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April 25, 2022

WhiteOak Capital Asset Management to scale up footprint across India

WhiteOak Capital Asset Management is planning to expand its footprint across India by opening nearly 100 branches, the PTI has reported.

The new branches will be opened across 80 cities in the next 12 to18 months.

The firm, which specialises in investment management and advisory services, currently has 40 branches in 30 cities including Varanasi, Jaipur, Amritsar and Dehradun.

WhiteOak, which recently entered into the mutual fund space with the acquisition of Yes MF, is also set to roll out six different mutual fund offerings.

These include a flexi-cap fund, an emerging markets fund, a large-cap fund, a mid-cap fund, and an equity-linked saving scheme (ELSS), according to WhiteOak Capital Asset Management chief business officer Prateek Pant.

WhiteOak has already filed offer documents with the Securities and Exchange Board of India (SEBI) for its mutual fund schemes and expects to launch them following the receipt of regulatory approval.

The firm’s investment team of 30 employees will primarily focus on active funds as it sees significant scope for such funds.

Pant cites the growing base of new entrants, the need for simplification of investing and the government’s decision to disinvest through exchange-traded funds (ETFs), and the regulatory push to segregate the cost of fund management and cost of advice or distribution among the reasons for the firm’s focus on active funds.

WhiteOak aims to develop a multi-modal presence and build its own digital interface, he added.

The firm also plans to bolster its digital presence through multiple fintech companies and stockbroking firms in a bid to expand the reach of its product and differentiated content amongst investors.

Recently, US-based private investment firm Bain Capital signed a deal to take a 24.98% equity stake in India-based IIFL Wealth Management.

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