|ITI Mutual Fund has launched a new fund named as ITI Long Term Equity Fund, An open ended equity linked saving scheme with a statutory lock in of 3 years and tax benefit. The New Fund Offer (NFO) price for the scheme is Rs 10 per unit. The new issue will be open for subscription from 15 July 2019 to 14 October 2019.
The investment objective of the Scheme is to provide long-term capital appreciation by investing predominantly in equity and equity related securities.
The scheme will have two plans: regular and direct, each plan will have the following options:
Growth and Dividend Option (with Reinvestment and Payout options)
The scheme would allocate 80%-100% of assets in equity & equity related securities with high risk profile and invest upto 20% of asset in short term debt & money market instruments with low to medium risk profile.
The minimum application amount is Rs 500 and in multiples of Rs. 500 thereafter.
The minimum additional purchase amount is Rs 500 and in multiples of Rs. 500 thereafter.
Entry Load: Not Applicable.
Exit Load: NIL
Benchmark Index for the scheme is Nifty 500 Total Return Index.
The fund managers of the scheme are George Heber Joseph & Pradeep Gokhale.
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