ITI AMC launches Large & Mid Cap Fund, NFO now open; check other details

ITI Asset Management Company Ltd. (ITI AMC) announced on Tuesday, August 20, the launch of the ITI Large & Mid Cap Fund, an open-ended scheme that will invest in equity and equity-related securities, primarily in the top 250 companies engaged in India's growth story.

The scheme opened for subscription today, i.e., August 21, 2024, and will close on September 4, 2024.

"The MF scheme aims to offer long-term capital growth by investing in companies actively involved in this dynamic sector, providing investors with a pathway to diversification and capital appreciation," the company said in its press release.

The fund, the press release said, will offer investors an opportunity to invest in India’s growth potential, which is being driven by a trinity of structural, cultural, and digital factors.

The growth is led by a shift towards organised markets due to urbanisation and rising income levels. Increasing discretionary spending due to the rise of nuclear and aspirational families is creating a cultural influence, leading to higher consumption, it added.

The fund will be managed by Vishal Jajoo and Rohan Korde, equity fund managers, who have been associated with ITI Mutual Fund for more than 13 years.

The minimum application amount for the scheme is ₹5,000, while investors can invest through the systematic investment plan (SIP) route for a minimum amount of ₹500. The scheme will not have any entry load charges, while an exit load of 0.5% will be charged to investors if the units are redeemed or switched out on or before the completion of three months from the date of allotment of units.

ITI AMC started operations in April 2019 and now has a presence across 57 locations.

The Investment Trust of India Limited, incorporated in 1991, is the holding company for all ITI Group businesses. ITI stands for ‘The Investment Trust of India Limited’.