ITI MF Launches Large Cap Fund: NFO Closes on December 18
ITI Mutual Fund is launching a new fund offer for ITI Large Cap Fund. The NFO of the fund opens on December 4 and closes on December 18. The scheme will open on or before December 31 for regular transactions.
Read on to find out more about the fund!
What are large-cap funds?
Large-cap funds are mutual funds that invest most of their assets in stocks of large-cap companies. Large-cap companies are listed companies that are ranked 1 to 100 on the stock exchange in terms of the market capitalisation. The investment universe of large-cap stocks will have companies as defined by the Securities and Exchange Board of India (Sebi) from time to time.
Read more on Groww: Large-Cap Mutual Funds
Investment Strategy
This fund will operate as an open-ended scheme investing in large-cap stocks, predominantly. Below is the indicative asset allocation for the fund:
| Instruments | Indicative Allocation (% of net assets) | Risk Profile | |
| Minimum | Maximum | High/Medium/Low | |
| Equity & Equity related instruments of large-cap companies | 80 | 100 | High |
| Equity & Equity related instruments of other than large-cap companies | 0 | 20 | High |
| Debt and Money Market Instruments | 0 | 20 | Low to Medium |
| Units issued by REITs & InvITs | 0 | 10 | Medium to High |
Benchmark
The scheme will benchmark its performance against the Nifty 100 TRI index. NIFTY 100 represents the major sectors of the economy. It comprises top 100 companies based on full market capitalisation from NIFTY 500.
Fund Details
The mutual fund has direct and regular plans. Investors can opt for growth or dividend options. Under the dividend option, you can choose for dividend payout and dividend reinvestment facility.
Other details of the fund are as follows:
| Name of the Fund | ITI Large-Cap Fund |
| Type of Scheme | An open-ended equity scheme investing in large-cap companies. |
| Benchmark | Nifty 100 TRI Index |
| NFO Dates | Opens on December 4, 2020, and closes on December 18, 2020 |
| Fund Manager | George Heber Joseph, Pradeep Gokhale |
| Minimum Application Amount/Minimum Purchase Amount (including switches) | Rs. 5,000 and in multiples of Re. 1 after that |
| Minimum Additional Investment (including switches) | Rs 1,000 and in multiples of Re 1 after that |
| Minimum SIP (monthly) Application Amount | Rs 500 and in multiples of Re 1 after that |
| Minimum Redemption Amount | Rs. 1,000 and in multiples of Rs. 1 thereafter or the account balance, whichever is lower.
No minimum redemption criterion for unit-based redemption |
| Entry Load | Nil |
| Exit Load | 1%: If redeemed on or before 12 months
Nil: If redeemed after 12 months |
| Plans | Regular Plan and Direct Plan |
| Options | Growth and Dividend Option (Payout, Dividend Reinvestment Option) |
Fund Managers
George Heber Joseph
Mr Joseph has over 17 years of work experience in equity research, fund management and capital markets. He joined ITI AMC in November 2018. Previously he was working as a senior fund manager with ICICI Prudential AMC.
Other funds managed by him are:
- Co-Fund Manager of ITI Liquid Fund
- ITI Multi-Cap Fund
- ITI Long Term Equity Fund
- ITI Arbitrage Fund
- ITI Overnight Fund
- ITI Balanced Advantage Fund
- ITI Small Cap Fund
- ITI Banking & PSU Debt Fund
Pradeep Gokhale
Mr Gokhale has over 24 years of experience in equity research, fund management and capital markets. He joined ITI AMC in November 2018. Prior to ITI AMC, he was working as a senior fund manager with Tata AMC.
Other funds managed by him are:
- Co-Fund Manager of ITI Multi-Cap Fund
- ITI Long Term Equity Fund
- ITI Balanced Advantage Fund
- ITI Small Cap Fund
