ITI Mutual Fund
ITI Mutual Fund
Introduction
ITI Mutual Fund is a relatively new but growing player in the Indian asset management industry. It was established in 2018, with ITI Asset Management Limited (ITI AMC) being the Asset Management Company (AMC) authorized by SEBI to manage its schemes. The fund is promoted by The Investment Trust of India Limited (ITI Group), a conglomerate with a history in financial services. Notably, The Investment Trust of India Ltd. was also the promoter of the first private sector Mutual Fund launched in Indian history, Pioneer ITI Mutual Fund, which was eventually taken over by Franklin Templeton Mutual Fund in 2002.
ITI Mutual Fund aims to offer high-quality, considerate, and investor-focused investment solutions for long-term wealth creation. It leverages the ITI Group's extensive network of offices and employees across India to reach a broad base of investors.
Fund Managers
ITI Mutual Fund has an experienced team of fund managers overseeing its equity, debt, and hybrid schemes. The investment team is led by:
- Mr. Rajesh Bhatia: Chief Investment Officer (CIO).
Other key fund managers include:
- Mr. Rohan Korde: Fund Manager (Equity).
- Mr. Dhimant Shah: Fund Manager (Equity & Hybrid).
- Mr. Laukik Bagwe: Fund Manager & Head of Fixed Income.
- Mr. Alok Ranjan: Fund Manager (Equity).
- Mr. Nilay Dalal: Fund Manager (Debt).
- Mr. Tanay Gabhawala: Fund Manager.
- Mr. Vikrant Mehta: Fund Manager.
- Mr. Vishal Jajoo: Fund Manager.
- Mr. Vikas Nathani: Fund Manager.
This team brings a blend of experience and expertise to manage diverse portfolios under ITI Mutual Fund.
Scope and Investment Philosophy
ITI Mutual Fund's investment philosophy is underpinned by a rigorous and unique framework known as the "SQL Investment Framework" (S-Safety, Q-Quality, L-Liquidity). This framework guides their investment decisions across asset classes.
Their core principles and scope include:
- SQL Investment Framework:
- Safety: Prioritizing capital protection and seeking companies with strong balance sheets and low debt.
- Quality: Focusing on businesses with sustainable competitive advantages, strong management, and consistent earnings.
- Liquidity: Ensuring sufficient liquidity in the portfolio to manage unforeseen events and seize opportunities.
- Long-Term Wealth Creation: A strong focus on creating long-term wealth for investors through disciplined and patient investing, advocating for Systematic Investment Plans (SIPs).
- Research-Driven Approach: Utilizing in-depth research to identify fundamentally strong companies and securities, with a focus on bottom-up stock selection.
- Diversified Portfolios: Constructing well-diversified portfolios across sectors and market capitalizations to manage risk effectively.
- Innovation and Niche Products: Aiming to introduce innovative and unique products that align with the evolving economic landscape and investor needs.
- Integrity and Transparency: Operating with high levels of integrity and transparency, aiming to build long-term trust with investors.
- Investor-Focused Solutions: Providing simple and clear investment solutions that help investors connect their money with their financial goals.
Part 2: List of Funds with Brief Explanation
ITI Mutual Fund offers a range of schemes across equity, debt, and hybrid categories. Here's a categorized list of some of their prominent active funds:
Equity Funds:
- ITI Flexi Cap Fund: An open-ended equity scheme with the flexibility to invest across large-cap, mid-cap, and small-cap stocks, allowing for dynamic asset allocation based on market opportunities and the fund manager's views.
- ITI Multi Cap Fund: An open-ended equity scheme investing across large-cap, mid-cap, and small-cap stocks, with specific minimum allocations to each market capitalization, ensuring diversification.
- ITI Small Cap Fund: An open-ended equity scheme investing predominantly in small-cap stocks, aiming for high growth opportunities from smaller, emerging companies, typically associated with higher risk and volatility.
- ITI Mid Cap Fund: An open-ended equity scheme investing predominantly in mid-cap stocks, targeting companies with strong growth potential that are generally past the early-stage volatility of small caps.
- ITI Large Cap Fund: An open-ended equity scheme investing predominantly in large-cap companies, focusing on established market leaders for stable growth and long-term capital appreciation.
- ITI ELSS Tax Saver Fund: An Equity Linked Savings Scheme (ELSS) that invests predominantly in equities and qualifies for tax deductions under Section 80C of the Income-tax Act, 1961, with a statutory lock-in period of three years.
- ITI Value Fund: An open-ended equity scheme that follows a value investment strategy, seeking long-term capital appreciation by investing in fundamentally strong companies available at attractive valuations.
- ITI Focused Equity Fund: An open-ended equity scheme investing in a concentrated portfolio of up to 30 stocks across market capitalizations, focusing on high-conviction ideas.
- ITI Banking and Financial Services Fund: A sectoral/thematic equity fund investing predominantly in equity and equity-related instruments of companies engaged in the banking and financial services sector.
- ITI Pharma and Healthcare Fund: A sectoral/thematic equity fund investing predominantly in equity and equity-related instruments of companies in the pharmaceutical and healthcare sectors.
Debt Funds:
- ITI Liquid Fund: An open-ended liquid scheme that invests in very short-term money market and debt instruments, providing high liquidity and aiming for stable, low-risk returns.
- ITI Overnight Fund: An open-ended debt scheme that invests in overnight securities, offering maximum liquidity and minimal interest rate risk.
- ITI Ultra Short Duration Fund: An open-ended debt scheme investing in debt instruments with very short maturities (Macaulay duration between 3 to 6 months), suitable for short-term parking of funds.
- ITI Short Term Debt Fund: An open-ended short-term debt scheme investing in debt instruments with a Macaulay duration between 1 year to 3 years.
- ITI Dynamic Bond Fund: An open-ended dynamic debt scheme that dynamically manages its portfolio duration based on interest rate views and market conditions, aiming to generate income along with attendant liquidity.
- ITI Banking & PSU Debt Fund: An open-ended debt scheme predominantly investing in debt instruments issued by banks and Public Sector Undertakings (PSUs), Public Financial Institutions, and Municipal Bonds.
Hybrid Funds:
- ITI Balanced Advantage Fund: An open-ended hybrid dynamic asset allocation fund that dynamically adjusts its allocation between equity and debt based on market valuations and other parameters, aiming for optimized risk-adjusted returns.
- ITI Arbitrage Fund: An open-ended hybrid scheme that aims to generate returns by capitalizing on arbitrage opportunities between the cash and derivatives segments of the equity markets, with the balance invested in debt and money market instruments, offering relatively low risk and tax efficiency.
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