ITI Focused Fund Direct Growth Review 2026: NAV, Returns, Portfolio & Should You Invest?
- September 18, 2026
- Posted by: Chaitanya Auti
- Category: Mutual Funds
ITI Focused Fund Direct Growth Plan is at ₹17.0589 as of 17 September 2026, with an AUM of ₹628 Cr. Its 1-year, 3-year and 5-year returns are 6.3%, 16.76% and Data not available, respectively, and it sits in the High Risk category.
Our view is that this is a focused equity fund for investors who can tolerate sharp swings and want exposure to a concentrated stock selection approach. The recent return pattern has been uneven, but the 3-year number is meaningfully better than the benchmark, while the shorter-term run has been softer.
Quick facts
| Particular | Details |
|---|---|
| NAV | ₹17.0589 as of 17 Sep 2026 |
| AUM | ₹628 Cr |
| Expense Ratio | 0.29% |
| Launch Date | 19 Jun 2023 |
| Min SIP | ₹500 |
| Risk Category | High Risk |
| Benchmark | Nifty 50 |
| Fund Category | Equity |
| Exit Load | 0.50% on or before 3M, NIL after 3M |
| Fund Managers | Dhimant Shah, Alok Ranjan |
The fund is managed by Dhimant Shah and Alok Ranjan.
Source data date: as of 17 Sep 2026
Performance
| Period | Fund return | Benchmark return |
|---|---|---|
| 1M | -3.7% | -3.66% |
| 3M | -0.84% | -3.71% |
| 1Y | 6.3% | -7.13% |
| 3Y | 16.76% | 5.82% |
| 5Y | Data not available | Data not available |
The fund’s recent path has been choppy. Over 1 month, it fell slightly more than the benchmark, but over 3 months it held up better, which suggests the portfolio has absorbed part of the market’s weaker patches without fully escaping them.
The 1-year figure is notable because the fund stayed positive while the benchmark was negative. That tells us the fund has done a better job than Nifty 50 over the past year, even if the final stretch has been softer than its longer trend.
The 3-year return remains the clearest sign of strength. It is well ahead of the benchmark over that horizon, and the pattern of monthly moves suggests a fund that has recovered from drawdowns and compounded steadily enough to keep the longer view constructive.
We do not treat the 5-year line as a performance signal here because the scheme was launched in June 2023, so the longer listed period is not available. Taken together, the record points to a fund that can outperform its benchmark over a multi-year stretch, but it has not been smooth in the short run.
Source data date: as of 17 Sep 2026
Should you BUY or HOLD ITI Focused?
A fund’s past returns alone don’t tell you whether you should buy it today or continue holding it.
The right decision depends on factors such as your current allocation, purchase price, risk profile, investment horizon and the role this fund plays in your overall portfolio.
Already holding ITI Focused? Thinking of investing now?
Peer comparison
| Fund | 1Y return | 3Y return | 5Y return |
|---|---|---|---|
| ITI Focused Fund Direct Growth Plan | 6.3% | 16.76% | Data not available |
| Motilal Oswal Focused Fund Direct Growth Plan | 21.91% | 13.17% | 10.03% |
| Old Bridge Focused Fund Direct Growth Plan | 12.52% | Data not available | Data not available |
| SBI Focused Fund Direct Growth Plan | 10.15% | 14.35% | 11.38% |
| Quant Focused Fund Direct Growth Plan | 7.73% | 12.17% | 12.76% |
This assessment is prepared by Uniapps Investment Adviser Pvt. Ltd. under SEBI Registered Investment Adviser registration INA000017639.
On the latest 1-year number, the fund trails Motilal Oswal Focused Fund Direct Growth Plan, Old Bridge Focused Fund Direct Growth Plan, SBI Focused Fund Direct Growth Plan and Quant Focused Fund Direct Growth Plan. That tells us the recent pace has been moderate rather than standout.
The picture changes on the 3-year line, where this fund is ahead of the available peer figures for SBI Focused Fund Direct Growth Plan and Quant Focused Fund Direct Growth Plan, and above Motilal Oswal Focused Fund Direct Growth Plan as well. That suggests its medium-term compounding has been more resilient than several comparable strategies.
The short-term and longer-term comparisons therefore tell different stories. Recent returns have been softer, but the 3-year record supports a stronger longer view, which is important for a focused equity fund where outcomes can swing from one period to the next.
Source data date: as of 17 Sep 2026
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Portfolio: where your money goes
| Holding | Sector | Weight |
|---|---|---|
| KRN Heat Exchanger and Refrigeration Limited | Capital Goods | 5.36% |
| ICICI Bank Limited | Bank | 5.11% |
| Reliance Industries Limited | Crude Oil | 4.37% |
| Solar Industries India Limited | Chemicals | 4.23% |
| Net Receivables / (Payables) | Cash & Cash Equivalents and Net Assets | 4.19% |
| Vedanta Aluminium Metal Limited | Non – Ferrous Metals | 4.13% |
| Multi Commodity Exchange of India Limited | Finance | 4.09% |
| HDFC Bank Limited | Bank | 3.95% |
| State Bank of India | Bank | 3.75% |
| Graphite India Limited | Capital Goods | 3.7% |
The top 10 holdings account for approximately 42.88% of the portfolio.
To see all holdings, visit the ITI Focused Fund Direct Growth Plan page
The largest position is KRN Heat Exchanger and Refrigeration Limited at 5.36%, and the tenth holding is Graphite India Limited at 3.7%. That gap is not wide, so the portfolio’s visible core is fairly tightly grouped rather than dominated by one outsized holding.
The first ten holdings together represent 42.88% of the disclosed portfolio, and the total disclosed holding count is 30. That combination suggests a meaningful core-contributor set, but not an extremely narrow one-position structure.
Because the holdings span banks, capital goods, chemicals, metals, finance and cash-like net assets, the fund may draw returns from several different business lines rather than one single theme. Even so, the top names are large enough to matter, so individual stock moves may have greater influence than in a broadly diversified equity fund.
Source data date: as of 17 Sep 2026
Who should invest
This fund suits investors who can handle High Risk and who are comfortable with a focused equity portfolio that can move around in the short term. The 3-year record is better than the benchmark, but the recent 1-month and 3-month figures show that the ride can still be uneven.
It is more suitable for a multi-year horizon than for money needed soon. The main trade-off is that a focused portfolio may offer better medium-term upside than the benchmark, but it can also lag in some shorter windows and remain sensitive to a few major holdings.
Tax and exit load
| Holding period | Tax rate | Description |
|---|---|---|
| Units held less than 1 year | 20% | Short-term capital gains tax |
| Units held more than 1 year | 12.5% | Long-term capital gains tax |
Exit load: 0.50% on or before 3 months; nil after 3 months.
Source data date: as of 17 Sep 2026
Frequently asked questions
What is the current NAV of ITI Focused Fund Direct Growth Plan?
Its NAV is ₹17.0589 as of 17 September 2026.
What are the fund’s 1-year, 3-year and 5-year returns?
The fund’s 1-year return is 6.3%, its 3-year return is 16.76%, and its 5-year return is Data not available.
How has it done against the benchmark?
It has done better than Nifty 50 over 1 year and 3 years. Over 1 month and 3 months, the fund has still been close to the benchmark, but the recent pattern has been uneven.
How does it compare with peer focused funds on recent returns?
Its 1-year return is below the listed peer figures for Motilal Oswal Focused Fund Direct Growth Plan, Old Bridge Focused Fund Direct Growth Plan, SBI Focused Fund Direct Growth Plan and Quant Focused Fund Direct Growth Plan. On the 3-year line, it is ahead of the peers with available 3-year figures in this set.
Is there a minimum SIP?
Yes. The minimum SIP amount is ₹500.
Who manages the fund and what is the exit load?
The fund is managed by Dhimant Shah and Alok Ranjan. The exit load is 0.50% on or before 3 months, and nil after 3 months.
Bottom line
ITI Focused Fund Direct Growth Plan has a mixed but understandable profile: the recent numbers are softer, while the 3-year record is stronger than the benchmark and compares well with the available peer set on that horizon. The fund remains High Risk, and its portfolio is concentrated enough for stock selection to matter, but the first ten holdings do not dominate the scheme beyond the 42.88% disclosed share. It looks best suited to investors who can wait through volatility and focus on multi-year outcomes rather than a smooth short-term path.
Published on 18 September 2026 at 1:24 PM IST
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RIA disclosure
Mutual fund investments are subject to market risks. Read all scheme-related documents carefully before investing. This review is prepared by Uniapps Investment Adviser Pvt. Ltd. (earlier known as Uniapps Global Research Pvt. Ltd.) under SEBI Registered Investment Adviser registration INA000017639 for general informational purposes and is not personalized investment advice.