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WhiteOak Capital Mutual Fund announced the launch of the WhiteOak Capital Multi Asset Allocation Fund, an open-ended index scheme that provides long-term capital appreciation and generates income by investing in instruments across multiple asset classes, viz., equity, debt, and gold/silver-related instruments.
The scheme opened for public subscription on May 03, 2023, and will close on May 10, 2023. The scheme re-opens for continuous sale and repurchase on May 17, 2023.
Q. What kind of mutual fund scheme is this?
This is an open-ended scheme investing in equity & equity-related instruments, debt & money market securities, and gold/silver-related instruments.
Q. What is the main objective of investing in this fund?
The investment objective of the scheme is to provide long-term capital appreciation and generate income by investing in instruments across multiple asset classes, viz., equity, debt and gold/silver-related instruments. There is no assurance that the investment objective of the Scheme will be realized.
Q. How may one invest in this scheme?
Investors can invest under the scheme with a minimum investment of ₹500 per plan/option and in multiples of Re 1. There is no upper limit for investment.
Under normal circumstances, the asset allocation of the scheme will be as follows:
| Instruments | Indicative allocations (% of total assets) | Risk Profile | |
| Minimum | Maximum | ||
| Equity and Equity Related Instruments | 10 | 80 | High |
| Debt Securities and Money Market Instruments | 10 | 80 | Low to Medium |
| Gold/silver related instruments (including ETFs, Sovereign gold deposit schemes) &Exchange Traded Commodity Derivatives (ETCDs) as permitted by SEBI from time to time | 10 | 50 | Medium to High |
| Units issued by REITs and InvITs | 0 | 10 | High |
Q. Are there similar mutual funds in the market?
To date, many asset management companies (AMCs) have launched such multi-asset allocation funds, thus, allowing inclined investors to avail of returns corresponding to the total returns of the securities in this particular index.
These include:
| Name of the fund | Returns per annum |
| Quant Multi Asset Fund | 25.58% |
| ICICI Prudential Multi Asset Fund | 19.10% |
| HDFC Multi Asset Fund | 13.80% |
| SBI Multi Asset Allocation Fund | 11.24% |
| Axis Multi Asset Allocation Fund | 11.03% |
| UTI Multi Asset Fund | 10.18% |
| Source: ET Money | |
Q. How will the scheme benchmark its performance?
The performance of the scheme will be benchmarked against the S&P BSE 500 TRI (40%) + CRISIL Composite Bond Index (40%) + Domestic prices of Gold (10%) + Domestic prices of Silver (10%). The composition of this index is in line with the investment objective of the scheme and hence it is the most suited benchmark for comparing the performance of the scheme.
Q. Are there any entry or exit loads to this scheme?
\This scheme involves no “Entry Load”, which means that investors do not have to pay anything to park their earnings in this scheme. In respect of each purchase/switch-in of units, an “Exit Load” of one per cent is payable if the units are redeemed/switched out within a month from the date of allotment. However, no “Exit Load” is payable if the units are redeemed/switched out after one month from the date of allotment.
Q. Who will manage this scheme?
Ramesh Mantri will be handling the equity aspect of the scheme while Piyush Baranwal would be looking after investments in debt securities. Vineet Narang would be the dedicated fund manager for gold or silver-related instruments while Shariq Merchant would be handling overseas investments.
Q. Does the fund contain any inherent risk?
The scheme involves “Very High Risk” as per the details mentioned in the Scheme Information Document and is best suited to investors willing to understand that their principal will be subject to very high risk only. However, investors should consult their financial advisors if they doubt whether the product is suitable for them.