It’s time to make a hole in your pocket as Fortune Financier’s subsidiary ITI Asset Management Ltd. has come up with new open-ended Equity linked saving scheme along with a shortest lock in period of 3 years, naming ‘ITI Long Term Equity fund’, on that time of a financial year when an assesse has to disclose proofs of investments in order to get exemption under Section 80C.
1 Fund offer opens and closes on: January 3rd, 2018 and January 9th, 2018
2 Type of scheme: Open Ended, Equity Linked Saving Scheme
3 Objective: Equities are always known for providing much healthy returns as compared to debt and money market instruments. Long term appreciation is going to be the reward for moderate risk-appetite investors. However, the fund doesn’t guarantee any returns.
4 Allocation of Assets:
5. Investment Avenues:
- Equity Securities: As per ELSS scheme, the fund will invest in equities and equity related instruments inclusive of Convertible Preference shares, Convertible Debentures and bonds and partly convertible issues.
- Money Market Instruments: These inculcate T-Bills, Commercial Bills, Corporate Debt and other securities which have a maturity period of less than one year.
6. Managed by:
- Mr. Pradeep Gokhale , B.com, CA,CFA
- Mr. George Heber Joseph, ACA, ACMA
7. Investment Strategy: The Fund will be much loyal for the companies that have a good track record and have the potential for future growth. The fund will not be specific to only blue chip companies but diversify its funds in various sectors, debt and other short term instruments. The fund will also invest in initial public offerings and primary market offerings and risk will be managed by diversificaton.
8. Risk Associated and Management Strategy:
- Market Risk: Risk that cannot be mitigated by diversifying the portfolio will be mitigated by the ability to use derivatives for hedging.
- Concentration Risk: Risk that arises due to exposure in few companies will be neutralized by investing in various companies.
- Performance Risk: Risk arises due to change in macro-economic factors of the country will be cared by responding effectively to market movements.