The Investment Trust Of India Limited Transfers Fund Management Business to Subsidiary
The Investment Trust of India Limited (TITL) has approved the transfer of its fund management and advisory business to its wholly-owned subsidiary, ITI Asset Management Limited (ITI AMC). This transaction aims to consolidate and streamline the Group’s asset and fund management activities.The board decision involves the transfer of key businesses related to two specific funds: the ITI Long Short Fund, which is a SEBI-registered Category III Alternative Investment Fund, and the ITI Long Short Equity Offshore Fund (IFSC).
ITI AMC will assume responsibility for the investment management, advisory, and related fund management functions for both the ITI Long Short Fund and the ITI Long Short Equity Offshore Fund (IFSC).
The company confirmed that all requisite regulatory approvals and consents have been successfully obtained to facilitate the transaction. These approvals include acknowledgement from the International Financial Services Centres Authority (IFSCA) and the Alternative Investment Fund and Foreign Portfolio Investors Department of the Securities and Exchange Board of India (SEBI).
The transfer of these functions to ITI AMC is positioned as part of a proposed business reorganization within the Group. Following the transaction, The Investment Trust of India Limited will continue to serve as the Sponsor of the aforementioned funds.
THEINVEST Stock Price Movement
Today, shares of The Investment Trust Of India Limited edged higher, closing at ₹98.93 and posting a 2.25% gain. The equity saw a traded volume of 20,067 shares during the session.Disclaimer: Due care and diligence have been taken in compiling and presenting news and market-related content. However, errors or omissions may arise despite such efforts.
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