Fundalysisby DARKHORSESTOCKS

Scheme

ITI Business Cycle Fund

Holds 71 companies worth ₹106 Cr in Sept 2026.

  • Fund house

    ITIThe fund house that runs this scheme.

  • AUM

    ₹117 CrITI Business Cycle Fund's AUM at the end of 30 Sept 2026, as AMFI reports it. Up 0.2% on Aug 2026, ₹116 Cr.

  • Largest holding

    ESDS Software Solution LtdESDS Software Solution Ltd is 6.0% of this scheme's NAV.

  • Fund manager

    Alok RanjanRuns its co-manager part since 9 Mar 2026, as the fund house dates it. With Nilay Dalal (co-manager), Rajesh Bhatia (overseas).

Overview(7 Oct 2026)

Fund managers3

  1. Alok RanjanCo-manager · Mar 2026 · 25y · MBA
  2. Nilay DalalCo-manager · Mar 2026 · 14y · MBA
  3. Rajesh BhatiaOverseas · Mar 2026

    Key facts

    Benchmark
    Nifty 500 Total Return Index
    Risk
    Very High
    Expense
    Regular 3.39% · Direct 1.63%
    Exit load
    0.50% if redeemed or switched out on or before completion of 3 months from the date of allotment of units ; Nil, if redeemed or switched out after completion of 3 months from the date of allotment of units.
    Started
    9 Mar 2026
    Minimum
    ₹5,000

    Source.Its Scheme Summary Document as of 7 Oct 2026 at AMFI.

    What changed(4 changes)

    Jul 2026

    1 change
    1. Expense ratio
      30 JulRegular 3.76% → 3.51%Direct 2% → 1.76%

    Jun 2026

    1 change
    1. Expense ratio
      29 JunRegular 2.38% → 3.76%Direct 0.62% → 2%

    May 2026

    1 change
    1. Expense ratio
      30 MayRegular 2.44% → 2.38%

    Source.Its filings at NSE, since Mar 2026.

    Fund managers over time(Mar 2026 – now)

    1. Alok Ranjan
    2. Nilay Dalal
    3. Rajesh Bhatia
    MainCoSlice
    Fig. 1.Who ran it when: each manager from the date the fund house gives, or the first document listing them where it gives none, to when they left. A slice is part of it: overseas, gold and silver, or arbitrage.

    Costs(Mar 2026 – Oct 2026)

    Every change to the expense ratio, newest first.
    5 changesRegularDirectΔ pt
    30 Jul 20263.51%1.76%0.24
    29 Jun 20263.76%2.00%1.38
    30 May 20262.38%0.62%0
    29 Apr 20262.44%0.62%0.16
    30 Mar 20262.34%0.46%–
    Direct plan, 30 Jul 2026
    1.76%
    Regular plan 3.51% · Exit load 0.50% if redeemed or switched out on or before completion of 3 months from the date of allotment of units ; Nil, if redeemed or switched out after completion of 3 months from the date of allotment of units.
    Fig. 1.Total expense ratio a year, each plan's, as its Scheme Summary Documents state it, filing by filing at NSE. A change holds until the next.

    Objective and risk(7 Oct 2026)

    Objective

    The Investment objective of the Scheme is to generate long-term capital appreciation by investing predominantly in equity and equity related securities through dynamic allocation between various sectors and stocks at different stages of business cycles in the economy. However, there can be no assurance that the investment objective of the scheme would be achieved.

    Risk, type and benchmark

    Riskometer
    Very High
    At launch
    Very High
    Type
    An open ended equity scheme investing in sector based on its business cycle
    Benchmark
    Nifty 500 Total Return Index

    Asset allocation it may hold% of NAV

    1. Equity, Units issued by REITs and Equity Related Instruments of companies engaged in business cycle activities or allied sectors
      Allowed80–100%
    2. Other equity and equity related securities other than above
      Allowed0–20%Holds91.3%
    3. Debt and Money Market Instruments
      Allowed0–20%Holds8.7%
    4. Units issued by InvITs
      Allowed0–10%Holds0.0%

    Holds in Sept 2026.91.3% equity · 8.7% debt and cash

    How to invest(7 Oct 2026)

    Buying

    To start
    ₹5,000, then in multiples of ₹1
    To add
    ₹1,000, then in multiples of ₹1
    Systematic
    SIP-Daily/Weekly/Monthly, STP- Daily/Weekly/Monthly/Quarterly, SWP- Monthly/ Quarterly
    Dates
    SIP-Daily (Every Business Day), Weekly (Any Day from Monday to Friday),Monthly (Every Business Day), STP- Daily (Every Business Day), Weekly (Any Day from Monday to Friday),Quarterly (1st or 7th or 14th or 21st or 28th of last month of every quarter), Monthly (1,7,14,21 or 28th of the month), SWP-Monthly and Quarterly (1,7,14,21 or 28th of every month/month of every quarter)
    Minimum
    SIP-Daily: Rs. 500/-/ Weekly and Monthly:Rs. 500/-, STP- Rs. 500/-, SWP- Rs. 1000/-, then sIP-1, STP-1, SWP-1
    Instalments
    SIP-Daily- 30 ; Weekly/Monthly -12 or 6, STP-Daily-30; Weekly /Monthly/Quarterly -2, SWP- Monthly/Quarterly-2
    Most
    Nil

    Selling and switching

    To redeem
    ₹1,000
    Switch minimum
    ₹5,000
    Switch multiples
    ₹1

    Scheme details(7 Oct 2026)

    What it is

    Category
    Thematic Fund
    Offer
    13 Feb 2026 to 27 Feb 2026
    Started
    9 Mar 2026
    Reopened
    12 Mar 2026
    Plans
    Regular Plan- Growth Option · Regular Plan- Income Distribution cum Capital Withdrawal (IDCW) Option (with Payout of IDCW option) · Regular Plan- Income Distribution cum Capital Withdrawal (IDCW) Option (with Reinvestment of IDCW option) · Direct Plan- Growth Option · Direct Plan- Income Distribution cum Capital Withdrawal (IDCW) Option (with Payout of IDCW option) · Direct Plan- Income Distribution cum Capital Withdrawal (IDCW) Option (with Reinvestment of IDCW option)
    Face value
    Rs.10/- each
    Listed
    No

    How it is run

    Swing pricing
    No
    Side-pocketing
    No
    Custodian
    Deutsche Bank A.G.
    Auditor
    S. R. Batliboi & Co. LLP
    Registrar
    KFin Technologies Limited
    SEBI code
    ITIM/O/E/THE/25/08/0021