ITI Focused Fund Direct Growth Review 2026: NAV, Returns, Portfolio & Should You Invest?

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.

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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

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.