A new wealth creation journey begins in the MF industry

April 16th, 2019: a new wealth creator – ITI Mutual Fund was welcomed into the MF industry by a galaxy of stars including Mr Rakesh Jhunjhunwala (India’s most famous wealth creator), Ramesh Damani (market expert) and Nimesh Shah (Chairman, AMFI). Over 400 participants comprising industry top professionals, promoters of various businesses and 300 IFAs from 36 cities attended the event.

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George Heber Joseph, CEO & CIO, ITI MF, lights the ceremonial lamp to signify the commencement of ITI Mutual Fund’s business in India. Rakesh Jhunjhunwala’s lighting the lamp delivers a powerful message from the biggest wealth creator to the newest wealth creator: “May the force be with you”

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Over 300 IFAs from 36 cities across the country came down to Mumbai to participate in the launch event. IFA engagement of ITI Mutual Fund seems to have got off to a strong start indeed!

In his inaugural address, Mr. Sudhir Valia, Executive Director Sun Pharmaceuticals Industries Ltd, mentor & one of the main shareholders of ITI Group, shared his vision for the group’s first foray into the mutual fund category. ITI Group currently has several ventures in different financial areas including asset finance, investment banking, alternative investment funds, fixed income business etc. He said “Mutual Fund business has good long term prospects. We want to be a differentiated player in the market place with relevant long term product strategies in place”. Mr. Valia concluded by expressing his trust in George’s leadership and the expertise of the ITI Mutual Fund team to lead the company to be one of the best performers in an INR 24-trillion mutual fund industry.

In his address to the audience, George said “Buying a good quality company at an appropriate price and holding on to it for long term is the key to investment success. We would be focusing on the underlying micro-factors, balance sheets, promoter credibility, leverage levels and growth prospects before investing in a company”.

Describing the focus of the fund house, he said, “ITI Mutual Fund believes in transparent communication and product innovation. We will be focusing on quality in all aspects of our business and want to build a world class organization with excellent people, process and services backed by a proven investment philosophy”.

He clearly articulated that ITI Mutual Fund will follow an investor-first approach which involves creating products as per investor needs and not flooding the market with products that are not needed by the investor.

All of this is embodied by the company’s SQL philosophy. For equity, SQL stands for Margin of Safety, Quality of the Business and Low Leverage. For fixed income, SQL stands for Safety, Quality of the Business, Liquidity.

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Star studded panel deliberates the way forward for the MF industry and for markets. The Big Bull, while remaining very bullish, asked IFAs to pass on a message of caution to investors – caution about volatility accompanying every wealth creation journey and how the two cannot be separated.

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Simple yet impactful tag line defines what ITI Mutual Fund is all about: “Long-term wealth creators”. A prudent wealth creator with a richly experienced investment team and an unwavering long term focus.

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