Hyderabad, Aug 19 : ITI Mutual Fund on Monday announced the launching of ‘ITI Arbitrage Fund.’
The NFO ( New Fund Offer) will open for subscription from Tuesday and will close on September 3, the company said in a statement here.
The fund will be benchmarked with Nifty 50 Arbitrage Index and will predominantly invest in arbitrage opportunities available in the equity markets and balance in high quality debt securities with maturities less than 91 days.
This fund is suitable for Investors with a short to medium term investment horizon and are looking for an alternate option to bank fixed deposits/liquid funds,” George Heber Joseph, CEO and CIO, ITI Mutual Fund said.
The scheme will be invested in equity and equity related instruments including derivatives with a minimum of 65 per cent and maximum upto 100 per cent.
The minimum initial investment in the scheme will be Rs 5,000 and multiples of Re 1 thereafter. The fund also provides a minimum additional investment of Rs 1,000 and in multiples of Re 1 thereafter.(UNI)