ITI Mutual Fund Introduces ITI Mid Cap Fund
   Feb 15, 2021

ITI Mutual Fund has launched an open-ended equity scheme – ITI Midcap Fund.

The scheme will predominantly investing in mid cap stocks (i.e. companies from 101st to 250th on full market capitalisation basis).

The investment objective of the scheme is to seek to generate long term capital appreciation by predominantly investing in equity and equity related securities of mid cap stocks. However, there can be no assurance that the investment objective of the scheme would be achieved.

Under normal circumstances, 65% to 100% of the funds portfolio will be invested in Equity & Equity Related Instruments of Mid cap companies, whereas upto 35% of its assets can be invested in Equity and Equity Related Instruments of other than Mid cap companies. It can invest also upto 35% of its assets in Debt & Money Market Instruments, and upto 10% in Units issued by REITs and InvITs.

As per the Scheme Information Document, while managing the assets of ITI Mid Cap Fund, the investment team will follow an active strategy and will predominantly follow a bottom up approach of stock selection. The investment team shall scan the market for opportunities and shall evaluate the individual opportunities on their merits, leading to the bottom-up investment decision.

ITI Mid Cap Fund may also seek participation in other equity and equity related securities to achieve optimal portfolio construction. The Scheme may also invest a certain portion of its corpus in debt and money market securities. Investment in debt securities will be guided by credit quality, liquidity, interest rates and their outlook.

ITI Mid Cap Fund’s performance will be benchmarked against Nifty Mid Cap 100 TRI (Total Return Index).

The fund will be managed by Mr George Heber Joseph and Mr Pradeep Gokhale.

The NFO opens for subscription on February 15, 2021 and closes on March 01, 2021. The scheme will reopen for continuous sale and repurchase on or before March 15, 2021.

The minimum subscription amount is Rs 5,000 and in multiples of Re 1 thereafter.

The fund offers Regular Plan and Direct Plan having Growth Option and Dividend Option (Dividend Re-investment and Dividend Pay-out facilities).

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