Everyone at Itus has their own money in the fund.
A single multicap fund. No product shelf, no cross-sell.
Partner capital is invested in the same fund, in the same names.
The firm is owned by the people who run it.
Fund manager continuity is important to us.
Every employee holds money in the fund. Nobody is paid to gather assets.
Our AUM growth is a function of our performance.
Every new strategy divides the attention of the person and the team making the decisions, and none of them are the reason you came.
We run a single fund. Every hour of research, every position, every mistake we have had to sit with goes into the same portfolio you own. When we find something good, the fund owns the position. When we are wrong, we are wrong alongside you – in the same names, at the same time.
Our investor base is largely promoters and CXOs – people who run businesses in the sectors we study. That’s a strong network built over time, and it shapes how we think about an industry.
The qualitative understanding we build this way compounds. What we are after is how a sector actually works – not anything specific to a company we own.
Most fund managers will send you a glossy brochure. At Itus we want you to have an Owner’s Manual. Why? Because your understanding of what we are trying to achieve and how we will approach it is a critical element in enabling us to attain our goal.
Download ManualItus comes from a figure in Greek mythology — a mortal who was sworn to protect Apollo and was later made a god of protection.
What stayed with us was not the mythology, but the idea behind it: protection is a responsibility entrusted to you, not a prize to be won.
That is how we think about managing someone else’s capital.
It is a responsibility we accept.
Co-founder and Fund Manager
Most analysis breaks because it prices non-linear businesses with linear tools.
A multiple assumes the future rhymes with the past. The businesses worth owning over a decade are precisely the ones where it doesn't — and that gap, between how a business is valued and how it actually compounds, is where the work is.
Before Itus, Naveen managed India-focused funds at Hutchin Hill and Oracle Capital, and built out Nomura's Asia ex-Japan business. He began his career at Lehman Brothers in Tokyo and Hong Kong. He returned to India in 2017 to set up Itus.
Full profile and track record
