WhiteOak Capital Asset Management has opened a new fund offer for the WhiteOak Capital DiversifiedEquity Small Cap Active FOF, a fund of funds investing in small cap equity schemes rather than sharesdirectly. The NFO opened on 28-09-2026. A closing date had not been announced at the time of writing, so check WhiteOak Capital’s website before applying.
WhiteOak Capital Asset Management Limited runs the scheme, its first fund of funds. The aim is long term capital appreciation, built by combining several small cap schemes rather than one in house portfolio.
The launch may interest investors wanting multiple small cap fund managers in one folio. Instead of buying several funds separately, one scheme handles selection, entry starting at Rs 500.
WhiteOak Capital Diversified Equity Small Cap Active FOF: NFO Details
Field | Details |
Fund Name | |
Fund type | Open ended fund of funds |
Category | Equity oriented FOF (Domestic), diversified |
Nature of scheme | Predominantly small cap scheme units |
Benchmark | Nifty Smallcap 250 TRI |
Fund managers | Ashish Agrawal, Bhavin Patadia, Nikunj Sampat |
NFO opens | 28-09-2026 |
NFO closes | Not available |
Indicated allotment date | 12-10-2026 |
Minimum investment | Rs 500 (NFO), Rs 100 (ongoing) |
Additional investment | Rs 100 |
SIP amount | Rs 100 (daily/weekly/fortnightly/monthly); Rs 500 (quarterly) |
NAV | Rs 10 per unit |
Stamp duty | 0.005% of transaction value |
Entry load | Nil |
Exit load | 1% within 1 year, nil after |
WhiteOak Capital Asset Management: AMC Details
Field | Detail |
AMC name | WhiteOak Capital Asset Management Limited |
Assets under management | ₹1,20,077 Cr |
Website | |
Registered office | Unit No. B, 1st Floor, Cnergy, Appasaheb Marathe Marg, Prabhadevi, Mumbai 400025 |
Contact number | 1800-266-3060 (toll free) |
Source: AMFI India: New fund offer: WhiteOak Capital Diversified Equity Small Cap Active FOF
What Has WhiteOak Capital Launched?
WhiteOak Capital Asset Management has filed for an open ended new fund offer, a fund of funds, its first under this structure. A fund of funds does not buy company shares directly; it buys units of other schemes, which hold the actual shares.
The underlying investments are equity oriented small cap schemes: funds investing mainly in small, growingcompanies. The scheme can put 95% to 100% of assets into these units, the rest in debt or cash for day to day flows.
The fund managers choose which schemes to hold, how much to allocate each, and when to change the mix, drawing mainly on WhiteOak Capital’s own schemes, with no promise the goal will be met.
How Does the Strategy Work?
The mechanics sit a layer removed from a typical equity scheme: money is pooled, and the fund managers spread it across several small cap schemes rather than individual stocks.
Step | What happens? |
1 | Investors put money in during the NFO, or later on any business day |
2 | Fund managers screen small cap schemes on valuation, process and track record |
3 | Money is allocated across chosen schemes, building a multi manager portfolio |
4 | Overlap between schemes is tracked to avoid duplication |
5 | Allocations are rebalanced as valuations or performance shift |
6 | The FOF’s NAV moves with the value of units it holds |
7 | Redemptions are paid at the FOF’s own NAV, not any scheme’s |
Let’s Understand Through an Example
Say an investor puts Rs 10,000 into this FOF during the NFO. That money joins the pooled corpus, dividedacross several small cap schemes based on each one’s valuation and diversification benefit. If Scheme Alooks attractively priced, it might get a larger slice than Scheme B. As assessments change, the mix can shift, and the investor holds one FOF unit throughout, never needing to track or rebalance the underlying schemes.
Portfolio Allocation
Instrument | Minimum | Maximum |
Units of equity oriented small cap mutual fundschemes | 95% | 100% |
Debt, money market instruments, governmentsecurities, treasury bills, TREPS and cash | 0% | 5% |
As this is a new scheme, no portfolio has been built yet; this table reflects the SID’s allocation band, not an actual holding today.
Investment Strategy
Since the FOF does not pick individual stocks, its edge lies in scheme selection, not security selection, and it is not built like an index fund: relative valuations, the market cycle, track record, portfolio overlap, and sector opportunities all factor in.
Worth flagging plainly: costs stack here. The FOF charges its own expense ratio, and each scheme charges its own too, published once the first NAV is out.
On liquidity, this scheme is not listed; units are bought and sold at the FOF’s own NAV, calculated once a day, unlike an exchange traded fund.
Potential Benefits
Potential benefit | Why does it matter? |
Access to several small cap schemes via one folio | Saves researching and tracking multiple funds separately |
Professional scheme selection | Fund managers decide what to hold and when to change |
Diversification across fund managers | Reduces dependence on any single manager’s calls |
Low entry point | Minimum Rs 500 during the NFO, SIPs from Rs 100 |
Single consolidated statement | One folio to track instead of several across AMCs |
Key Considerations for Investors
Consideration | What it means |
Two layers of cost | The FOF’s expense ratio sits atop each scheme’s own |
Small cap volatility | Small, growing companies can swing more sharply |
No track record yet | A new scheme with no history or built portfolio yet |
Dependent on underlying managers | Returns depend on every scheme’s own stock picking too |
Exit via NAV, not the exchange | Units are unlisted; investors redeem at the daily NAV |
Concentrated in one segment | Small cap only, not large or mid cap companies |
Who May Consider This Fund?
Investor type | Why it may fit |
Long term goal investors (7 yearsplus) | Small cap allocations suit longer horizons |
Investors wanting small cap exposure without picking one fund | The FOF spreads manager selection acrossschemes |
First time investors starting small | Rs 500 minimum and SIPs from Rs 100 |
Investors already holding large ormid cap funds | This FOF can add a small cap layer |
Who May Not Find It Suitable?
Investor type | Why it may not fit |
Investors with a goal inside 3 to 5years | Small cap portfolios need a longer runway |
Investors who judge funds by past performance | A new scheme with no NAV history yet |
Investors who want to pick their own schemes | Here, the fund managers make that call instead |
Investors seeking a single layer, low cost structure | The two layer cost may not suit them |
Comparison With Traditional Investment Options
Feature | FixedDeposit | Debt Fund | Hybrid Fund | Equity Fund | This New Fund |
Return potential | Fixed | Moderate | Mod to high | High | High |
Volatility | None | Low-mod | Moderate | High | High |
Liquidity | Limitedpre-maturity | High | High | High | High |
Horizon | Short- medium | Short- medium | Medium-long | Long term | Long term |
Suitable investor | Capital protection | Steady returns | Equitydebt mix | Equityswings ok | Diversified small cap |
This is descriptive only, not a ranking; the right mix depends on an investor’s goals and portfolio.
WhiteOak Capital Diversified Equity Small Cap Active FOF Review by Zenith Finserve
This FOF suits investors who want small cap exposure but would rather let a fund manager choose among schemes than pick one themselves, fitting goals dated 2033 or later.
The two layer cost structure is worth understanding before applying: an investor pays WhiteOak Capital toselect and monitor other schemes, on top of what each already charges, fair for genuine diversification, though the total cost is clear only once both layers are published.
Since the scheme is new, has no portfolio yet, and sits entirely in small cap, it works best as one part of a wider portfolio, weighed against existing exposure and horizon.
How Zenith Finserve Can Help
At Zenith Finserve, we follow a process driven investment framework. We assess your goals, cash flows, risk profile, time horizon, existing investments, loans and tax situation before suggesting investments. We align our investment suggestions with your financial objectives and review them periodically to keep them suitable as your circumstances change.
See more about Zenith Finserve and our guide to comprehensive financial management.
Similar NFOs on Zenith
- WhiteOak Capital Dividend Yield Fund NFO: Details and Review: an earlier WhiteOak Capital launch, built around dividend paying large companies.
- Kotak Multi Sector Omni FOF NFO: Details and Review: another fund of funds, spread across sectors, not small caps.
- AlphaGrep Liquid Omni FOF NFO: Details and Review: a fund of funds at the low volatility end, a useful contrast to this launch.
- TRUSTMF Large & Mid Cap Fund NFO: Dates, Details & Review: an equity NFO one market cap segment up from this small cap launch.
WhiteOak Capital Diversified Equity Small Cap Active FOF: FAQs
1. What is the WhiteOak Capital Diversified Equity Small Cap Active FOF?
A new fund of funds investing in small cap equity schemes, not stocks directly.
2. When does the NFO open and close?
It opened on 28-09-2026. A closing date had not been announced at the time of writing.
3. What is the minimum investment?
Rs 500 during the NFO, Rs 100 once it reopens.
4. Can I start a SIP in this fund?
Yes, from Rs 100 for daily, weekly, fortnightly or monthly, and Rs 500 quarterly.
5. What does this FOF invest in?
95% to 100% in small cap scheme units, the rest in debt or cash.
6. Who manages this FOF?
Ashish Agrawal, Bhavin Patadia and Nikunj Sampat, none with a track record here yet.
7. What is the benchmark?
The Nifty Smallcap 250 TRI.
8. Is this FOF good to invest in?
That depends on an investor’s own goals and portfolio; this explains how it works, not a recommendation.
9. What is the exit load?
1% of NAV within 1 year of allotment, nil after.
10. Is this fund listed on a stock exchange?
No. Investors buy and redeem at its own NAV, like any open ended fund.
