ITI Mutual Fund (MF) has launched the ITI Ultra Short Duration Fund, an open ended ultra-short term debt scheme investing in instruments such that the Macaulay duration of the portfolio is between 3 months to 6 months. The NFO opens for subscription on April 19, 2021, and closes on April 20, 2021. The Entry load and Exit Load is nil for the scheme. The minimum subscription amount is Rs 5000 and in multiples of Re 1 thereafter.
The performance of the Scheme will be benchmarked with NIFTY Ultra Short Duration Debt Index and its fund manager is Vikrant Mehta.
The investment objective of the Scheme is to generate regular income and capital appreciation through investment in a portfolio of short-term debt & money market instruments such that the Macaulay duration of the portfolio is between 3-6 months.