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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

Invest in direct mutual funds

  • Enjoy 0% commission
  • SIP starting at ₹500

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!

Investment in securities market are subject to market risks, read all the related documents carefully before investing. Please read the Risk Disclosure documents carefully before investing in Equity Shares, Derivatives, Mutual fund, and/or other instruments traded on the Stock Exchanges. As investments are subject to market risks and price fluctuation risk, there is no assurance or guarantee that the investment objectives shall be achieved. NBT do not guarantee any assured returns on any investments. Past performance of securities/instruments is not indicative of their future performance.

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