WhiteOak Capital Launches First FoF With Focus on Active Small-Cap Funds

Key Takeaways

• WhiteOak Capital Diversified Equity Small Cap Active FoF is the fund house's first fund-of-funds offering.
• The NFO opened on September 28 and closes on October 12, 2026, with a minimum investment of ₹500.
• Instead of directly selecting small-cap stocks, the scheme will predominantly invest in units of equity-oriented small-cap mutual fund schemes.

WhiteOak Capital Mutual Fund has entered the fund-of-funds segment with the launch of WhiteOak Capital Diversified Equity Small Cap Active FoF, a scheme designed to invest across actively managed small-cap mutual funds.

The NFO opened on September 28 and will remain available for subscription until October 12, 2026.

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The minimum subscription amount is ₹500, with subsequent investments permitted in the prescribed multiples.

This is WhiteOak Capital Mutual Fund's first fund-of-funds offering.

How The Structure Differs From A Small-Cap Fund

The scheme does not primarily build a portfolio by purchasing small-cap company shares directly.

Instead, it will predominantly invest in units of equity-oriented small-cap mutual fund schemes. This creates a multi-manager structure in which the underlying stock exposure is determined by the portfolios of the funds selected by the FoF.

The stated investment objective is to generate long-term capital appreciation by investing in these underlying schemes. Achievement of that objective is not assured.

The fund will be benchmarked against the Nifty Smallcap 250 TRI and will be managed by Ashish Agrawal, Bhavin Patadia and Nikunj Sampat.

An exit load of 1% applies when units are redeemed or switched out within one year from allotment, while no exit load applies after one year, according to the reported scheme terms.

Although the FoF spreads its investments across underlying small-cap schemes, its ultimate portfolio remains exposed to the risks associated with the small-cap equity universe.

The structure also differs operationally from holding a conventional small-cap fund because investors own units of the FoF, which in turn owns units of other mutual fund schemes.