Hyderabad, December 10, 2019: ITI Mutual Fund has announced the launch of its 6th fund ‘ITI Balanced Advantage Fund’.
The NFO opens on December 9, 2019 and closes on December 23, 2019. The Benchmark Index of the fund is CRISIL Hybrid 50+50 – Moderate Index.
The fund follows a Multi Cap strategy for equity investments and for the debt
component, the fund invests only in high quality debt instruments upto 3 years residual maturity. The fund will be jointly managed by Mr. George Heber Joseph and Mr. Pradeep Gokhale.
“ITI Balanced Advantage Fund is an excellent investment solution for all types of investors
which helps to ride through emotions of greed & fear smoothly. The fund has the potential to deliver consistent long-term risk-adjusted returns & smooth investing experience by dynamically allocating money between equity and fixed income instruments. We are quite excited to offer this product to our IFA partners & investors and this is an outcome of our focus on product innovation" said Mr George Heber Joseph, CEO and CIO, ITI Mutual Fund.
The minimum initial investment in the scheme is Rs. 5000/- and in multiples of Re. 1/-
thereafter. The additional application amount is Rs. 1000/- and in multiples of Re. 1/-
thereafter. The scheme will have a minimum of 65% and maximum 100% allocation in
equity ; equity related instruments including derivatives; between 0% – 35% in debt and
money market instruments and between 0% – 10% in units issued by REITs and InvITs.
There is no exit load for redemption of 10% units allotted, on or before completion of 12
months from the date of allotment of units. Any redemption in excess of the above-
mentioned limit would be subject to an exit load of 1% exit load if redeemed or switched
out on or before completion of 12 months from the date of allotment of units and nil,thereafter.