ITI MF earns Rs 164 crores
To begin with, according to a press release from the fund house, ITI MF earns Rs 164 crores. Significantly, it gathered this amount during the new fund offer of ITI Balanced Advantage Fund. ITI Mutual Fund focuses to provide high-quality investment solutions to the investors.
Besides, the subscription to the scheme remained open from 9th Dec to 23rd Dec 2019.
Mr. George Heber Joseph, CEO, while speaking about the NFO said that they aimed at focusing T30 towns. Also, on a few B30 locations.
Despite this, in April the AMC had started its operations. As of now, ITI Mutual Fund has floated five schemes. Namely, ITI Multi-Cap Fund and ITI Long Term Equity Fund (ELSS-Tax Saving Fund). Also, they include ITI Arbitrage Fund, ITI Liquid Fund, and ITI Overnight Fund. Wherefore, ITI Balanced Advantage Fund is the sixth NFO. This existed as an open-ended dynamic asset allocation fund. The scheme seemed suitable for investors who focused on seeking capital appreciation. While, it also focused on generating income over the long term and medium term.
Mr. Joseph also said that the fund house aims to secure a place among the top-10 mutual fund houses in the country.