WhiteOak Capital Asset Management to Expand Footprint Across India

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WhiteOak Capital Asset Management plans to expand its presence across India by opening nearly 100 branches, the PTI reported.

The new branches will be opened in 80 cities over the next 12 to 18 months.

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

WhiteOak, which recently entered 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 savings scheme (ELSS) , according to the chief commercial officer of WhiteOak Capital Asset Management, Prateek Pant.

WhiteOak has already filed offering documents with the Securities and Exchange Board of India (SEBI) for its mutual funds and plans to launch them after obtaining regulatory approval.

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

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

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

The company also plans to strengthen its digital presence through several fintech companies and stock exchanges in an effort to broaden the reach of its product and differentiated content among investors.

Recently, the American private investment company Bain Capital signed an agreement to take a 24.98% stake in the Indian company IIFL Wealth Management.

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