Mutual Fund News : ITI Mutual Fund files offer document for Banking & PSU Debt Fund

Publish Date:

ITI Mutual Fund has filed offer document with SEBI to launch an open ended debt scheme named ‘ITI Banking & PSU Debt Fund'.

The investment objective of the scheme is to generate income / capital appreciation through investments in debt and money market instruments consisting predominantly of securities issued by entities such as Scheduled Commercial Banks (SCBs), Public Sector undertakings (PSUs), Public Financial Institutions (PFIs), Municipal Corporations and such other bodies.

The performance of the scheme will be benchmarked against CRISIL Banking and PSU Debt Index.

The New Fund Offer price is Rs 10 per unit and the minimum application amount for initial purchase is Rs 5000 and in multiples of Re 1 thereafter.

The scheme offers growth and dividend options and seeks to collect a Minimum Target Amount of Rs 20 crore.