Invesco Mutual Fund has launched a New Fund Offer (NFO) for Invesco India Equity Savings Fund. The NFO period begins on February 14, 2019 and will end on February 28, 2019. This hybrid scheme is suitable for investors looking for capital appreciation and current income. Being an Equity Savings Fund, it will invest in both equity and debt instruments.
Asset Allocation of Invesco India Equity Savings Fund
Under normal circumstances, Invesco India Equity Savings Fund will allocate its funds to different asset classes in the following manner:
| Asset Class | Minimum Allocation | Maximum Allocation |
|
65% | 90% |
| 1.1 Equity and Equity related derivatives including index futures, stock futures, index options & stock options etc | 25% | 75% |
| 1.2 Unhedged equity portion | 15% | 40% |
| 2. Debt & Money Market Instruments | 10% | 35% |
The scheme may participate in short selling of securities, foreign securities and repos/reverse repos. However, the scheme will not deploy more than 20% of its net assets in securities lending.
Under defensive circumstances, the asset allocation of the Invesco India Equity Savings Fund would be as follows:
| Asset Class | Minimum Allocation | Maximum Allocation |
|
15% | 65% |
| 1.1 Equity and Equity related derivatives including index futures, stock futures, index options & stock options etc | 0% | 50% |
| 1.2 Unhedged equity portion | 15% | 40% |
| 2. Debt & Money Market Instruments | 35% | 85% |
If an investor redeems units of the scheme during the defensive circumstances, he/she must note that in such a case the scheme will be taxed as a debt fund if its allocation in debt and money market instruments exceed 65% of its assets.
Benchmark of Invesco India Equity Savings Fund
The Invesco India Savings Fund will be benchmarked against NIFTY Equity Savings Index. The returns generated by NIFTY Equity Savings Index are as follows:
| Index | 1 Year Returns | 5 Year Returns |
| NIFTY Equity Savings Index | 8.25% | 9.98% |
(Data as on June 30, 2018; Source: NSE)
Fund Manager of Invesco India Equity Savings Fund
The scheme will be jointly managed by three fund managers – Mr. Taher Badshah, Mr. Amit
Ganatra and Mr. Krishna Cheemalapati.
Key information about Equity Savings Fund NFO
| NFO period | February 14, 2019 – February 28, 2019 |
| Minimum application amount | Rs. 5,000 |
| Exit load | 0.25% – If units of the scheme are redeemed before 1 month from the date of allotment.
Nil – If units of the scheme are redeemed after 1 month from the date of allotment. |
| Benchmark | NIFTY Equity Savings Index |
| Fund Manager | Taher Badshah, Amit Ganatra and Krishna Cheemalapati. |
Other Funds by Invesco Asset Management
| Fund Name | 3-Year Returns (%) | AUM (Rs. Cr.) |
| Invesco India Gold Fund Direct-Growth | 13.71 | 13.27 |
| Invesco India Ultra Short Term Fund Direct-Growth | 7.68 | 1135.74 |
| Invesco India Treasury Advantage Fund Direct-Growth | 7.68 | 1731.58 |
| Invesco India Short Term Fund Direct-Growth | 7.63 | 2885.82 |
| Invesco India Banking & PSU Debt Fund Direct-Growth | 7.47 | 38.75 |
| Invesco India Financial Services Fund Direct-Growth | 7.34 | 124.62 |
| Invesco India Money Market Fund Direct-Growth | 7.23 | 465.26 |
| Invesco India Gilt Fund Direct- Growth | 7.03 | 35.65 |
| Invesco India Corporate Bond Fund Direct-Growth | 6.92 | 163.37 |
| Invesco India Liquid Fund Direct-Growth | 6.82 | 10162.63 |
| Invesco India Arbitrage Fund Direct-Growth | 6.63 | 351.46 |
| Invesco India Mid Cap Fund Direct-Growth | 5.59 | 184.25 |
| Invesco India Growth Opportunities Fund Direct-Growth | 5.34 | 483.87 |
| Invesco India Tax Plan Direct-Growth | 4.63 | 550.14 |
| Invesco India Contra Fund Direct-Growth | 3.73 | 1441.87 |
| Invesco India Dynamic Equity Fund Direct-Growth | 3.68 | 1008.28 |
| Invesco India Infrastructure Fund Direct-Growth | 3.11 | 44.63 |
| Invesco India Credit Risk Fund Direct-Growth | 2.84 | 415.13 |
| Invesco India Largecap Fund Direct-Growth | 2.72 | 141.76 |
| Invesco India Multicap Fund Direct-Growth | 1.2 | 555.49 |
{Data as on March 17, 2020; Source: Value Research}