(PTI) WhiteOak Capital Mutual Fund, the new entrant to the mutual fund space, on Thursday announced the launch of its first new fund offering WhiteOak Capital Flexi Cap Fund.
It is an open-ended dynamic equity scheme investing across large, mid, and small-cap stocks.
The New Fund Offering (NFO) will open on July 12 and close on July 26. The minimum investment that can be made in the fund is ₹500, the fund house said in a statement.
The key objective of the scheme is to generate long-term wealth for investors by investing across the market capitalisation spectrum. The fund aims to build an active, well-diversified portfolio, representing a cross-section of companies across major industries, economic sectors, and market cap segments.
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What is an NFO?
When an asset management company (AMC) or a mutual fund announces a new scheme to raise capital, they launch an NFO. It allows the public to invest in the pool for the first time. The money raised is mainly used to invest in securities like bonds and equity.
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The exit load of 1 per cent on the New Asset Value (NAV) will be applicable only if the units are redeemed within one month from the date of allotment and 'nil' thereafter. Prateek Pant, Chief Business Officer of WhiteOak Capital Mutual Fund, said the fund house aims to launch a range of funds over the next year-and-a-half.
"We will cover India well beyond the metro cities, including B30 locations, to achieve higher inclusivity through omni-channel presence across physical, virtual and digital channels," he added.
White Oak Capital group, which provides investment management and advisory services for equity assets of over ₹40,000 crore, recently entered the mutual fund space by acquiring Yes MF.
Pursuant to completion of transaction in November 2021, the name of YES Asset Management was changed to WhiteOak Capital Asset Management and YES Mutual Fund into WhiteOak Capital Mutual Fund in January this year.
The group is founded by Prashant Khemka, formerly CIO of Goldman Sachs Asset Management's India Equity and Global Emerging Markets Equity businesses.
