ITI Mid Cap Fund NFO collects Rs. 228 crores AUM
On February 15, 20201, ITI Mutual Fund launched a new fund offer. The name of the scheme is the ITI Mid Cap Fund. It has collected assets under management to the tune of Rs. 228 crores. The NFO closed on March 1, 2021.
As of the source, nearly 2265 distributors participated from 1363 locations. Moreover, the distributors collected more than 15,500 applications.
However, the scheme reopened on March 10, 2021, for the continuation purchase of units. However, the scheme received a positive response from the investors. With this move, the officials of the ITI MF house are very happy.
According to the AMFI reports, ITI MF has launched up to 10 schemes. Those are ITI Multicap, Long Term ELSS, Arbitrage, Liquid, Overnight, Balanced Advantage, Small-Cap, Banking & PSU Debt, Large-Cap, and ITI Mid Cap fund.
Besides, the ITI AMC has started its MF operations in April 2019. It has empanelled more than 12721 MFDs, Moreover, the MF has set up 25 branches.
However, the MF has aimed to increase its branches from 25 to 48 in the coming few years.
The fund house stated that ITI Mid Cap Fund will have a well-diversified portfolio. At the time of investment, the stock exposure regarding each investor will be picked at 3% of the AUM. The Fund remains benchmark & sector agnostic. Moreover, it will stick to the Mid Cap world as defined by AMFI at the time of purchase of stocks in the fund.
As per the source, up to 80% of the portfolio will comprise centre stocks. Besides, the tactical bets will not be more than 20%. The objective of the fund house continues to generate a consistent & superior investing experience for all our investors.