First-time investors, however, should stay with a balanced fund or scheme with a track record and wait for two years until the scheme provides an actionable history.
The WhiteOak Capital Flexicap Fund NFO is currently open and closes on July 26. The minimum investment that can be made in the fund is ₹500 and thereafter in multiples of ₹1. An exit load of 1% on the NAV will apply on redemption within one month from the date of allotment. The fund will be managed by Ramesh Mantri.
The fund house is led by Prashant Khemka, the founder of WhiteOak Capital Management. He was the CIO of Goldman Sachs Asset Management’s India Equity and Global Emerging Markets Equity businesses.
Distributors believe there is merit in moving from existing underperforming flexicap funds to this NFO given the strong credentials of the fund management team led by Khemka. “Investors could consider moving some money from flexicap funds that have been underperforming for the last three years or more to the NFO given the strong management and track record in the PMS space,” said Vijay Kuppa, founder of Orowealth.
However, some distributors believe first-time investors should stay away from NFOs, especially those from a totally new fund house. “New investors should let the fund house build at least a two-year track record before considering an investment,” said S Shankar, CFP, Credo Capital.
