ITI Balanced Advantage Fund, an equity oriented balanced fund, which was open for subscription until December 23 has mopped up Rs.164 crore during its NFO.
ITI Mutual Fund started its operations in April 2019. So far, ITI Mutual Fund has launched 5 schemes - ITI Multi Cap Fund, ITI Long Term Equity Fund (ELSS- Tax Saving Fund), ITI Arbitrage Fund, ITI Liquid Fund and ITI Overnight Fund. ITI Balanced Advantage Fund is the sixth NFO that the fund house has launched.
In a press release, George Heber Joseph, CEO and CIO said, “We are very happy with the positive response that we have received in the NFO. We are focusing on T30 towns and few B30 locations from where we have got good traction. The overall response from the PAN India distributors was very encouraging and that clearly reflects in the NFO collection.”
