WhiteOak Capital Mutual Fund raises Rs 550 crore for first NFO

WhiteOak Capital Asset Management announced on Thursday that it has raised almost Rs 550 crore during the new fund offering period (NFO) of its first equity fund – WhiteOak Capital Flexicap Fund.

The fund aims to build an active, well-diversified portfolio, representing a cross-section of companies from major industries, economic sectors and market capitalization segments, WhiteOak said in a statement.

The NFO has appealed to investors in India and abroad, and this is reflected in its well-diversified customer base.

Despite volatile market conditions and a nearly 40% decline in stock inflows last month, the fund has garnered considerable interest from investors and intermediaries, the company said.

Approximately 25,000 unique investors across more than 350 locations participated in this Flexicap fund offering.

“WhiteOak Capital Group has 5 years of performance experience for global investors through offshore offerings, as well as domestic HNIs (high net worth individuals) and family offices through PMS (portfolio management services) and AIF (alternative investment fund)” said Aashish P Somaiyaa, CEO of WhiteOak Capital Asset Management.

WhiteOak Capital Group provides investment management and advisory services for equity assets of over Rs 40,000 crore.

(Only the title and image of this report may have been edited by Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)

Dear reader,

Business Standard has always endeavored to provide up-to-date information and commentary on developments that matter to you and that have wider political and economic implications for the country and the world. Your constant encouragement and feedback on how to improve our offering has only strengthened our resolve and commitment to these ideals. Even in these challenging times stemming from Covid-19, we remain committed to keeping you informed and updated with credible news, authoritative opinions and incisive commentary on relevant topical issues.
However, we have a request.

As we battle the economic impact of the pandemic, we need your support even more so that we can continue to bring you more great content. Our subscription model has received an encouraging response from many of you who have subscribed to our online content. More subscriptions to our online content can only help us achieve the goals of bringing you even better and more relevant content. We believe in free, fair and credible journalism. Your support through more subscriptions can help us practice the journalism we are committed to.

Support quality journalism and subscribe to Business Standard.

digital editor

Dolores W. Simon