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ITI Mutual Fund launches the ITI Long Term Equity Fund

The scheme will have a diversified portfolio and will be market cap and sector agnostic in its investment approach.

ET Online|
Jul 15, 2019, 02.48 PM IST
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ITI Mutual Fund has launched its third scheme called the ITI Long Term Equity Fund. The new fund offer will be open for subscription from July 15 to October 14. The benchmark for the scheme will be Nifty 500 Total Return Index. The scheme will be managed by George Heber Joseph and Pradeep Gokhale.

According to a press release by the fund house, the scheme will have a diversified portfolio and will be market cap and sector agnostic in its investment approach.

“We are pleased to offer the ITI Long-Term Equity Fund to investors which will help them generate wealth as well as save tax. ITI Mutual fund follows the SQL investment philosophy ( S for Margin of Safety, Q for Quality of Business and L for Low Leverage) with the objective of long term wealth creation. The fund will follow a bottom up approach in picking stocks taking a long term view and follow ‘Growth at reasonable price (GARP) style. For sector and market cap based allocation, we use our research driven methodology based on business cycles, earnings growth prospects, market valuations and liquidity,” George Heber Joseph, CEO & CIO, ITI Mutual Fund said.

According to the press release, the scheme aims to generate long-term capital appreciation through a diversified portfolio of equity and equity-related securities. The fund will generally be minimum 90 per cent invested. The number of stocks envisaged in the fund is between 40 and 70.

The minimum initial investment in the scheme will be Rs 500 and multiples of Rs 500 thereafter. The scheme will invest minimum 80 per cent in equities & equities related securities and maximum 20 per cent will be invested in short-term debt and money market instruments.

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