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ITI Mutual Fund announced the launch of ITI Flexi Cap Fund, an open-ended scheme on January 27, 2023. Those looking to park their money in debt fund instruments may invest their money through the New Fund Offer (NFO) open till February 10, 2023. The scheme would then reopen for continuous repurchase and sale on or before February 24, 2023. The allotment of units will be completed within five business days from the closure of the NFO period.
The scheme will have two plans, i.e., Direct Plan and Regular Plan with a common portfolio and respective Net Asset Values (NAVs). The idea behind investing in this open-ended scheme is to generate long-term capital appreciation from a diversified portfolio that dynamically invests in equity and equity-related securities of companies across various market capitalisation. However, there can be no assurance that the investment objective of the scheme would be achieved.
Under normal circumstances, the asset allocation pattern will be as under
| Instruments | Indicative allocations (% of net assets) | Risk Profile | |
| Maximum | Maximum | High/Medium/Low | |
| Equity and Equity Related Instruments across market capitalization | 100% | 65% | High |
| Listed Preference Shares | 10% | 0% | Medium to High |
| Debt and Money Market Instruments | 35% | 0% | Low to Medium |
| Units issued by REITs and InvITs | 10% | 0% | Medium to High |
The performance of the scheme will be benchmarked with the Nifty 500 Total Return Index.
The minimum subscription amount investors may put in this fund is ₹5000. The Net Asset Value (NAV) has been capped at ₹10 per unit during the NFO period. The scheme has been labelled as “Very Risky” as per the details mentioned in the Scheme Information Document and is best suited to investors willing to stay invested for a long period. However, investors must consult their financial advisers if in doubt about whether the product is suitable for them
The fund will be managed by Dhimant Shah and Rohan Korde. Further, Tanay Gabhawala is the dedicated fund manager for making overseas investments as permitted under the regulations, guidelines and circulars issued from time to time. There is no entry load applicable. However, the fund house will charge an exit load of one per cent if investors redeem their investors on or before the completion of 12 months from the date of allotment of units.