ITI Mutual fund is ready to launch a new mutual fund – ITI Banking and Financial Services Fund.
The NFO (New Fund Offer) will open for subscription from 29th November 2021. The minimum subscription amount is ₹ 5,000 and then in multiples of ₹ 1.
Pratibh Agrawal and Pradeep Gokhale will jointly manage the fund. ITI Banking and Financial Services Fund will be the 15Th fund launched by the AMC (Assets management company) in two years of its existence.
The new fund aims to invest in BFSI (banking, financial services and insurance). The money pooled by the fund gets invested into insurance companies, banks, rating agencies, and fintech that are emerging.
ITI Mutual Fund was formed in 2018 to offer high-quality investment offers to investors aiming at wealth creation and maximization over a long period. The AMC provides a wide range of mutual funds across equity, debt and hybrid fund categories.
A new Offer fund (NFO) is the first-time subscription of a new fund or scheme introduced by an AMC. The AMC purchases securities with the help of the fund. NFO is available at a reasonable price than the existing funds as it is new.
The fund will be available at the prevailing net asset value (NAV) after the NFO ends.
Banking and Financial Services has seen unprecedented and undisturbed growth over the past few years. There are well established regulatory bodies to monitor their activities.
ITI Mutual fund has a lot of confidence in the unique investment offering to the investors. They have adopted a conscientious and research-backed investment process to help investors earn maximum returns.
The fund house follows a SQL investment philosophy- Margin of safety, Quality of business, and low leverage. It aims to offer a superior experience to its customers. The SQL philosophy helps to reduce the valuation risks in the funds.
The AUM of ITI Mutual fund (Asset under management) as of 31st October 2021 is ₹ 2239 crores. Out of the total AUM, debt schemes amounted to ₹ 333 crores, equity AUM and hybrid scheme accounted for ₹ 1588 crores and ₹ 319 crores, respectively.