ITI PHARMA AND HEALTHCARE FUND

(An open ended Equity scheme investing in Pharma and Healthcare)

Product Review Note 29th December 2023

Inception Date 08-Nov-2021
Category Sectoral/ Thematic
Benchmark Index Nifty Healthcare TRI
Monthly AAUM
AUM		 ₹ 140.13 Crores
₹ 143.28 Crores
Minimum Application Amount: ₹ 5000/- & in multiples of ₹ 1/- thereafter
Load Structure Entry Load: Nil
Exit Load: 1% if redeemed or switched out on or before completion of 12 months from the date of allotment of units; · Nil, if redeemed or switched out after completion of 12 months from the date of allotment of units.
Fund Manager

Mr. Rohan Korde
(Since 08-Nov-21)
Total Experience:
19 years

Mr. Dhimant Shah
(Since 01 December 2022)
Total Experience:
26 years
  1. The fund shall have allocations across healthcare ecosystem like Domestic Pharma, Global Pharma
  2. The fund shall intend to capitalize on changing trends that are reshaping Global Pharma & Healthcare industry.
  3. The sector has potentially lower volatility
  4. Suitable for investors who have investment horizon fo 4-5 years & want to be part of Indian Healthcare Growth Story

Long-term outlook remains intact:

  1. Going forward while all eyes are on the General Elections, all the three elements of the capex cycle (Housing, Corporate Capex & Govt Capex) are now firing and hence the potential global slowdown should have limited impact on India. A combination of a strong pent-up demand for housing, above average affordability and 12-year low unsold inventory should drive a multi-year virtuous housing cycle. Ditto for corporate capex with all time low D/E ratio for Indian corporate, along with a decade high capacity utilisation level and well capitalised banking system should drive corporate capex. Govt Capex could slowdown but private capex pick-up should more than offset.
  2. Unlike every year, the budget would be a Vote on Account in this financial year. However, considering election year, one cannot rule out a populist measures being announced in the budget. During 2019-20, the first interim budget of the incumbent government saw various measures being implemented like PM Kisan Yojana – transferring Rs.6000 per annum x ~12 crore farmers entailing an outlay of Rs.75,000 crore per annum. These sort of measures are expected to not only provide spending impetus at the lower strata of the society but is also expected to reinforce the positioning of the incumbent Government with a strong majority.

Sector
Dec-23
Nov-23
Oct-23
Healthcare
93.41%
93.87%
94.25%
Others*
4.34%
4.75%
4.45%
The portfolio of the scheme is subject to changes within the provisions of the cheme Information document of the scheme. Please refer to the SID for stment pattern, strategy, risk factors & the asset allocation. Please refer to the factsheet for more details. *Others include Chemicals, Financial Services, Realty, FMCG & Diversifed.

 
Dec-23
Nov-23
Oct-23
Average P/E
103.53
50.71
46.68
Average P/B
6.95
6.65
5.92
No. of stocks:
35
36
36
% of top 5 holdings
35.94
35.99
38.36
% of top 10 holdings
59.19
59.60
60.52
The portfolio of the scheme is subject to changes within the provisions of the Scheme Information Document (SID) of the scheme. Please refer to the SID for investment pattern, strategy, risk factors & the asset allocation. Please refer to the factsheet for more details.

 Name of Instrument
Dec-23
Sun Pharmaceutical Industries Ltd.
13.58%
Dr. Reddy's Laboratories Ltd.
5.92%
Max Healthcare Institute Ltd.
5.89%
Alkem Laboratories Ltd.
5.38%
Suven Pharmaceuticals Ltd.
5.16%
Mankind Pharma Ltd.
4.96%
Aurobindo Pharma Ltd.
4.92%
Lupin Ltd.
4.58%
Cipla Ltd.
4.56%
Apollo Hospitals Enterprise Ltd.
4.23%

This product is suitable for investors who are seeking*:
  • Capital appreciation over long term
  • Investments in equity and equity related securities of companies engaged in Pharma and Healthcare.
Scheme Riskometer
Benchmark Riskometer
Nifty Healthcare TRI

Disclaimer The investment strategy of the scheme may change from time to time and shall be in accordance with the strategy as mentioned in the Scheme Information Document of the scheme. The views contained herein are not to be taken as an advice or recommendation to buy or sell any particular stock. The above information must be read along with the scheme features & riskometer for better understanding of the product. This should not be construed as an investment advice. Investors may consult their Mutual Fund Distributor for other details. It should be noted that value of investments and the income from them may fluctuate in accordance with market conditions and taxation agreements. Past performance may or may not be sustained in future.

Mutual Fund investments are subject to market risks, read all scheme related documents carefully.