White Oak India Business Leaders PMS is a long-only balanced investment approach of select companies agnostic to benchmark S&P BSE 200; which seeks to generate alpha through bottom-up stock selection, based on intensive fundamental research and a proprietary rigorous analytical framework.
Investment Objective
The objective of the strategy is to achieve long term capital appreciation by primarily investing in Business Leaders ‘listed securities’ by market capitalization 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.
Investment Approach Details
S&P BSE 500 TRI
Date
January 22, 2021
Approach
Bottom-up
Style
Style Agnostic
Cap
Large & Mid Cap
Horizon
Medium to Long Term
Investment Approach Performance
Our investment team has a strong performance-first culture with an objective of generating sustained capital appreciation through strong returns over time.
Performance as on: May July 31st, 2023
| Performance(%) | July 2023 | YTD 2023 | 2022 | 2021 | Inception CAGR | Inception Absolute |
|---|---|---|---|---|---|---|
| Portfolio | 2.1 | 10.2 | -6.1 | 28.8 | 12.0 | 33.2 |
| S&P BSE 500 TRI | 3.9 | 11.0 | 4.8 | 27.8 | 17.0 | 48.6 |
| Outperformance (bps) | -188 | -83 | -1,090 | +98 | -498 | -1545 |
| Other Indices | ||||||
| S&P BSE 200 TRI | 10.0 | 3.6 | 5.7 | 25.4 | 16.1 | 45.7 |
| S&P BSE 100 LargeCap | 8.5 | 3.2 | 5.5 | 23.4 | 14.7 | 41.2 |
| S&P BSE 150 MidCap | 18.7 | 5.9 | 3.6 | 42.8 | 25.1 | 75.8 |
| S&P BSE 250 SmallCap | 21.7 | 7.6 | -1.0 | 54.6 | 28.0 | 86.2 |
Inception Date: 22 January 2021. All indices are Net Total Return in INR. Performance is net of all fees and expenses (including taxes). Performance shown since 22 January 2021 as client monies were managed from this date. Performance related information provided herein is not verified by SEBI. Past performance is not a reliable indicator of future results. Please note that performance of your portfolio may vary from that of other investors and that generated by the Investment Approach across all investors because of 1) the timing of inflows and outflows of funds; and 2) differences in the portfolio composition because of restrictions and other constraints. Performance relative to other Portfolio Managers within the selected Strategy : Click Here. Based on SEBI and APMI guidelines, the Benchmark of the Portfolio Approach is changed from S&P BSE 200 to S&P BSE 500 TRI w.e.f. April 1, 2023. CAGR : Compound Annual Growth Rate
Classification as per Securities and Exchange Board of India (SEBI) guidelines for Mutual Funds. Additional information on the classification methodology is available upon request.
Sector Exposure
At White Oak Capital, the sectoral weights are an outcome of our bottom-up stock selection process.
Sector-wise Attribution Since Inception (%)
Attribution analysis is an evaluation tool used to explain sources of excess returns from a fund manager’s active investment decisions against a benchmark.
Selection Effect : The selection effect refers to the impact of the selection of specific stocks within a segment on the portfolio’s overall return. A positive selection effect occurs when the portfolio return from a particular segment is greater than the benchmark return from the same segment.
Allocation Effect : The allocation effect refers to the returns generated by allocating portfolio weights to specific segments, sectors, or industries. Positive/Negative allocation occurs when the portfolio is overweighted in a segment that outperforms/underperforms the overall benchmark and underweighted in a segment that underperforms/outperforms the overall benchmark.
| Portfolio | Benchmark | Attribution | |||||
| Avg Wt | Tot Return | Avg Wt | Tot Return | Selection Effect | Allocation Effect | Top Return | |
| Comm Services | 0.9 | -7.2 | 2.8 | 27.7 | -0.4 | 0.4 | 0.0 |
| Consumer Disc | 12.5 | 46.4 | 8.7 | 57.7 | -1.9 | 0.8 | -1.1 |
| Consumer Stp | 7.8 | 33.8 | 8.3 | 56.7 | -1.9 | -0.4 | -2.2 |
| Energy | 0.0 | 0.0 | 9.2 | 41.4 | 0.0 | 0.4 | 0.4 |
| Financials | 34.3 | 47.5 | 30.5 | 37.2 | 3.7 | -1.4 | 2.3 |
| Health Care | 8.5 | 48.6 | 5.4 | 28.7 | 1.9 | -0.8 | 4.5 |
| Industrials | 7.0 | 58.9 | 7.6 | 104.3 | -1.9 | -0.4 | -2.3 |
| Information Tech | 14.7 | 41.2 | 12.4 | 17.8 | 5.2 | -0.8 | 4.5 |
| Materials | 8.9 | 0.3 | 10.4 | 64.7 | -5.5 | -0.6 | -6.1 |
| Real Estate | 0.9 | 127.0 | 0.8 | 75.5 | 0.4 | 0.1 | 0.4 |
| Utilities | 0.0 | 0.0 | 4.0 | 90.2 | 0.0 | -1.4 | -1.4 |
| Cash/Fut/Other | 4.5 | 0.0 | 0.0 | 0.0 | - | - | 0.2 |
| Total | 100.0 | 42.1 | 100.0 | 46.6 | -0.3 | -4.3 | -4.5 |
Factset’s Attribution Analysis: GICS Classification. Performance is gross of fees, taxes and expenses. Performance related information provided herein is not verified by SEBI
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Cnergy, B2/B3, 6th Floor, Appasaheb Marathe
Marg, Prabhadevi, Mumbai, Maharashtra 400025.
Call us at - +91 8097 4368 49
Information
Cnergy, B2/B3, 6th Floor, Appasaheb Marathe
Marg, Prabhadevi, Mumbai, Maharashtra 400025.
Phone : +91-22- 62308100