Stocks

ITI MF garners ₹228 cr in mid-cap NFO

Our Bureau Mumbai | Updated on March 24, 2021

ITI Mutual Fund has raised ₹228 crore in its new fund offer on mid-cap fund that closed on March 1.

The fund which was launched on February 15 had attracted about 2,265 distributors from 1,363 locations and have collected over 15,500 applications.

The scheme has reopened for subscription on March 10.

George Heber Joseph, CEO & CIO, ITI Mutual Fund said, “After 3-4 years of underperformance we have seen significant outperformance emerging in the mid-cap segments.

The differential valuations between large caps and mid and small caps offer a significant opportunity for investors to invest in this space and make significant alpha over large cap stocks,” he said.

“We have been bullish in this space since October 19 onwards and we started seeing outperformance in the last few months which we expect to continue for next few years,” he added.

ITI Mid Cap Fund is the tenth NFO of the fund house.

George Joseph, Chief Executive Officer said the fund house has been focusing on T30 towns and few B30 locations from where there has been good traction.

ITI Mid Cap Fund will have a well-diversified portfolio with individual stock exposure capped at three per cent of the AUM at the time of investment.

Published on March 24, 2021

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