White Oak India Digital Leaders Strategy


Key Portfolio Attributes

Mr. Prashant Khemka

Inception Date: January 2022

Founder's Name: Mr. Prashant Khemka

Founder's Qualification: Mr. Prashant Khemka has a BE in Mechanical Engineering from Mumbai University and an MBA in Finance from Vanderbilt University in the United States, where he received the Matt Wigginton Leadership Award for outstanding performance in Finance. He was awarded the CFA designation in 2001 and is a fellow of the Ananta Aspen Centre, India. Prashant is AA rated by Citywire based on the three year risk-adjusted performance across all funds he is managing to 31st January 2022

Founder's Experience: Total Experience-21 years, Founded White Oak Capital Management in 2017. He has an extensive investing record across India, Global Emerging Market (GEM) and the US

Portfolio Manager: Team White Oak

Investment Objective

The objective of WhiteOak India Digital Leaders Strategy is to achieve long term capital appreciation by primarily investing in ‘listed securities’ in India. The aim is to invest in companies that are emerging as leaders in the digital era by being at the forefront of innovation and technology implementation in their respective sectors.

The WhiteOak Difference

WhiteOak Capital Group has its core competence in domestic and global emerging equity markets.

WhiteOak Capital’s differentiation lies in:

• Large Investment Team

• Balanced Portfolio Construction

• Sectoral Analyst: Team within team structure

• Experienced Analysts

• Strict forensic for negative list of stocks

• Tactical Allocation to Small Caps

Investment Culture

• People: Team of Sector Experts with Global Experience

• Bottom-up Stock Selection based Philosophy

• Time Tested Process

• Balanced Portfolio Construction

• Invest in business, don’t bet on macro

• Aim to ensure performance a function of stock selection

• Disciplined Fundamental Research

Investment Process

Idea Generation

• Company visits & field work Supply chain meetings

Analysis

• Business Assessment & Financial modelling

Decision & Sizing

• Combination of business & value Compare across opportunities

Ongoing Evaluation

• Monitor value gap

Avoid misgoverned companies

• Avoid companies which engage in unethical practices or have poor accounting visibility

Investment Philosophy

The investment philosophy of White Oak India Digital Leaders Strategy is that outsized returns should be earned over time by investing in great businesses. And, a great business is one that is well managed, growing, scalable, and generates superior returns on incremental capital.

A bottom-up stock selection based Philosophy is followed which intends to buy great businesses at attractive values.

The attributes they look for are: Superior returns on investment capital, scaleable long term opportunity, strong execution and governance.

The motto is to invest in businesses, not to bet on macros as the firm believes that macros are for entertainment, so, watch them, but focus on Micros i.e. the underlying portfolio companies in terms of business earnings, and valuations [Current price at a substantial discount to intrinsic value] – this is where White Oak’s Team keeps its focus.

Hence the investment philosophy of White Oak Capital is, “Growth at reasonable prices(GARP)”.

Investment Strategy

The investment strategy is long only with a bottom-up stock selection approach. The ultimate goal is that Investment Objective outsized returns are earned over time by investing in great businesses at attractive values. A great business, in their view, is one that is well managed, scalable, and generates superior returns on incremental capital. Valuation is attractive when the current market price is at a substantial discount to intrinsic value.

Portfolio Outline

The India Opportunity Funnel: From Internet User to Buyer

 

Awards & Achievements

• In 2022, White Oak Capital India Pioneers Equity PMS was awarded the Winner as the Best PMS in the Multi Cap Category, on a 2Y Risk-Adjusted Returns. These Awards were hosted by PMS AIF WORLD, in association with IIM-Ahmedabad.

• In 2021, White Oak Capital India Equity Fund, a Long Only Cat III AIF, was awarded the winner in the Best Long Only Cat III AIF, on 3Y Absolute Returns. These Awards were hosted by PMS AIF WORLD, in association with IIM-Ahmedabad.

Performance Table #


Trailing Returns (%) 1m return 3m return 6m return 1y return 2y return 3y return 5y return 10y return Since inception return
White Oak Capital Management India Digital Leaders Strategy4.5%3.0%-7.3%-9.5%-----17.5%
BSE 500 TRI4.6%2.1%-1.1%4.2%----0.5%

Portfolio Holdings


Holding %

Sector Allocation


Holding %

Market Cap Allocation


Allocations %
Large Cap 64.3
Mid Cap 20.5
Small Cap 14.4
Cash 0.8

Do Not Simply Invest, Make Informed Decisions

WISH TO MAKE INFORMED INVESTMENTS FOR LONG TERM WEALTH CREATION

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Disclaimer

#Returns as of 30 Apr 2023. Returns up to 1 Year are absolute, above 1 Year are CAGR.


Do Not Simply Invest, Make Informed Decisions