ITI Mutual Fund ‘ has announced the launch.ITI Banking and Financial Services Fund, The NFO will be available for subscription till November 29. The minimum application amount is Rs 5,000 and in multiples of Rs. 1 after that. The fund will be jointly managed by Pradeep Gokhale and Pratibha Agarwal. This is the 15th fund launched by AMC in the two years of its existence.

The fund will invest in banking and financial services which will include banks, insurance companies, rating agencies and new fintechs that are emerging among others.

“Banking and financial services are well regulated in India and have seen steady growth over the years. The fund house is confident of offering a unique Investment Experience for your investors by adopting a diligent and research-backed investment process. Follows the investment philosophy of the fund house
SQL – margin of safety, quality of business and low leverage, and provides its investors with a superior investment experience,” said George Heber Joseph, Chief Executive Officer and Chief Investment Officer, ITI Mutual Fund.

According to the press release, the current AUM of the fund house as on October 31, 2021 is Rs 2,239 crore. Out of the total AUM, the equity AUM is Rs 1,588 crore, while the hybrid and debt schemes have Rs 319 crore and Rs 333 crore. crores respectively.