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ITI Mutual Fund launches Ultra Short Duration Fund: NFO closes on May 3, 2021

20 April 2021
2 minutes

ITI Mutual fund is launching a new fund offer for ITI Ultra Short Duration Fund. It is open for subscription between April 19 and May 3, 2021.

What are Ultra Short Duration Funds?

Ultra-short duration funds are fixed income mutual fund schemes that invest in debt and money market securities such that the Macaulay Duration of the scheme portfolio is 3 months to 6 months. 

Macaulay duration is the weighted average time period by which an investor would get back the money invested in the bond from the interest payments on the bond as well as principal repayment. 

Indicative Asset Allocation

Instruments  Indicative allocations (% of net assets) Risk Profile
Maximum  Minimum High/Medium/Low
Debt and Money Market Instruments* 100% 0% Low to Medium

Benchmark

NIFTY Ultra Short Duration Debt Index 

This index is one of the 13 indices that form the NIFTY Fixed Income Aggregate Index series and together measures the performance of the aggregate debt portfolio.

Fund Details

Scheme Name ITI Ultra Short Duration Fund
Type of scheme An open ended ultra-short term debt scheme investing in instruments such that the Macaulay duration of the portfolio is between 3 months to 6 months
NFO Dates April 19 to May 3, 2021
Fund Managers Mr Vikrant Mehta
Minimum Amount for Application Rs. 5,000/- and in multiples of Re. 1
Minimum Additional Application Amount Rs. 1,000/- and in multiples of Re. 1
Minimum Redemption Amount Rs. 1,000 and in multiples of Re. 1 after that or the account balance,  whichever is lower. 

There will be no minimum redemption criterion for unit-based redemption.

Load Entry Load – Not Applicable 

Exit Load – Nil 

Plans
  • Direct Plan
  • Regular Plan 
Options Both Direct and Regular Plan(s) offer:

  • Growth Option
  • Dividend Option
Minimum SIP 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

Fund Managers

Vikrant Mehta:  

Mr Mehta had joined ITI AMC in January 2021 and has an experience of more than 25 years in fixed income markets. 

Other funds managed by him:

  • Co-Fund Manager of ITI  Liquid Fund
  • Co-Fund Manager of ITI  Overnight Fund
  • Co-Fund Manager of ITI Arbitrage Fund
  • Co-Fund Manager of ITI  Banking & PSU Debt  Fund
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