WhiteOak Capital Mutual Fund collects Rs 550 crore for maiden NFO

WhiteOak Capital Asset Management on Thursday said it has collected nearly Rs 550 crore during the new fund offer (NFO) period of its maiden equity fund -- WhiteOak Capital Flexicap Fund.

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, WhiteOak said in a statement.

The NFO has appealed to investors in India and internationally, and the same is reflected in its well-diversified client base.

Despite volatile market conditions and a near 40 per cent decline in equity inflows last month, this fund garnered significant interest from investors and intermediaries alike, the company said.

Around 25,000 unique investors across over 350 locations participated in this Flexicap Fund offering.

"WhiteOak Capital Group has a 5-year history of having delivered performance to global investors through offshore offerings as also to domestic HNIs (high networth individuals) and family offices through the PMS (portfolio management services) and AIF (alternative investment fund)," said Aashish P Somaiyaa, CEO, WhiteOak Capital Asset Management.

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