Invesco Asset Management Company has filed an offer document with SEBI (Securities and Exchange Board of India) to launch a new equity mutual funds scheme called Invesco India Equity Savings Fund.
The open-ended equity scheme will invest about 25 percent to 75 percent of its asset in derivatives comprising stock futures, index futures, stock options, and index options. The scheme will also invest 15 percent to 40 percent of its assets in equities instruments. The new fund will further invest 10 percent to 35 percent in debt and money market securities.
The minimum investment amount for the scheme is 5,000 Rupees and in multiples of one Rupee thereafter. The scheme has an exit load charge of 1 percent if the units are redeemed/ switched-out on or before 12 months from the date of allocation.
The Invesco India Equity Savings Fund offers the Regular and Direct Plans with Growth and Dividend Options.
The performance of the new equity mutual funds scheme is benchmarked against NIFTY Equity Savings Index.
Invesco Mutual Fund has assigned Taher Badshah, Amit Ganatra, Krishna Cheemalapati, and Neelesh Dhamnaskar as the fund managers of the Equity Savings Fund. Mr. Cheemalapati has more than 20 years of experience in the Fixed Income market, and he has been working with Invesco AMC from January 2011.
The Invesco India Equity Savings Fund, an open-ended scheme, investing in equity, equity arbitrage and debt instruments, is suitable for investors who are seeking capital appreciation and current income, and for investors who want to make investments in equity and equity-related securities, arbitrage opportunities and fixed income securities (including debt securities, money market securities, and government securities), according to the information available in the official website of SEBI.
Invesco AMC seeks the approval of SEBI to launch the new equity mutual funds scheme, according to the draft offer document on the Market Regulator’s website, as reported on Money Control.[The views and opinions expressed in this article are those of the authors and do not necessarily reflect the views and/or the official policy of the website. ]