WhiteOak Capital MF Launches 2 Thematic Fund Offers

Both the two funds by are open-ended equity schemes

Aashish P Somaiyaa, CEO, WhiteOak Capital Asset Management

FinTech BizNews Service   

Mumbai, January 16, 2024: WhiteOak Capital Mutual Fund today announced the launch of two new thematic fund offers - the ‘WhiteOak Capital Banking & Financial Services Fund’ and ‘WhiteOak Capital Pharma and Healthcare Fund’. Both the NFOs open today 16th January, 2024 and will close on 30th January, 2024.  The two funds by WhiteOak Capital Mutual Fund are open-ended equity schemes. WhiteOak Capital Banking & Financial Services Fund seeks to invest predominantly in Banks, NBFCs and companies engaged in the broader financial services sector including but not limited to insurance companies, asset management companies, capital market intermediaries, market infrastructure, fintechs etc., while the WhiteOak Capital Pharma and Healthcare Fund intends to invest primarily in Pharma and Healthcare companies.

Aashish P Somaiyaa, CEO, WhiteOak Capital Asset Management said, “WhiteOak Capital is uniquely positioned to offer thematic funds because of its large research team comprising a deep bench of seasoned professionals providing width as well as depth of coverage. We have launched these two thematic schemes to provide investors with an opportunity to invest in key growth themes in the Indian equity market in years to come. BFSI remains under-penetrated but the JAM Trinity - Jan Dhan, Aadhaar, and Mobile - has been a key enabler in transforming the digital landscape in India as applied to banking and financial services. We are witnessing demographics being actualized as seen in a wide and increasing base of new customers and investors. Reforms over the years have resulted in the Indian banking sector’s profitability and balance sheet being at its healthiest in a decade. On the other hand, Healthcare has emerged as one of the prominent themes in India with S&P BSE Healthcare Index market cap being at 19.7 Tn as of Dec’23. We believe that the Healthcare theme with multiple sub-sectors has the highest alpha potential due to wide heterogeneity of businesses within and the WhiteOak team is uniquely positioned to exploit the same and deliver in investors’ portfolios. While these themes have potential for wealth creation over the long term, even at this juncture, for participating in equities at current levels, these themes provide margin of safety and potential for absolute as well as relative performance.”

Prateek Pant, CBO, WhiteOak Capital Asset Management also added, “Over the last 18 months, WhiteOak Capital has launched a range of Equity and Hybrid products to provide investors a choice to participate in long term wealth creation. Both these thematic offerings are an opportunity to be a part of a longer-term structural theme. This represents a fundamental view of an investment or market trend based on a deep analysis of macroeconomic, demographic, technological, or other fundamental factors that are expected to shape the market over an extended period.”

About the WhiteOak Capital Banking & Financial Services Fund

The primary objective of the WhiteOak Capital Banking & Financial Services Fund is to provide long-term capital appreciation by investing predominantly in equity and equity-related instruments of banks and companies engaged in the Financial Services Sector. 80%- 100% of total net assets of this fund will comprise of equity and equity-related Instruments of Banks & companies engaged in the financial services sector and up to 20% allocation will be in equity and equity-related instruments of other companies.  Allocation in debt securities and money market instruments will be between 0% - 20% and for units issued by REITs and InvITs between 0% - 10%. The fund is benchmarked against Nifty Financial Services Total Return Index (TRI).

During Mar’04 to Sep’23, Nominal GDP of India grew at 12.7% CAGR, Nifty 50 TRI grew at 14.6% CAGR while Nifty Financial Services TRI showed 17.6% CAGR. This data suggests that Financial Services is growth as led the performance of broader markets. 

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