WhiteOak Capital to expand with 100 new branches in next 12-18 months


WhiteOak Capital Asset Management, an investment management and advisory firm, is foraying into the mutual fund space with plans to open around 100 branches across the country in the coming 12 to 18 months.

Prateek Pant, Chief Business Officer at WhiteOak Capital Asset Management, told that the firm has arranged six different mutual fund products with a Flexi-cap fund, trailed by a large-cap fund, an evolving markets fund, a mid-cap fund, and an ELSS (equity-linked saving scheme).

Already, the firm has filed an offer document with SEBI for six schemes of mutual funds and is planning to unveil them as soon as the regulator approves the same.

While talking about its strategy related to the new funds, Mr. Pant said that WhiteOak would focus mainly on the active funds as the firm believes that such funds offer many opportunities. Furthermore, it will leverage the expertise of its strong team, which includes 30 members.

The regulatory shoves on segregating the cost of fund management and cost of advice/distribution, institutional preference, and a push to advisory practice, huge number of new applicants that are digital-first, and a need for simplifying investing, among others are some of the reasons for focusing on active funds, he added further.

The asset management company has faith in multi-modal occurrence and plans to build its digital interface. It possesses a solid digital presence via several fintech companies and stockbroking firms to ensure that the segregated content and product reach investors.

Moreover, WhiteOak, which already has empaneled distributors, plans to open around 100 branches in 80 cities in the coming 12 to 18 months. Currently, the firm has around 40 branches in 30 cities, including Varanasi, Dehradun, Jaipur, and Amritsar.

Source Credit - https://www.business-standard.com/article/companies/whiteoak-capital-asset-management-plans-to-open-100-branches-in-12-18-mnths-122042400234_1.html