Mumbai, 6th January 2020: ITI Mutual Fund started its operations in April 2019. The AMC is a new entrant in the mutual fund industry and is backed by a large conservative cash rich business group.:
ITI Balanced Advantage Fund NFO started on December 9, 2019 and has received excellent response from the investors and has collected more than Rs 164 crores. The NFO closed on December 23, 2019 in which more than 1000 distributors participated.
ITI Balanced Advantage Fund is an excellent investment solution for all types of investors. The fund enables to ride through emotions of greed & fear smoothly. It also has the potential to deliver consistent long-term risk-adjusted returns and smooth investing experience by dynamically allocating money between equity and debt.
Till now ITI Mutual Fund has launched 5 schemes - ITI Multi Cap Fund, ITI Long Term Equity Fund (ELSS- Tax Saving Fund), ITI Arbitrage Fund, ITI Liquid Fund and ITI Overnight Fund. ITI Balanced Advantage Fund is the sixth NFO that the fund house has launched and has got a fantastic response.
Commenting on the impressive investor response to its ITI Balanced Advantage Fund NFO, George Heber Joseph, Chief Executive Officer and Chief Investment Officer said, “We are very happy with the positive response that we have received in the NFO”. We are focusing on T30 towns and few B30 locations from where we have got good traction. The overall response from the PAN India distributors was very encouraging and that clearly reflects in the NFO collection.
The AMC started its operations in April 2019 and in such a short period of nine months, it has empanelled more than 7000 IFAs and has set up 16 branches. The fund house has set a target of opening 48 branch offices in the next few years to connect with IFAs across the country.
ITI Mutual Fund aims to offer the right products to the investors at the right time and bring a new paradigm in Asset Management space by focusing on a Unique Investment Philosophy - SQL (S - Margin of Safety, Q - Quality of the Business and L - Low Leverage) and generate a consistent & superior investing experience for our investors, Joseph added.
“Our aim is to be among the Top 10 Mutual Funds in the country in the next 10 years. We want to be known for the excellence in fund performance, transparency and taking care of investors interests. We have hired the best and experienced team across all functions so as to provide the best in class service to our IFA partners & investors. We have got a good start and a strong participation from all our IFA partners PAN India”, Joseph said
About ITI Mutual Fund:
ITI Mutual Fund is a dynamic and innovative Fund House sponsored by The Investment Trust of India Ltd and Fortune Credit Capital Limited.
ITI Mutual Fund offers investor centric products & high-quality investment solutions to investors seeking long term wealth creation. The main aim of the fund house is to offer superior risk adjusted returns over the long term.
ITI Mutual Fund has set up a specialised team with the finest minds in the Investment Management, Equity Research and Credit Research space. The agility, no legacy and fresh perspective can help investors get ahead in wealth creation in a rapidly evolving economy.
(Mutual Fund investments are subject to market risks, read all scheme related documents carefully.)
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