ITI MF unveils ITI Flexi Cap Fund
ITI Mutual Fund, a leading fund house, launched an NFO- ITI Flexi Cap Fund on 27 January.
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Mumbai: ITI Mutual Fund, a leading fund house, launched an NFO- ITI Flexi Cap Fund on 27 January. The NFO will close on February 19, 2023 and the minimum application amount is Rs5,000 and in multiples of Rs1 thereafter. The fund will be jointly managed by Dhimant Shah and Rohan Korde. ITI Flexi Cap Fund will be benchmarked against Nifty-500 Total Return Index. The fund will predominantly invest in equity and equity related instruments across market capitalisation- large cap, mid cap and small cap companies.The NFO is suitable for those investors who are looking to remain invested on a long-term basis.
Rajesh Bhatia, Chief Investment Officer, ITI Mutual Fund, said: "We have launched ITI Flexi Cap Fund with a view to offer investors the benefit of staying invested across market caps and diverse sectors. With capex cycle expected to increase further, investors can get an opportunity to experience the growth curve across many industries. With proven track record and a sound philosophy of investment, ITI Mutual Fund is focused on offering investment solutions to all investors with varied risk appetites."
The fund house manages close to Rs3,557 crore of assets as on December 31, 2022. Out of the total AUM, Equity AUM accounted for Rs2674.94 crore, while Hybrid and Debt schemes accounted for Rs553.45 crores and Rs329.34 crores respectively. The geographical spread of the AUM is well diversified with top 5 cities accounting for 40.53 per cent, next 10 cities with a share of 19.77 per cent, next 20 cities with a share of 12.27 per cent, next 75 cities with a share of 10.50 per cent and followed by others with a share of 16.92 per cent. ITI Mutual Fund has presence over 57 locations (through its branches/ ITI group offices) & has a distributor reach of 19,698 distributors across India.
ITI Mutual Fund started its operations in April 2019 and in a period of less than 4 years, it has launched 16 mainstream mutual fund products in the market for investors.