Invesco Launches New Equity Fund Targeting India's Growing Consumption Market
Invesco Mutual Fund has introduced a new open-ended equity scheme, the Invesco India Consumption Fund. This fund targets India's expanding consumption energy and is designed to provide investors with exposure to the country's shifting economic environment and evolving consumer spending patterns.
The fund will primarily invest in equities and related instruments of consumption-driven businesses, with at least 80% of its net assets allocated to this sector. It will be actively managed by Manish Poddar and Amit Ganatra, two experienced fund managers at Invesco. Poddar, a Chartered Financial Analyst with 13 years of experience, serves as the Head of Research and Fund Manager. Together, they will employ a blend of top-down and bottom-up strategies to select companies relevant to India's evolving consumer landscape.
The fund has an exit load of 0.50% for redemptions or switches within the first three months. It is benchmarked against the Nifty India Consumption TRI and aims to generate long-term capital appreciation. The New Fund Offer (NFO) period is from October 17, with a minimum investment of ₹1,000. Systematic Investment Plans (SIP) are also available, starting at ₹100 per day or ₹500 per month.
The Invesco India Consumption Fund's launch comes at an opportune time, as positive macroeconomic factors like RBI rate cuts and GST reductions are expected to drive consumption cellular recovery. By investing in this fund, investors can gain exposure to India's consumption theme and potentially benefit from the country's growing consumer market.
