ITI Mutual Fund files offer document for Bharat Consumption Fund
ITI Mutual Fund has filed offer document with SEBI to launch an open-ended equity scheme named ‘ITI Bharat Consumption Fund'. The New Fund Offer price will be Rs 10. Entry load will be nil. Exit load will be 0.50% -if redeemed or switched out on or before completion of 3 months from the date of allotment of units and Nil- if redeemed or switched out after completion of 3 months from the date of allotment of units. The Scheme offers Growth Option and Income Distribution Cum Capital Withdrawal Option and seeks to collect a Minimum Target Amount of Rs 10 crore.
The performance of the scheme will be benchmarked against Nifty India Consumption (TRI). The minimum application amount is Rs 5000 and in multiples of Re 1 thereafter.
The investment objective of the scheme is to generate long-term capital appreciation by investing primarily in Equity and Equity related securities of companies engaged in consumption and consumption related activities or allied sectors.
