Closely on the heels of the launch of Invesco Equity and Bond Fund, which closed its New Fund Offer (NFO) on 25th June, Invesco India has filed papers for a small cap fund. The spate of new launches may signal a desire to deepen the AMC’s product offerings in the Indian market. The proposed fund will be an open-ended fund, available for subscription on all business days.
Invesco India Small Cap Fund will invest 65-100% of its assets in the stocks of small cap companies and 0-35% in larger companies or in debt. Small cap companies are defined as those with a market cap below the market cap of the top 250 listed companies.
Taher Badshah who is the Chief Investment Officer (Equities) at Invesco will be the fund manager. He also manages several other Invesco Schemes such as the Invesco India Contra Fund. This fund has made a name for itself with a five-year return of 24.4% and a one year return of 18.4% (even in the face of a turbulent market).
Invesco Mutual Fund, a fund management company headquartered in Atlanta, Georgia (USA), first entered India in 2012 by acquiring a stake in Religare AMC. The joint venture was called Religare Invesco. In 2016, it acquired Religare’s remaining stake in the joint venture and the fund house was renamed ‘Invesco Mutual Fund.’ The AMC is known for its Invesco Contra Fund and its Growth, Dynamic Equity and Mid-and-Small Cap Funds.
Benchmark: S&P BSE 250 Smallcap Index
Fund Manager: Taher Badshah
Options: Growth, Dividend Reinvestment, Dividend Payout
Minimum Application: Rs 5000