Mumbai (Maharashtra) [India] October 2 (ANI/PNN): Invesco India Focused 20 Equity Fund (an open-ended equity scheme investing in maximum 20 stocks across market capitalization (i.e. Multicap), which was open for subscription until September 23rd has collected Rs 602 crores in the NFO. The fund received 29,240 applications from investors across 855 cities & towns in India.
"Our strong and consistent track record of performance across our equity schemes has helped us garner assets during our NFO. We would like to thank all our investors and distributors for their belief in us and are humbled by the response received by our new fund. Invesco is an independent asset manager, and all the collections received during the NFO have come from third-party distributors, including banks, national distributors, IFAs, and our digital partners," said Saurabh Nanavati, Chief Executive Officer, Invesco Mutual Fund.
Invesco India Focused 20 Equity Fund seeks to generate capital appreciation by investing in up to 20 stocks with a flexibility to move across the market capitalization range.
The fund will adopt a high conviction approach to investing with meaningful allocation to each stock idea yet maintaining a balance between conviction and diversification.
The fund is benchmarked to S&P BSE 500 TRI and will be managed by Taher Badshah, who has over 26 years of experience in the Indian equity markets.
The fund will re-open for ongoing subscription from October 5, 2020.
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