ITI Mutual Fund has launched a New Fund Offer (NFO) for ITI Liquid Fund. The NFO period begins on April 24, 2019 and will close on April 24, 2019. This scheme aims to short-term income for its investors by investing and debt and money market instruments with a maturity of up to 91 days. Liquid schemes carry a very low risk quotient owing to the short maturity period.
Asset Allocation of ITI Liquid Fund
Under normal circumstances, ITI Liquid Fund will allocate its assets in the following manner:
| Asset Class | Asset Allocation | |
| Minimum | Maximum | |
| Money market instruments with a maturity of up to 91 days | 0% | 100% |
| Securitised debt instruments with a residual maturity of up to 91 days | 0% | 30% |
Money market instruments include commercial papers, commercial bills, treasury bills, Tri-party Repo, government securities having an unexpired maturity of up to 1 year, call or notice money, certificates of deposit, issuance bills and any other like instruments as specified by the RBI (Reserve Bank of India) from time to time.
Benchmark of ITI Liquid Fund
The performance of ITI Liquid Fund will be benchmarked against CRISIL Liquid Fund Total Returns Index (TRI). The return details of the index are as follows:
| Index | 1 Year Return | 3 Year Return | 5 Year Return |
| CRISIL Liquid Fund Index (TRI) | 7.63% | 7.20% | 7.72% |
(Data as on March 31, 2019; Source: Pulse Labs)
Fund Managers of ITI Liquid Fund
ITI Liquid Fund will be jointly managed by Mr. Milan Mody and Mr. George Heber Joseph.
Key information about ITI Liquid Fund NFO
| NFO period | April 24, 2019 – April 24, 2019 |
| Minimum Application Amount | Rs. 5,000 |
| Exit load | Nil |
| Benchmark | CRISIL Liquid Fund Index (TRI) |
| Fund Manager | Milan Mody and George Heber Joseph |
