Invesco India Consumption Fund Opens for Subscription

Invesco Mutual Fund today announced the launch of its new fund Invesco India Consumption Fund, (An open-ended equity scheme following consumption theme). The fund aims to capitalize on India’s consumption growth by investing a minimum of 80% of its net assets in equity and equity related instruments of companies benefiting from consumption theme. The fund will be actively managed and will select stocks utilizing a combination of both top down and bottom-up investment approach and will focus on companies benefitting from long term structural opportunities and also allocate to cyclical themes. The fund will be managed by Manish Poddar and Amit Ganatra and will be benchmarked to Nifty India Consumption TRI.

Speaking at the launch, Manish Poddar, Fund Manager, Invesco Mutual Fund said "India stands as one of the world’s largest market by population and Consumption is the largest theme of India. The environment today is highly conducive for consumption led growth given internal variables of rising incomes, urbanization and aspirational consumers supported by macro variables such as lower tax rates and structural reforms of GST 2.0. The launch of the Invesco India Consumption Fund reflects our conviction in the long-term potential of India’s consumption story. The Fund intends to invest in companies which operate in the complex market-place in India and stay relevant to the changing consumers landscape."

Saurabh Nanavati, Chief Executive Officer, Invesco Mutual Fund, said, “We are currently witnessing a convergence of positive macroeconomic factors that are poised to drive a strong recovery in India’s consumption sector. The RBI’s front-loaded rate cuts and the recent reduction of GST rates have notably enhanced consumer affordability. The Invesco India Consumption Fund offers investors the opportunity to participate in India’s rapidly growing consumption landscape, as the country emerges as one of the world’s fastest-growing consumer markets Our fund is strategically positioned to capitalize on the emerging trends, providing investors with access to the country’s consumption-driven growth story.”

The minimum investment amount during the NFO is ₹1,000 and in multiples of ₹1 thereafter. For SIP investments, the minimum application amount is ₹100 and in multiples of ₹1 thereafter for Daily SIPs, and ₹500 and in multiples of ₹1 thereafter for Monthly SIPs. The fund will charge an exit load of 0.50% for units redeemed / switched out on or before 3 months from the date of allotment. No exit load will be charged if units are redeemed / switched out after 3 months and if any Switch between plans under the scheme.