( RAMESH MANTRI DIRECTOR – INVESTMENTS ) 

Ramesh has 17 years of experience in investing and financial analysis across sectors. Ramesh had founded Ashoka Capital Advisers that advised a fund and family offices on equity investment in South Asia. Earlier, he was part of the two-member team which invested in South Asia in equity and debt for Alden Global Capital, a US-based hedge fund for over 7 years. Prior to this, he was an analyst at CRISIL (majority-owned by Standard and Poor’s), India’s leading rating agency, and covered the financial sector. Ramesh is a CFA charter holder, MBA from the Faculty of Management Studies, Delhi, and a Chartered Accountant

(Prashant Khemka Portfolio – Fund Manager )

Prashant started white Oak Capital Management in June 2017. Before this, he worked at Goldman Sachs Asset Management (GSAM) as the CIO and lead portfolio manager for GS India Equity from March 2007 to March 2017 and the Global Emerging Markets (GEM) Equity from June 2013 to March 2017. As the lead PM for these initiatives, he was in charge of all mutual funds and separate accounts.

• Prashant joined Goldman Sachs Asset Management (GSAM) in 2000 in the US Growth Equity team.
• In 2004, he became Senior PM and Co-Chair of the Investment Committee on the US Growth Equity team, which managed US$25 bn.
• He returned to Mumbai in 2006 to start GSAM India business, where he served as CIO and CEO / Co-CEO until 2013
• In 2013, Prashant moved to Singapore as CIO and Lead PM of India and Global Emerging Markets.
• He directly managed more than US$5.0 bn out of the USD 6.5 bn managed by his team.
• Prashant and his funds at GSAM earned several awards, including Citywire AAA rating and FundCalibre Elite rating.
• Prashant is AAA rated by Citywire based on the three-year risk-adjusted performance across all funds he is managing to 30th November 2021

• The presence of one business characteristic does not indicate the absence of the other three.
• All of the qualities must be present in all stocks, at a minimum stated level or greater.
• When a certain attribute is highlighted, the filter standard for threshold clearance for that attribute is retained at its highest level. In contrast, the filter for the other three attributes is kept at its maximum level.
• The barrier will be average or below average for all stocks for no characteristic.

White Oak Capital believes that investing in exceptional firms at attractive prices yields outsized returns over time. A great company is well-managed, has a scalable long-term opportunity, and delivers better returns on incremental capital, as well as a proven track record of execution and governance. Valuation analysis is an important part of their study. According to the firm, White Oak Capital conducts in-depth valuation analysis to find firms that are selling at a significant discount to their real worth. 

They hunt for firms whose cash flow or earnings projection, and hence intrinsic value, differs considerably from what the market has put into the shares. Valuation is appealing when the current market price is significantly lower than the underlying value. White Oak Capital prefers to focus on economic free cash flows above accounting cash flows and assigns a terminal value based on the company’s success.

The objective of the investment approach is on long-term absolute returns. Instead of betting on macro, they offer a basic yet effective investment strategy of selecting and investing in companies.White Oak Capital often avoids enterprises with poorer qualities, such as poor corporate governance, low incremental returns on capital, or those that suffer technology obsolescence risk. Poor corporate governance may take many forms, including syphoning of cash or value, stock price manipulation, unethical business activities, or misaligned interests, and low returns on new capital might result from excessive industry competition or capital misallocation.

Seasoned Team With Global Experience

A strong team of seasoned investment experts has worked through numerous market cycles. Extensive worldwide investment expertise lends itself to a keen understanding of pattern detection when investing in India. Each firm is researched by two analysts in a unique team-within-team framework.

Time Tested Investment Philosophy

They are investing in exceptional firms at attractive prices yields outsized profits over time. Rather than skewed accounting earnings, the valuation approach is based on economic cash flows. A great business generates higher returns on more capital, is scalable, and is well-managed in execution and governance.

Disciplined Research Process

Intensive basic research to evaluate business traits and valuation using the OpcoFincoTM framework. As a beginning point for the research process, a structured screening approach examines a company’s governance-DNA. An intensive factory visits meetings with firm management, rivals, suppliers, customers, and other trade participants will help you gain a 360-degree view of any organisation.

Balanced Portfolio Construction

Ensure that alpha creation results from stock selection in a well-balanced portfolio. Avoid market timing, sector rotation, and other top-down macro bets by investing in companies. Understand, monitor, and try to keep residual factor risks, which are a result of stock selection, to a minimum.