teams, and attractive growth prospects. Selection: The selection process suggests a preference for companies with consistent profitability, healthy balance sheets, and the ability to generate free cash flow across market cycles. Construction: Portfolio construction is consistent with a focus on diversification across sectors and market capitalizations while maintaining a bias towards quality growth characteristics.

Portfolio Holdings Overview

SectoralAllocation

Consumers18.26%

Capital Goods19.05%

Utilities1.25%

Technology4.96%

Financial Services31.57%

Energy & Infra10.11%

Services14.8%

Geographic Allocation

Domestic100%

Top Stock Holdings

CompanySectorAllocation

Clearing Corporation Of India LtdUtilities6.12%

ICICI Bank LtdFinancial Services4.76%

HDFC Bank LtdFinancial Services4.42%

Nexus Select Trust ReitsEnergy & Infra2.02%

Max Financial Services LtdFinancial Services1.90%

Bharti Hexacom LtdServices1.72%

Eternal LtdConsumers1.70%

State Bank of IndiaFinancial Services1.67%

Bank Nifty IndexUtilities1.56%

Muthoot Finance LtdFinancial Services1.52%

Fund House Management

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

Fund Manager Track Record

Trupti Agrawal

Trupti Agrawal has experience of 4 years. Manages 48 funds at WhiteOak Capital Asset Management Limited with an AUM of approximately ₹11,159 Cr

66 years

Combined Team Experience

₹ 56,369 Cr

Assets Under Management

Ashish Agrawal

Co-Portfolio Manager

Ashish Agrawal has experience of 1 years. Manages 46 funds at WhiteOak Capital Asset Management Limited with an AUM of approximately ₹11,159 Cr

Piyush Baranwal

Co-Portfolio Manager

Mr. Piyush Baranwal has experience of 18 years. Manages 84 funds at WhiteOak Capital Asset Management Limited with an AUM of approximately ₹11,733 Cr Holds a PGDBM degree.

Dheeresh Pathak

Co-Portfolio Manager

Mr. Dheeresh Pathak has experience of 19 years. Manages 48 funds at WhiteOak Capital Asset Management Limited with an AUM of approximately ₹11,159 Cr Holds a B.Com degree.

Ramesh Mantri

Co-Portfolio Manager

Mr. Ramesh Mantri has experience of 23 years. Manages 50 funds at WhiteOak Capital Asset Management Limited with an AUM of approximately ₹11,159 Cr Holds a M.B.A. degree.

Ashish Agrawal

Co-Portfolio Manager

Ashish Agrawal has experience of 1 years. Manages 46 funds at WhiteOak Capital Asset Management Limited with an AUM of approximately ₹11,159 Cr

Piyush Baranwal

Co-Portfolio Manager

Mr. Piyush Baranwal has experience of 18 years. Manages 84 funds at WhiteOak Capital Asset Management Limited with an AUM of approximately ₹11,733 Cr Holds a PGDBM degree.

Dheeresh Pathak

Co-Portfolio Manager

Mr. Dheeresh Pathak has experience of 19 years. Manages 48 funds at WhiteOak Capital Asset Management Limited with an AUM of approximately ₹11,159 Cr Holds a B.Com degree.

Ramesh Mantri

Co-Portfolio Manager

Mr. Ramesh Mantri has experience of 23 years. Manages 50 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 Multi Cap Fund operates with a style-agnostic approach, seeking mispriced opportunities across market caps. Their investment process emphasizes fundamental research and portfolio construction that balances growth and quality factors. The fund house maintains disciplined risk management frameworks while actively managing sector exposures and stock-specific positions.

Firm Overview

Total AUM₹29,798.08 Cr

Investment Philosophy & Approach

Disciplined Approach

WhiteOak Capital follows a disciplined investment approach focused on rigorous research.

Risk Management

The fund house emphasizes robust risk management through diversification and prudence.

Long-Term Perspective

WhiteOak Capital maintains a long-term perspective in capital allocation decisions.

Operational & Regulatory Details

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

Costs and Fees

Total Expense Ratio (TER)1.94%

Exit Load1

Regulatory & Tax Information

INF03VN01795

ISIN

DailyDealing Frequency

Nifty 500 Multicap 50:25:25 TR INRBenchmark

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

STCG | <1Year 20%%

Tax Implications (India)