ITI Mutual Fund, one of the new entrants in the industry, on Thursday said its assets under management has crossed the Rs 2,000 crore mark at August end.
The fund house, which launched its operations in 2019, is aiming to be among the top 10 mutual funds in the country in the next 10 years, George Heber Joseph, CEO and CIO of ITI Mutual Fund, said in a statement.
Out of the total of Rs 2,034 crore assets under management (AUM) as of August 2021, equity AUM accounted for Rs 1,460 crore, while hybrid and debt schemes accounted for Rs 230 crore and Rs 344 crore, respectively, the statement said.
Joseph 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," he added.
The geographical spread of the AUM is well diversified with the top 5 cities accounting for 42.88 per cent, the next 10 cities with a share of 24.18 per cent and the next 20 cities with a share of 16.03 per cent, Joseph added.
The fund house aims to generate consistent long term returns across schemes.
In a short period, ITI Mutual Fund has empanelled more than 14,500 MFDs and set up 27 branches till today.
ITI Mutual Fund is sponsored by The Investment Trust of India Ltd and Fortune Credit Capital Ltd.