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Last Updated : Aug 17, 2019 01:48 PM IST | Source: Moneycontrol.com

ITI Mutual Fund mulls slew of scheme launches in next few months

The fund house has also chalked out a plan to launch asset allocation-based products, large cap fund and an overnight fund in the coming months.

Himadri Buch @himadribuch

The fund house which began its operations with the launch of ITI Liquid Fund and ITI Multicap Fund in April 2019 and ITI Long Term Equity Fund in July 2019 is now planning to launch ITI Arbitrage Fund on August 20, George Heber Joseph, Chief Executive Officer and Chief Investment Officer, ITI Mutual Fund, told Moneycontrol.

The AUM of their maiden equity fund, ITI Multicap Fund, has increased from Rs 19 crore to Rs 29 crore as on July 31, 2019. Subscription to the latest fund offer - ITI Long Term Equity Fund, a tax-saver equity scheme with a lock-in period of three years, is ongoing since July 15 and will close on October 14, 2019.

George said the fund house aims to be among the top-10 asset management companies in India in the next 10 years. However, he refrained to share any AUM target for the coming years.

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The fund house has also chalked out a plan to launch asset allocation-based products, large cap fund and an overnight fund in the coming months.

George believes the risk-reward is much more favorable in large-cap stocks compared to mid and small-cap segment of the market, which is still trading at above-average valuations.

Nevertheless, there are few mid & small-cap stocks which are attractive at this point of time and being evaluated by the fund house for accumulation.

The Investment Trust of India Ltd ( ITI) is the promoter of ITI Mutual Fund.

ITI Group is an innovative, conservative and emerging financial services conglomerate which has interests in various financial services businesses.

 

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First Published on Aug 16, 2019 06:41 pm
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