4 hours Ago
WhiteOak Capital Mutual Fund has announced the launch of its new fund offer (NFO) - the ‘WhiteOak Capital Digital Bharat Fund’. This open-ended equity scheme will primarily invest in technology and technology-related companies. The NFO will close on October 4, 2024.
Investment focus The Digital Bharat Fund aims to provide long-term capital appreciation. It will predominantly invest in equity and equity-related instruments within the technology sector. This fund seeks to capitalise on the rapid advancements in digital technology transforming various sectors in India.
Growth of digital economy India's digital landscape is evolving rapidly. New-age businesses leverage technology to enhance innovation and inclusivity. Fintech firms are revolutionising access to financial services, while e-commerce platforms are making products accessible even in remote areas.
Despite their growth, these businesses lack adequate representation in traditional indices and investor portfolios, creating a unique investment opportunity. Aashish Somaiyaa, CEO of WhiteOak Capital Asset Management Limited, highlighted the growing investor appetite for thematic funds. He noted that many investors gravitate toward cyclical themes that have performed well recently.
“While the market focuses on trends that are already hot, our aim with the Digital Bharat Fund is to invest in sustainable long-term themes,” Somaiyaa stated. Ramesh Mantri, CIO of WhiteOak Capital, emphasised the importance of technological advancements in various sectors, including healthcare and agriculture. He stated, “The Digital Bharat Fund will focus on Indian technology companies and the ongoing digital transformation in India, aiming for long-term wealth generation.
” Fund allocation strategy The fund's portfolio will allocate: 80%–100% in equity and equity-related instruments of technology and technology-related companies. 0%–20% in equity and equity-related instruments of other companies. 0%–20% in debt securities and money market instruments.
0%–10% in units issued by REITs and InvITs. The scheme is benchmarked against the BSE Teck TRI. Management team The Digital Bharat Fund will be managed by: Ramesh Mantri (Equity) Trupti Agarwal (Assistant Fund Manager, Equity) Dheeresh Pathak (Assistant Fund Manager, Equity) Piyush Baranwal (Debt) Should one invest? Investors looking for long-term capital appreciation, particularly in the technology sector, may find this fund appealing.
However, as with any investment, it’s crucial to consider individual risk tolerance and investment goals..
