Assets under management (AUM) of ITI Mutual Fund crosses Rs. 2,000 crores
Equity AUM stands at Rs. 1,460 crores
Top 5 cities bring in 42.88% of AUM
AMC has its own offices across 27 centres.
Mumbai, September , 2021:ITI Mutual Fund is one of the new entrants in the mutual fund industry and has shown significant growth since it launched its operations in 2019. The Assets Under Management (AUM) of the fund house has crossed Rs. 2,000 crores as of August 31st, 2021.
Out of the total of Rs. 2,034 crores as on 31st August, 2021, Equity AUM accounted for Rs. 1460 crores while Hybrid and Debt schemes accounted for Rs. 230 crores and Rs. 344 crores respectively.
Commenting on the performance of the fund house, George Heber Joseph, CEO and CIO, said, “It gives us great satisfaction that the investors have shown immense confidence in the management of the AMC. We are focussed on generating reasonable returns to investors on a long-term basis. The fund house is guided by the investment philosophy of “SQL”- (S) Margin of safety, (Q) Quality of the business and (L) Low Leverage and is offering a superior investment experience to its investors”.
The geographical spread of the AUM is well diversified with top 5 cities accounting for 42.88%, next 10 cities with a share of 24.18%, next 20 cities with a share of 16.03%, next 75 cities with a share of 13.28% and followed by others with a share of 3.63%, Joseph added.
The fund aims to generate consistent long term returns across funds.
In a short period of time, ITI Mutual Fund has empanelled more than 14,500 MFDs and has set up 27 branches till today.
“Our aim is to be among the Top 10 Mutual Funds in the country in the next 10 years. We want to be known for the excellence in fund performance, transparency and taking care of investors’ interests. We have hired the best and experienced teams across all functions so as to provide the best-in-class service to our partners & investors. We have got a good start and a strong participation from all our partners across India”, Joseph said
About ITI Mutual Fund:ITI Mutual Fund is a dynamic and innovative fund house sponsored by The Investment Trust of India Ltd. and Fortune Credit Capital Ltd.
ITI Mutual Fund offers investor-centric products & high-quality investment solutions to investors seeking long term wealth creation. The main aim of the fund house is to offer superior risk-adjusted returns over the long term.
ITI Mutual Fund has set up a specialised team with the finest minds in the Investment Management, Equity Research and Credit Research space. The agility, no baggage and fresh perspective can help investors get ahead in wealth creation in a rapidly evolving economy.