ITI Mutual Fund enters Rs 2,000 crore AUM Club

ITI Mutual Fund crossed Rs 2,000 crore AUM or Assets Under Management as of August 31. ITI Mutual Fund launched its operations in 2019. Out of the total of Rs 2,034 crore, equity funds accounted for Rs 1,460 crore while hybrid and debt schemes accounted for Rs 230 crore and Rs 344 crore respectively.

“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,” said George Heber Joseph, CEO and CIO, ITI Mutual Fund.

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.

“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 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.