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White OAK India Pioneers Equity Portfolio

About White Oak Capital Management

White Oak Capital Management is one of the biggest India-focused long-only boutique Investment management and advisory firm, founded in 2017 by Mr. Prashant Khemka, who was a former CIO and Lead Portfolio Manager of India Equity and Global Emerging Markets Equity at Goldman Sachs Asset Management. White Oak has developed a process based investing framework to ensure the best in class stock selection is practiced. White oak has one of the largest and most capable in-house research team in the Industry. White Oak manages close to USD 2.7 billion in Indian Equities.

Key People

Mr. Prashant Khemka
Mr. Prashant Khemka Founder

Investment Objective

The objective of this portfolio is to generate sustained capital appreciation through superior returns over time with a long-only balanced & well diversified investment approach of select companies agnostic to benchmark S&P BSE 500

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 Pioneers Equity Portfolio 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 of this fund follows strong investment values via long-only fundamental bottom-up stock selection. They have a simple yet powerful investment philosophy of investing in businesses based on stock selection, rather than being driven by macro factors.

At White Oak, they believe outsized returns are earned over time by investing in great businesses at attractive values, i.e. growth at reasonable prices. A great business is one that is well managed, scalable, and generates superior returns on incremental capital.

A disciplined analytical process along with a balanced portfolio construction delivers tangible returns with a long-term focus on alpha.

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 Pioneers Equity1.46%4.95%12.25%26.13%18.06%12.37%18.03%-18.39%
BSE 500 TRI0.83%5.19%17.75%34.70%23.27%18.07%18.03%-17.12%

QRC Report Card *




VIEW DETAILED QUALITY, RISK, CONSISTENCY ANALYSIS

Portfolio Holdings


Holding %
ICICI BANK LTD 6.90
HDFC BANK LTD 4.10
STATE BANK OF INDIA 4.00
TATA CONSULTANCY SERVICES LTD 3.90
NESTLE INDIA LTD 3.40

Sector Allocation


Holding %
Financials 30.90
Consumer Disc 14.90
Industrials 14.50
Health Care 11.30
Information Tech 10.20

Market Cap Allocation


Allocations %
Large Cap 60.70
Mid Cap 17.60
Small Cap 19.80
Cash 1.90

Do Not Simply Invest, Make Informed Decisions

WISH TO MAKE INFORMED INVESTMENTS FOR LONG TERM WEALTH CREATION

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From the Founders & Managers of White Oak Capital Management PMS

What to expect from White Oak India Pioneers Equity Portfolio PMS?

  • The objective of the strategy is to achieve long term capital appreciation by primarily investing in ‘listed securities’ in India. The investment strategy is long only with a bottom-up stock selection approach. The investment philosophy is, that outsized returns are earned over time by investing in great businesses at attractive values. A great business, in our 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.

Who should invest in White Oak India Pioneers Equity Portfolio PMS?

This product is most suitable for Onshore Indian family offices & HNIs who want to invest in Indian equity markets with an aim to generate consistent alpha over the long-term.

Which is the best company through which an investor can invest in White OAK India Pioneers Equity Portfolio?

We recommend PMS AIF WORLD, because, it is one unique platform that offers real knowledge driven investing with their highly meaningful data, reports, and content that is written very well. PMS AIF World is a team of highly articulate, educated, and experienced people.

Disclaimer

#Returns as of 31 May 2024. Returns up to 1 Year are absolute, above 1 Year are CAGR.

*QRC Report Card data is updated quarterly. Current data is as of Mar 23.


Do Not Simply Invest, Make Informed Decisions

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