ITI Mutual Fund to float maiden scheme for a day on April 24

ITI Mutual Fund will be launching a maiden scheme, ITI Liquid Fund, for a day on April 24, said George Heber Joseph, Chief Executive Officer and Chief Investment Officer, ITI Mutual Fund.

ITI Asset Management is a part of Sun Pharma director Sudhir Valia-backed Investment Trust of India group. 

ITI Mutual Fund had received the Securities and Exchange Board of India’s go-ahead in May 2018.

The open-ended scheme will invest money market papers and debt instruments having residual maturity up to 91 days.

Himadri Buch

Assistant Editor|Moneycontrol.com

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Other features:

Plans: Regular and direct

Options: Growth and dividend 

Minimum investment: Rs 5,000 and in multiples of one rupee thereafter.

Exit load: Nil

Performance benchmark- CRISIL Liquid Fund Index