Mumbai, Aug 11 (IANS): WhiteOak Capital Asset Management has collected nearly Rs 550 crore during the new fund offer, the WhiteOak Capital Flexicap Fund. This was even after volatile market conditions and a near 40 per cent decline in gross equity inflows as reported by AMFI.

The fund aims to build an active, well-diversified portfolio, representing a cross-section of companies across major industries, economic sectors, and market cap segments.

"Given this was our maiden retail mutual fund offering, all we expected was a willingness from industry participants to experience us with a wide-spread participation and a critical mass of investor base on which to deliver performance and build track record. With the participation of around 25,000 investors across 350 cities in India and beyond, we have created a strong outreach in our retail journey. Over 2,000 distributors have been prime influencers in enabling investment contributions from both Top-30 and Beyond-30 cities," said Aashish P. Somaiyaa, CEO, WhiteOak Capital Asset Management.

More than 2,000 distributors were on-boarded, nearly a third of the contribution came from B30 cities in India. Around 25,000 unique investors across 350+ locations participated in this Flexicap Fund offering.