ITI Mutual Fund launches Conservative Hybrid Fund

ITI Mutual Fund has launched ITI Conservative Hybrid Fund. The NFO is open for subscription and will close on March 7. The fund will invest in debt instruments and also in Nifty50 Index stocks. The fund will be jointly managed by Vikrant Mehta and Pradeep Gokhale.

Announcing the launch of the NFO, George Heber Joseph, Chief Executive Officer and Chief Investment Officer, ITI Mutual Fund said, “The fund will have a minimum 75% of the exposure towards high quality debt securities and the remaining balance will be invested in equity and equity related instruments of companies belonging to NIFTY50 Index. Equity exposure will range between 10-25% of the AUM and will be dynamically managed to give investors a smooth investment experience.”

This is the 16th scheme launched by the ITI AMC in its two years of journey. The current AUM of the fund house is Rs 2,661 crore as on January 31. Out of the total AUM, equity accounted for Rs 1,869 crores while hybrid and debt schemes accounted for Rs 580 crore and Rs 212 crore respectively. The geographical spread of the AUM is well diversified with top five cities accounting for 38.25%, next 10 cities with a share of 23.70%, next 20 cities with a share of 18.18%, next 75 cities with a share of 15.15% and followed by others with a share of 4.72%.