personal finance

ITI Mutual Fund launches ITI Balanced Advantage Fund

ITI Mutual Fund has launched its sixth scheme, ITI Balanced Advantage Fund, on Monday. The new fund offer is open from subscription currently and will close on December 23.

The fund will follow a multi cap strategy for equity investments and for the debt component, the fund will invest only in high quality debt instruments up to three years residual maturity. The fund will be jointly managed by George Heber Joseph and Pradeep Gokhale.

The Benchmark Index of the fund is CRISIL Hybrid 50+50 – Moderate Index.

“ITI Balanced Advantage Fund is an excellent investment solution for all types of investors which helps to ride through emotions of greed and fear smoothly. The fund has the potential to deliver consistent long-term risk-adjusted returns and 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 George Heber Joseph, CEO & CIO, ITI Mutual Fund.

The minimum initial investment in the scheme is Rs 5,000 and in multiples of Re 1 thereafter. The additional application amount is Rs 1,000 and in multiples of Re 1 thereafter. The scheme will have a minimum of 65% and maximum 100% allocation in equity and equity-related instruments, including derivatives; between 0% – 35% in debt & 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 limit would be subject to an exit load of 1% if redeemed or switched out on or before completion of 12 months from the date of allotment of units and nil, thereafter.


Leave a Reply