ITI Mutual Fund Launches ITI Mid Cap Fund NFO
ITI Mutual Fund has launched a new fund offer (NFO) in the category of midcap funds. ITI Mid Cap Fund will be open for subscription from February 15 to March 1, 2021.
What are midcap funds?
Midcap funds have to invest at least 65% of their assets in stocks of midcap companies. Midcap stocks are stocks of companies ranked between 101 and 250 by way of highest market capitalisation as classified by AMFI.
Asset Allocation
| Instruments | Indicative Allocation (% of net assets) | Risk Profile | |
| Minimum | Maximum | High/Medium/Low | |
| Equity & Equity related instruments of midcap companies | 65 | 100 | High |
| Other Equity & Equity related instruments | 0 | 35 | High |
| Debt and Money Market Instruments | 0 | 35 | Low to Medium |
| Units issued by REITs & InvITs | 0 | 10 | Medium to High |
Benchmark
Nifty Midcap 100 TRI
The index’s objective is to capture the movement of the midcap segment of the market and be a benchmark.
Fund Details
This mutual fund scheme will have direct and regular plans. Under both the plans, there will be growth and dividend options.
Other details of the fund are as follows:
| Name of the Fund | ITI Mid Cap Fund |
| Type of Scheme | An open-ended equity scheme that will invest in midcap stocks. |
| Benchmark | Nifty Midcap 100 TRI |
| NFO Dates | February 15 to March 1, 2021 |
| 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 Redemption Amount | Rs. 1,000 and in multiples of Re. 1 after that or the account balance, whichever is lower. |
| Minimum SIP Application Amount | 12 instalments of Rs. 500 each and in multiples of Re.1 after that or 6 instalments of Rs. 1,000 each and in multiples of Re.1 after that |
| Entry Load | Not applicable |
| Exit Load | • 1% if redeemed or switched out on or before completion of 12 months from the date of allotment of units
• Nil if redeemed or switched out after completion of 12 months from the date of allotment of units. |
| Plans | Direct and Regular Plan |
| Options | Direct and Regular Plans offers two options (i) Growth Option (ii) Dividend Option (with Reinvestment and Payout options) |
Fund Managers
George Heber Joseph: Mr Joseph has over 17 years of experience in fund management, capital markets and equity research. He has been working with this AMC since November 2018.
He co-manages the following funds:
- 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
- ITI Large Cap Fund
Pradeep Gokhale: Mr Gokhale has experience for over 24 years in credit evaluation and ratings, fund management and equity research. He has been working with ITI AMC since November 2018.
He co-manages the following funds:
- ITI Multi-Cap Fund
- ITI Long Term Equity Fund
- ITI Balanced Advantage Fund
- ITI Small Cap Fund
- ITI Large Cap Fund
Happy Investing!