Invesco Mutual Fund announced the launch of its new fund Invesco India Focused 20 Equity Fund, an open-ended multi cap equity scheme investing in a maximum 20 stocks across market capitalizations. The New Fund Offer (NFO) has opened for subscription on September 09, and it will close on September 23.

The minimum investment amount during the NFO is Rs 1,000 and in multiples of Re 1 thereafter. For SIP investments, the minimum application amount is Rs 500 and in multiples of Re 1 thereafter.

The scheme will not charge any exit load if up to 10 percent of the units are redeemed/ switched out within one year from the date of allotment. If more than 10 percent of the units are redeemed/switched within one year from the date of allotment , exit load of 1% will be charged. No exit load will be charged for units redeemed / switched after one year from the date of allotment.

Invesco India Focused 20 Equity Fund will adopt a high conviction approach to investing with meaningful allocation to each stock idea, maintaining a balance between conviction and diversification. Currently, a large portion of the portfolio will be invested in large cap stocks (approximately between 50-70%), exposure to mid cap stocks will be in the range of 30-50%, while exposure to small cap stocks will be in the range 0–20% of the portfolio (based on current views and may change from time to time).

Further, the portfolio will comprise of both growth and value stocks. The fund will be benchmarked to S&P BSE 500 TRI. The fund will be managed by Taher Badshah, who has over 26 years of experience in the Indian equity markets.

“If you analyze the data you will find a handful of stocks have contributed to most of the returns at different points in time. Further, there is also huge divergence in returns across and within the sectors which lays emphasis on the right stock selection, said Saurabh Nanavati, Chief Executive Officer, Invesco Mutual Fund. “Our investment expertise and research prowess enables us to identify the right investment ideas with the potential of generating wealth and helping investors get closer to their financial objectives.”

Nanavati also said “Over the last 12 years, our thorough research, risk management processes and comprehensive in-house coverage of Indian equities have enabled us to deliver strong and consistent returns across our equity strategies. We are also proud to announce that we have crossed over 10 lakh investor accounts – a reliable testimony of our commitment to the Indian market and faith reposed by Retail investors in our equity funds.”

Let’s block ads! (Why?)

Personal Finance News-Wealth-Economic Times