ITI Mutual Fund Eyes Rs 1 Lakh Crore AUM with India's Economic Boom

ITI Mutual Fund aims to achieve an AUM of Rs 1 lakh crore within five years, leveraging India's strong macroeconomic growth. The company's assets grew 90% year-on-year to Rs 8,763 crore as of July 2024. Despite potential market corrections, ITI MF remains optimistic about mid and small cap sectors.

ITI Mutual Fund is positioning itself for significant growth, setting a target to reach an assets under management (AUM) of Rs 1 lakh crore within the next five years. The company attributes this ambitious aim to India's robust macroeconomic fundamentals.

A J-curve trend, which initially dips before a dramatic rise, best describes ITI Mutual Fund's growth strategy. As of July 2024, the company's AUM surged nearly 90% year-on-year to Rs 8,763 crore.

Chief Investment Officer Rajesh Bhatia expressed optimism, noting that India's growth—pegged at 7-8% annually—presents strong opportunities for the mutual fund industry. Despite concerns about potential market corrections, Bhatia emphasized that mid and small-cap segments are capturing the growth story best.

(With inputs from agencies.)