ITI Mutual Fund on Friday launched a new fund offer (NFO) for its open-ended ITI Flexi Cap Fund benchmarked against Nifty 500 Total Return Index and aimed at long-term capital appreciation.
The NFO will run from January 27 to February 10, 2023. The minimum subscription amount is Rs 5,000, and after that in multiples of Rs 1.
The scheme will predominantly invest in equity and equity-related instruments across market capitalisation—large, mid, and small cap stocks and is ideal for long-term investors.
The fund house said the ITI Flexi Cap Fund will be jointly managed by Dhimant Shah and Rohan Korde.
Commenting on the fund, Rajesh Bhatia, chief investment officer of ITI Mutual Fund, said: “The ITI Flexi Cap Fund offers investors the benefit of staying invested across market caps and diverse sectors.
“With capex cycle expected to increase further, investors can get an opportunity to experience the growth curve across many industries.”
Key Features In A Nutshell
Positive Market Outlook
In a report last year, industry body the Association of Mutual Funds in India (AMFI) said that the number of retail mutual fund folios reached an all-time high of 11,17,60,343 in November 2022, while the inflows from systematic investment plans (SIP) totaled Rs 13,306,49 crore in the month.
In addition, the mutual fund industry's net asset under management (AUM) was Rs 40,37,560.81 crore, and the retail AUMs (equity, hybrid, and solution-oriented schemes) stood at Rs 20,91,586 crore.
On the other hand, the SIP accounts stood at 60,457,429 compared to 59,330,069 in October. Also, the SIP AUM rose to Rs 6,83,851.8 crore in November from Rs 6,64,780.86 crore in October.
In November alone, a total of 21,77,629 new SIPs were registered, suggesting more and more retail investors are choosing the equities market, especially mutual funds, off late for capital gains.
