Sudhir Valia-backed ITI group forays into mutual fund business

The fund house seeks to differentiate itself in the 41-player MF industry

The Sudhir Valia-backed ITI group on Monday launched its mutual fund (MF) business, marking its entry into the Rs 23-trillion MF industry. 

Commenting on the promoters’ commitment to the MF business, George Heber Joseph, chief executive officer (CEO) of ITI MF, said that promoters are fully behind the MF foray with a long-term vision for the business.  

Valia and Sun Pharma’s links had earlier come under scrutiny following a Macquaire note alleging corporate governance lapses in the pharma major and reports of whistle-blower complaints against the drugmaker. 

The launch of ITI MF comes at a time when the MF industry has gone through