WhiteOak Capital Arbitrage Fund
This is the Direct plan of WhiteOak Capital Arbitrage Fund — bought from the fund house, with no distributor commission in its expense ratio. Income is retained in the fund, so it shows up as NAV rather than as a payout.
NAV history
Scorecard
★★★★★5/5 vs 34 of 39 Arbitrage Fund peers1Y- Performance 60%
- Risk 15%
- Cost 10%
- Downside 15%
How this is computed
Each verdict is computed from this fund's own metrics against its sub-category — the number behind it is shown, not a black-box rating. The stars weight the same ground 60/15/10/15 (performance/risk/cost/downside) across every fund in the peer group. Ranked within Arbitrage Fund (same plan and option). Based on a 1-year record — this fund is too young for a 3-year CAGR, so its performance is ranked on 1Y against the same peers. 34 of the 39 Arbitrage Funds in this cohort carry the full record the stars need, so they are the ones ranked against.
Not enough Arbitrage Fund peers to rank yet
Volatility 1.1% vs 1.3% category avg
2.4% expense vs 1.5% category avg
Not enough history for a rolling 3Y view
Strengths & concerns
Generated from this fund's own numbers against its sub-category — each point names the figure behind it.
Strengths
- 1-year return (+7.14%) beats the Arbitrage Fund average (+6.57%)
- Ranks #2 of 34 on 1-year return in its Arbitrage Fund cohort
- Less volatile than its Arbitrage Fund peers (1.1% vs 1.3%)
Concerns
- High expense ratio (2.35%) vs the Arbitrage Fund average of 1.48%
Key Metrics
Scheme Info
DefinitionsPeriod returns (<1Y, absolute — not annualized)
DefinitionsAnnualized returns (≥1Y — CAGR)
DefinitionsAdvanced metrics — risk
Fund vs category average (Arbitrage Fund)
| Period | Fund | Category avg. | Diff |
|---|---|---|---|
| 1M abs | +0.32% | +0.25% | +0.07% |
| 3M abs | +1.73% | +1.49% | +0.24% |
| 6M abs | +3.51% | +3.15% | +0.36% |
| 1Y CAGR | +7.14% | +6.57% | +0.57% |
| 3Y CAGR | — | +7.19% | — |
| 5Y CAGR | — | +6.63% | — |
Category average across peers in Arbitrage Fund (up to 39 funds with data), same plan and option, excluding this fund. Under-1-year figures are absolute; 1Y and beyond are annualised (CAGR).
Not sure what a figure means? The glossary explains every metric, and the methodology shows the formulas.
Category rank
Vs 39 peers in Arbitrage Fund
Backtest this fund
What a SIP or one-time investment would have grown to over this fund’s real NAV history.
12 monthly installments of ₹10,000 into WhiteOak Capital Arbitrage Fund, valued at the latest NAV. XIRR annualizes for each installment’s timing.
Calendar-year returns
What the fund actually returned in each year, not the smoothed average.
| Year | Fund | |
|---|---|---|
| 2026part | +5.29% | |
| 2025 | +7.43% | |
| 2024part | +2.02% |
January–December, from this fund's NAV history. Absolute return, not annualised. “part” marks a year the fund didn't run end to end — its first year, the current year so far, or one it stopped reporting in.
Taxation
Taxed as equityThis is an equity-oriented fund (≥65% in Indian equities), so gains get the concessional capital-gains rates below — they do not add to your income-tax slab.
Flat, on the whole gain
On gains above ₹1.25 L per financial year
Applies to capital gains on redemption. Excludes IDCW/dividend tax, STT, surcharge and cess, and pre-2018 equity grandfathering. For research only — consult a tax advisor before filing.
Asset allocation
As on 31 Aug 2026 · AMC disclosure- Equity74.49%
- Debt13.08%
- Other8.08%
- Cash & Equivalents4.35%
Cash & cash-like: 12.02% — the 4.35% above plus treasury bills, certificates of deposit, commercial paper and TREPS, which the allocation files under Debt but the market counts as cash-equivalent.
Fund size over time
Quarterly average AUM · AMFIAt or near its largest, ₹1,351Cr in April - June 2026. Size matters most where the mandate is narrow — a large small-cap or a very large flexi-cap book is harder to move without moving the price.
Net flow is an estimate: AMFI publishes a quarterly average AUM, not a closing balance, and it covers every plan and option of this scheme together, so it is a read on direction and rough size rather than a cash-flow statement.
AMC Profile
WhiteOak Capital Mutual Fund is run by WhiteOak Capital Asset Management, founded by Prashant Khemka, previously chief investment officer of Goldman Sachs' India equity business. The house entered mutual funds by acquiring YES Mutual Fund in 2021 and now runs a broad equity and hybrid range.
Fund Managers
PBPiyush BaranwalStart date not disclosed
Senior Fund Manager
Bachelor of Engineering, PGDBM, clearedall 3 levels of CFA
Over 18 years' experience in Portfolio Management and trading in Fixed Income securities. WhiteOak Capital Asset Management Limited (November 01, 2021 - till date) 2. YES Asset Management (India) Limited (October 22, 2018 – October 31, 2021) 3. BOI AXA Investment Managers (July 2014 - October 19, 2018)
- WhiteOak Capital Aggressive Hybrid Fund
- WhiteOak Capital Balanced Advantage Fund
- WhiteOak Capital Balanced Hybrid Fund
- WhiteOak Capital Banking & Financial Services Fund
- WhiteOak Capital Consumption Opportunities Fund
- WhiteOak Capital Digital Bharat Fund
- WhiteOak Capital Dividend Yield Fund
- WhiteOak Capital ELSS Tax Saver Fund
- WhiteOak Capital Equity Savings Fund
- WhiteOak Capital ESG Best-In-Class Strategy Fund
- WhiteOak Capital Flexi Cap Fund
- WhiteOak Capital Large & Mid Cap Fund
- WhiteOak Capital Large Cap Fund
- WhiteOak Capital Liquid Fund
- WhiteOak Capital Mid Cap Fund
- WhiteOak Capital Multi Asset Allocation Fund
- WhiteOak Capital Multi Cap Fund
- WhiteOak Capital Pharma and Healthcare Fund
- WhiteOak Capital Quality Equity Fund
- WhiteOak Capital Special Opportunities Fund
- WhiteOak Capital Ultra Short Term Fund
AAAshish AgrawalStart date not disclosed
PGDM (Finance)
Over 18 years’ of experience in Financial market: 1. WhiteOak Capital Asset Management Limited (August 2022 - till date) 2. Motilal Oswal Asset Management Company Limited (September 2016 – July 2022) 3. Citi Group Global Markets India Pvt Ltd (October 2010 - September 2016) in the last
- WhiteOak Capital Aggressive Hybrid Fund
- WhiteOak Capital Balanced Advantage Fund
- WhiteOak Capital Balanced Hybrid Fund
- WhiteOak Capital Banking & Financial Services Fund
- WhiteOak Capital Consumption Opportunities Fund
- WhiteOak Capital Digital Bharat Fund
- WhiteOak Capital Dividend Yield Fund
- WhiteOak Capital ELSS Tax Saver Fund
- WhiteOak Capital Equity Savings Fund
- WhiteOak Capital ESG Best-In-Class Strategy Fund
- WhiteOak Capital Flexi Cap Fund
- WhiteOak Capital Large & Mid Cap Fund
- WhiteOak Capital Large Cap Fund
- WhiteOak Capital Mid Cap Fund
- WhiteOak Capital Multi Asset Allocation Fund
- WhiteOak Capital Multi Cap Fund
- WhiteOak Capital Pharma and Healthcare Fund
- WhiteOak Capital Quality Equity Fund
- WhiteOak Capital Special Opportunities Fund
RMRamesh MantriStart date not disclosed
CIO - Equities
MBA, CFA
Over 20 years' experience in Financial market: 1. WhiteOak Capital Asset Management Limited (December 21, 2021 - till date) 2. White Oak Capital Management (June 2017 – December 20, 2021) 3. Ashoka Capital Advisers (February 2013 - May 2017)
- WhiteOak Capital Aggressive Hybrid Fund
- WhiteOak Capital Balanced Advantage Fund
- WhiteOak Capital Balanced Hybrid Fund
- WhiteOak Capital Banking & Financial Services Fund
- WhiteOak Capital Consumption Opportunities Fund
- WhiteOak Capital Digital Bharat Fund
- WhiteOak Capital Dividend Yield Fund
- WhiteOak Capital ELSS Tax Saver Fund
- WhiteOak Capital Equity Savings Fund
- WhiteOak Capital ESG Best-In-Class Strategy Fund
- WhiteOak Capital Flexi Cap Fund
- WhiteOak Capital Large & Mid Cap Fund
- WhiteOak Capital Large Cap Fund
- WhiteOak Capital Mid Cap Fund
- WhiteOak Capital Multi Asset Allocation Fund
- WhiteOak Capital Multi Cap Fund
- WhiteOak Capital Pharma and Healthcare Fund
- WhiteOak Capital Quality Equity Fund
- WhiteOak Capital Special Opportunities Fund
BPBhavin PatadiaStart date not disclosed
MBA in Financial
Over 16 years' experience in Portfolio Management and trading in Fixed Income securities. 1. WhiteOak Capital Asset Management Limited (November 06, 2024 - till date) 2. Edelweiss Asset Management Limited (July 2019 – November 05, 2024) 3. Bandhan Mutual Fund (previously IDFC Mutual Fund) (September 2016 – July 2019) 4. Standard Chartered Securities (July 2015 – September 2016) in the last
Fund manager, benchmark and dealing terms from this scheme's SEBI-filed Scheme Information Document on AMFI. Each manager's qualifications and role are reconciled across every filing this fund house makes for them, including its Statement of Additional Information. Total AUM via AMFI.
Explore from here
WhiteOak Capital in the news
Headlines about the fund house, not this scheme in particular — highlights only; tap through to read the full story at the source.
WhiteOak Capital Mutual Fund files offer document for Contra Fund
Investment Guru India · 3h ago
Top 4 mutual fund updates on October 5: JioBlackRock Gold ETF, Quant Nifty Next 50 Index Fund and more
Upstox · 5h ago
HSBC Midcap among 5 midcap funds that delivered up to 24% CAGR in 3 years. Do you currently hold any in your portfolio?
The Economic Times · 3d ago
Top Performing Mid Caps
The Economic Times · 4d ago
WhiteOak Capital MF introduces Diversified Equity Small Cap Active FOF
Investment Guru India · 7d ago
NFO Insight: WOC Diversified Equity Small Cap Active FoF NFO opens for subscription. How is it different f
The Economic Times · 7d ago
WhiteOak Capital Mutual Fund launches first FOF focused on small-cap funds
Cafemutual · 7d ago
NFO Alert: WhiteOak Capital Mutual Fund launches diversified equity small cap FOF, its first FoF
The Economic Times · 11d ago
Returns and risk are computed from NAV history and may differ slightly from other portals due to methodology (rolling vs point-to-point, dividend treatment). For research only — not investment advice.
About Arbitrage funds
Arbitrage funds profit from small price gaps between the cash and futures markets rather than from market direction. Returns are usually modest and cash-like, but they are taxed as equity.
From the blog
Frequently asked questions
What is the NAV of WhiteOak Capital Arbitrage Fund?
As of 01 Oct 2026, the NAV of WhiteOak Capital Arbitrage Fund is ₹11.56 per unit. NAV (net asset value) is the fund's per-unit price, published once each business day.
What returns has WhiteOak Capital Arbitrage Fund delivered?
WhiteOak Capital Arbitrage Fund has returned +7.14% over 1 year and +7.21% per year since inception. Figures beyond one year are annualised (CAGR) and are computed from AMFI NAV history, so they may differ slightly from other portals.
What is the expense ratio of WhiteOak Capital Arbitrage Fund?
WhiteOak Capital Arbitrage Fund charges an expense ratio of 2.35% per year. This annual fee is already deducted from the NAV, so the returns you see are net of it.
What are the top holdings of WhiteOak Capital Arbitrage Fund?
WhiteOak Capital Arbitrage Fund's largest holdings are WhiteOak Capital Liquid Fund- Direct plan-GR (5.4%), Vodafone Idea Limited (4.6%), HDFC Bank Limited (3.3%), Reliance Industries Limited (3.3%) and Bharti Airtel Limited (2.8%). Holdings are disclosed monthly and change over time.
How risky is WhiteOak Capital Arbitrage Fund?
WhiteOak Capital Arbitrage Fund is rated moderately high on SEBI's risk-o-meter, its trailing-3Y volatility (annualised) is 1.1% and its worst peak-to-trough fall in our sample was -0.4%. Higher volatility means the NAV swings more; the drawdown shows how far it has fallen from a peak historically.
What is the benchmark of WhiteOak Capital Arbitrage Fund?
WhiteOak Capital Arbitrage Fund is benchmarked against the NIFTY 50 Arbitrage. Its alpha and beta on this page are measured against that index.
Who manages WhiteOak Capital Arbitrage Fund?
WhiteOak Capital Arbitrage Fund is managed by Piyush Baranwal, Ashish Agrawal, Ramesh Mantri and Bhavin Patadia at WhiteOak Capital.
How is WhiteOak Capital Arbitrage Fund taxed?
WhiteOak Capital Arbitrage Fund is an equity-oriented fund, so its capital gains get concessional rates: short-term gains (units held under 1 year) are taxed at 20%, and long-term gains (held 1 year or more) at 12.5% above a ₹1.25 lakh per-year exemption. These rates apply on redemption and don't add to your income-tax slab.