Mumbai, July 25, 2024: Invesco Mutual Fund today announced the launch of its new fund Invesco India Manufacturing Fund, (an open - ended equity scheme following manufacturing theme).
Invesco India Manufacturing Fund seeks to generate capital appreciation and will invest 80% - 100% in equity & equity related instruments of companies following the manufacturing theme. This fund is designed to capitalize on the tremendous growth potential within India's manufacturing sector and will invest across market capitalisation with an aim to have a well-diversified portfolio of 50 - 60 stocks. The fund will be benchmarked to Nifty India Manufacturing TRI and will be managed by the fund managers, Mr. Amit Ganatra and Mr. Dhimant Kothari.
Speaking at the launch, Mr. Amit Ganatra, Head of Equities & Fund Manager, Invesco Mutual Fund said, “The manufacturing sector stands at the cusp of a significant transformation, driven by robust domestic demand, global supply chain realignments, stable inflation and interest rates, and supportive government policies. The government is actively implementing policies, incentives, subsidies, lowering corporate tax rates, and increasing capital expenditures to position India as a global manufacturing hub. These factors collectively position India as a promising destination for manufacturing investments, poised for robust growth in the coming years.”
Mr. Amit Ganatra further said, “With a large pool of entrepreneurial talent and substantial export potential, the sector offers immense opportunities for investors. Initiatives like ‘Make in India’ and infrastructure development, along with competitive advantages in labour, energy, land, capital, and entrepreneurship will further bolster this sector.
The recent Budget 2024-25 announced by the Government provides special attention to MSMEs and manufacturing, particularly labour-intensive manufacturing, with a comprehensive package covering financing, regulatory changes, and technology support.”
The minimum investment amount during the NFO is Rs. 1,000/- and in multiples of Re. 1/- thereafter. For SIP investments, the minimum application amount is Rs. 500/- and in multiples of Rs. 1 thereafter. 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 from the date of allotment.
The New Fund Offer (NFO) is now open for subscription from today (July 25, 2024) and will close on August 8, 2024.
