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White Pine India Emerging Stars

White Pine Investment Management Private Limited
PMS Multi Cap & Flexi Cap
Benchmark
MSEI SX 40 TRI
Inception Date
25 May 2022
Min. Investment
₹50,00,000
AUM (Cr.)
₹396.04
SIP Available
No
STP Available
No

Investment Strategy

Investment Approach

While we like companies delivering sustainable ROCE, we are also opportunistic in mid-cyclicals. Cyclicals should obviously offer more adjusted returns compared to structural ideas.Our investment style is generally long-term thematic with longer holding period. Good management quality might give lower potential upsides, but also protects us from intrinsic and peculiar risks unique to a firm.

Investment Objective

To seek to generate capital appreciation regular returns by investing in equity/ debt/money market instruments / equity related securities and units of mutual funds;To seek to generate capital appreciation regular returns by investing exclusively in units of mutual funds To seek to generate regular returns by primarily investing in debt and money market instruments.

Performance Returns

Returns as on 2025-12-31

Trailing Returns

Period Strategy Benchmark Outperformance
1 MONTH -2.26% -0.42% -1.84%
3 MONTHS 3.57% 5.69% -2.12%
6 MONTHS -3.46% 1.61% -5.07%
1 YEAR 2.73% 8.59% -5.86%
2 YEAR 16.65% 8.61% 8.04%
3 YEAR 35.05% 11.37% 23.68%
SINCE INCEPTION 36.41% 13.51% 22.90%

Calendar Year Performance

Year Return
CY 2025 2.73%

Financial Year Performance

Year Return

Past performance is not indicative of future results. Returns are subject to market risks.

Fund Managers

Niraj co-founded White Pine Investment Management in May 2021. He has cumulative ~22 years of formal experience in Equity investing, Equity research and Information Technology. While most of his experience pertains to Equities (18 years) and Real Estate (large equity investments + family business), he has also worked in Fixed Income markets (~0.5 years in Debt fund management). In his last assignment, he held the position of Executive Director in Goldman Sachs Asset Management (GSAM) – entity managing funds for GS India Equity Fund.He graduated in First class with Honours in Bachelor of Technology in Chemical Engineering from Indian Institute of Technology (IIT-BHU), Varanasi in 1998. He is also an MBA (Finance and Strategy) from Indian School of Business (ISB), Hyderabad. He is a CFA charter holder since December 2007.

Manish Karwa

Co-Founder

Manish co-founded White Pine Investment Management in May 2021. He has 22 years of equity research experience primarily covering the financial sector – banking, insurance, NBFCs, etc. at marquee places like Kotak, Deutsche, Axis, Motilal Oswal, etc. He has been very well rated by most institutional investors in their polls and various external polls. Manish is an MBA (Finance) from Mumbai University.

Portfolio Details

Portfolio Composition

Large Cap
0%
Mid Cap
0%
Small Cap
0%
Cash & Equivalent
0%

Top 5 Holdings

  • Undisclosed N/A
  • Undisclosed N/A
  • Undisclosed N/A
  • Undisclosed N/A
  • Undisclosed N/A

Top 5 Sectors

  • Undisclosed N/A
  • Undisclosed N/A
  • Undisclosed N/A
  • Undisclosed N/A
  • Undisclosed N/A

Portfolio Characteristics

total number of stocks
N/A
top 5 stocks percent
N/A
top 5 sectors percent
N/A
average market cap
21253
portfolio age
3 Yrs, 7 Months
sip
Not Available
stp
Not Available

Fee Structure

Variable Fee

AMC: No Option

Hurdle: No Option

Profit Sharing: No Option

Exit Load

Disclaimer

* Returns are as on31st December 2025 , * Returns over a 1 year period are annualized * Returns are calculated using the Time Weighted Rate of Return (TWRR) method and as provided by the respective AMCs. *ND (No Data) , * NA(Not Applicable) * Returns of the respective Benchmark Indices used are tabulated above. Benchmark(s) given are as per SEBI circular no. SEBI/HO/IMD/IMD-PoD-2/P/CIR/2022/172 dated December 16, 2022 and the APMI circular no. APMI/2022-23/02 dated 23rd March,2023 and Revised Annexure-1

This profile is provided for general informational purposes only and is based on publicly available information. While reasonable care is taken, the content may not always reflect the latest updates.

Nothing on this page constitutes investment, financial, or legal advice. Investment decisions should be made after consulting a qualified advisor and reviewing official scheme documents.

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Last Updated: January 2026 · Published by Affluense AI (affluense.ai)

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