ITI Group

Funds managed

Fund nameAsset ClassLicense
ITI Long ShortLong Short EquitySEBI AIF Cat 3

About the AMC

  • AMC was incorporated as Fortune Financial Services India Private Limited on June 14, 1991 . It was converted into public company on October 20, 1994. Further the name changed to “The Investment Trust of India Limited” with effect from June 9, 2018.
  • The fund commenced its operations in April 2018.  
  • AUM 130 cr.  And open ended fund.
  • Key staff- Rajesh Bhatia, MD & CIO at ITI Long Short, Last assignment : CIO, Simto Investments, a subsidiary of Tata Investments; proprietary book  , Co-founder & CIO, Heritage India Advisors, Indian advisor to New York based, Heritage Capital, an India long-short equity fund; Senior VP & Head, Portfolio Management Services (PMS), Reliance Capital Asset Management.
  • Rajesh Aynor, fund manager at ITI, prior work experience- Equity Analyst, PNB Met Life Insurance, Mumbai Fund Manager – Offshore, Mirae Asset Global Investment Equity Analyst, Tata Mutual Fund 
  •  Siddhartha Bhotika, fund manager, prior working experience- Equity Analyst/ Economist, Aviva Life Insurance India , Economist at Tata Securities, Morgan Stanley Advantage Services, ICICI Bank, completed CFA program.

Investment Philosophy 

Fund Theme- (open ended)

Fund Objective

• To outperform the Nifty index over a full equity market cycle, while protecting downside during equity market downturns along the way; thus lowering volatility of performance & lowering risks

• Fund focus on long term capital appreciation

Fund Approach:

• Primarily a fundamental driven, stock-picking approach, both on the long and short side

• Each “stock-pick” on absolute return merit; contrast to index hugging

• Comprehensive, yet ever-evolving checklist to filter opportunities; a thinking framework

• Concurrently, tactical navigation of the portfolio across the market cycle; increasing risk exposure in undervalued/oversold markets & reducing risk exposures in overvalued/overbought markets

Media

Print media coverage

“Investors are looking at Long Short funds as a lower downside in the bear market can help fund manager to re deploy the conserved capital to reenter equities at beaten  down valuation”  – Rajesh Bhatia, MD

  • Broadcast media
  1. Title Market Opinion

Media Platform- CNBC TV 18

            Date-March25, 2020

https://mobile.twitter.com/CNBCTV18News/status/1242712434151788545

           (comment- short term view covering repercussion of COVID -19)

  1. Title- Market Will Rise Further Once Coronavirus Issue Subsides

            Media Platform- CNBC TV 18

            Date-Feb24, 2020

          (comment- short term view covering impact, implication due to COVID-19)

Analyst questions

  1. How are you able to outperform the benchmark, what is the source of alpha generation, do you have information advantage, analytical advantage or behavioural advantage?
  2. What is the criterion that you look for while undertaking the tactical position?
  3. Are you long bias, or long short neutral i.e. market neutral?
  4. How do you carry out due diligence process?
  5. What is your fee structure?
  6. If the hedge fund manager values any portion of the portfolio themselves how often are these valuations revised? (i.e the periodicity?)
  7. Does the hedge fund manager have a key person insurance? If so to whom are these policies payable the fund or the AMC?

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