About Company
ITI Mutual Fund
ITI Mutual Fund, established in 2018, is an emerging player in the Indian asset management industry, backed by The Investment Trust of India Limited. Managing an AUM of over ₹11,300 crore, the AMC focuses on a research-driven investment philosophy aimed at identifying mispriced securities with long-term growth potential. Under the leadership of CEO Jatinder Pal Singh and CIO Rajesh Bhatia, the company offers a diverse product suite of over 20 schemes, including equity, debt, and hybrid options. Known for its agile investment approach, ITI Mutual Fund emphasizes risk-adjusted returns and expanding its digital footprint to serve retail investors across India.
Fund Snapshot
| Category | Equity Long-Short Fund |
|---|---|
| Benchmark | Nifty 50 (TRI) Index |
| Subscription | Daily (Business Days) |
| Inception Date | 10 November 2025 |
| SIF ID | SIF-21 |
| Type | Interval Strategy |
Strategy Overview
Diviniti is positioned as an equity-oriented long-short strategy with a strong bias toward long equity exposure.
Key elements of the structure:
- Predominant allocation to equity and equity-related securities across market capitalisations
- Limited use of short exposure through equity derivatives as permitted under the mandate
- Minimal allocation to cash for liquidity management
- No active unhedged short derivative exposure in the current portfolio construct
With ~95% allocation to equity, the strategy behaves closer to a high-equity portfolio, with derivatives used selectively rather than as a core driver.
Objective
The strategy aims to:
- Generate long-term capital appreciation through diversified equity exposure
- Use derivative instruments selectively to manage positions and enhance efficiency
Subscription Details
- Open on all business days
- Applications received before 3:00 PM → same-day NAV
- After 3:00 PM → next business day NAV
- Minimum investment (NFO): ₹10 lakh (PAN-level)
- Additional investments allowed from ₹25,000 after meeting the minimum threshold
Redemption Details
- Allowed on all business days
- Before 3:00 PM → same-day NAV
- After 3:00 PM → next business day NAV
- No lock-in
- Exit load:
- 0.50% if redeemed within 6 months
- Nil after 6 months
- Subject to maintaining ₹10 lakh PAN-level holding under SIF
Portfolio Allocation
| Asset Class | Instrument Type | Allocation |
|---|---|---|
| Equity | Nifty 50 | 95% |
| Cash | Cash / Equivalents | 5% |
| Total | — | 100% |
Portfolio Construction Insights
- High equity exposure (95%) indicates primary reliance on market direction for returns
- Limited derivative usage suggests a low emphasis on hedging or short-driven alpha
- Absence of unhedged short exposure in the current portfolio reduces complexity but also limits downside protection mechanisms
- Cash allocation (5%) is maintained for liquidity rather than tactical allocation
Overall, the structure aligns more with an equity-focused strategy with optional derivative overlay, rather than a balanced long-short framework.
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Jatinder Pal Singh
Jatinder Pal Singh, known as JP, took over as CEO of ITI Mutual Fund on January 1, 2025, succeeding Hitesh Thakkar. A seasoned industry veteran with over 25 years of experience, Singh previously held key leadership roles as Chief Marketing Officer at Mahindra Manulife Mutual Fund, as well as senior positions at Morgan Stanley Investment Management and HSBC Asset Management India. He is a Chartered Accountant (ACA) and a graduate of the Institute of Cost and Works Accountants of India (ICWAI).
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Diviniti seeks to generate long-term capital appreciation primarily through investments in equity and equity-related securities. The strategy may also use derivative instruments selectively to improve portfolio efficiency and manage specific market exposures.
The strategy maintains a highly equity-focused portfolio, with approximately 95% allocated to Nifty 50 equities and 5% held in cash or cash equivalents for liquidity management. This structure makes equity performance the primary driver of returns.
While the mandate permits limited short exposure through equity derivatives, the current portfolio does not maintain active unhedged short positions. Derivatives are used selectively rather than serving as a major source of return generation.
Investors can subscribe to or redeem units on any business day. Transactions submitted before 3:00 PM are processed at the same day's NAV, while those submitted after 3:00 PM receive the next business day's NAV.
The strategy has no lock-in period. However, an exit load of 0.50% is applicable if units are redeemed within six months of investment. No exit load is charged on redemptions made after six months, subject to applicable SIF investment requirements.