January 30, 2026
RA Jainee
ITI Business Cycle Fund – Direct | Growth
📌 Fund Snapshot & Key Details
| Particulars | Details |
|---|---|
| Fund House | ITI Mutual Fund |
| Scheme Type | Open-ended |
| Category | Equity: Thematic – Business Cycle |
| Benchmark | NIFTY 500 TRI |
| NFO Opens | 13 February 2026 |
| NFO Closes | 27 February 2026 |
| Plan / Option | Growth, IDCW |
| Minimum Investment (Rs.) | 5000 |
| Exit Load | 0.5% if redeemed within 3 months |
| Lock-in Period | NA |
| Riskometer | Very High |
| Registrar | KFin Technologies Ltd. |
⚖️ Sahifund NFO Review
PLUS
• Dynamic allocation across sectors aligned to different stages of economic cycles
• Ability to rotate between cyclicals, defensives and growth segments as conditions change
• Benchmark (Nifty 500) offers wide investible universe across market caps
• Potential to outperform diversified funds during clear business cycle upswings
• Experienced fund management team with research and cycle-focused background
MINUS
• Performance heavily dependent on correct cycle identification and timing
• Higher portfolio churn possible, increasing volatility
• Can underperform in range-bound or uncertain macro environments
• Not rules-based; relies on fund manager discretion
• High minimum investment (Rs. 5000) limits accessibility
Sahifund View (Decisive Line)
A high-risk, timing-dependent thematic strategy that can add value in clear economic cycles but demands patience and conviction from investors.
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⏱️ Last Updated: 27 January 2026, 10.00 AM
📊 Sahifund Interpretation of the Benchmark
NIFTY 500 TRI
The NIFTY 500 TRI represents the top 500 companies by free-float market capitalisation, covering large, mid and small caps across sectors. It serves as a broad proxy for India’s equity market.
Benchmark Behaviour Snapshot
• Strong long-term compounding (5Y TRI ~16.9%) reflecting India’s economic growth
• Moderate volatility (5Y Std Dev ~14.3)
• High correlation with Nifty 50, but broader participation from mid and small caps
• Performs best during sustained economic expansion phases
Sahifund Insight:
The benchmark rewards long-term market participation, but does not capture tactical sector rotations—creating room for business-cycle strategies to add alpha.
🧠 Investment Strategy – Explained Simply
The scheme seeks to generate long-term capital appreciation by dynamically allocating across sectors and stocks based on different phases of the business cycle—early recovery, expansion, peak, slowdown and recovery again.
In simple terms:
➡️ The fund attempts to move money ahead of the economy, not just follow the index.
👤 Sahifund Interpretation of Fund Managers & Their Performance
Alok Ranjan
Brings deep experience across equity fund management, research leadership and advisory roles. Known for macro-driven and cycle-aware investing frameworks.
Nilay Dalal
Experience across AMC, insurance and technology roles adds analytical and risk-management depth to portfolio construction.
Sahifund Assessment:
Given the thematic and active nature, manager judgement will be the key driver of returns—both on the upside and downside.
🎯 Suitable for Which Investors?
Suitable if you:
• Understand economic cycles and sector rotations
• Already hold diversified core equity funds
• Can tolerate periods of underperformance
• Have a long-term horizon (5+ years)
Avoid if you:
• Prefer predictable or steady returns
• Are new to equity investing
• Are uncomfortable with high volatility
• Expect index-like performance
❓ Should You Invest in This NFO?
Yes, selectively.
ITI Business Cycle Fund can work as a satellite allocation for investors who believe in active cycle management. It should not replace core diversified equity funds, but can enhance returns when cycles are identified correctly.
Final Word:
A bold, active strategy—rewarding when cycles align, punishing when they don’t.
⚠️ Disclaimer
Mutual fund investments are subject to market risks. Read all scheme-related documents carefully.
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