Invesco Mutual Fund Launches Invesco India Technology Fund

* NFO Opens: 3 September 2024; Closes: 17 September 2024

Invesco Mutual Fund today announced the launch of its new fund Invesco India Technology Fund, (an open ended equity scheme investing in technology and technology related sectors).

Invesco India Technology Fund seeks to generate capital appreciation by investing 80% - 100% in equity & equity related instruments of companies in technology and technology related sectors, companies focused on driving transformative innovations across technology, automation, robotics, artificial intelligence, cloud computing and other technology companies including those benefiting from increased digital adoption. This fund will adopt both top down and bottom-up approach and will invest across market capitalization balancing large cap stability with midcap growth and small cap potential. The fund will target investments in Indian Technology Companies alongside global technology leaders and innovators*. The fund will be benchmarked to Nifty IT TRI and will be managed by the fund managers, Mr. Hiten Jain and Mr. Aditya Khemani.

Speaking at the launch, Mr. Taher Badshah, Chief Investment Officer, Invesco Mutual Fund said, "After a phase of subdued growth, the global IT services sector appears ready for recovery as the global economic environment stabilises and as conditions build for a potential reversal of the hitherto rising global interest rate cycle. Not only has the Indian IT services sector gained share during this period in helping global companies manage costs, but it is also well positioned to accelerate growth going forward as adoption of new technologies revive global discretionary technology spends.”

Mr. Hiten Jain, Fund Manager, Invesco Mutual Fund further said, “Today's world is driven by technology, and businesses are embracing newer technologies, creating new growth opportunities for IT companies. The sector is gaining strength, supported by digitalization, government initiatives, and other factors. Moreover, valuations are reasonable, and we anticipate cyclical recovery in earnings driven by improving business sentiment.”

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 Re. 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.

The New Fund Offer (NFO) is now open for subscription from today (3 September, 2024) and will close on 17 September, 2024.

About Invesco Asset Management (India) Private Limited

Invesco Asset Management (India) is one of the leading asset management companies in India. With over INR 96,491 crores of average assets under management for quarter ending June 2024 across Mutual funds, PMS and Offshore Advisory, we serve investment needs of individual investors, corporate and institutions through mutual funds and sub- advised portfolios. Our expertise extends across equity, fixed income and alternative asset classes where we offer the complete range of funds designed to suit investment needs. IAMI’s aim is to provide top class financial care, impeccable service and best- in-class investment products.

For more details visit www.invescomutualfund.com

About Invesco Ltd.

Invesco is a global independent investment management firm dedicated to delivering an investment experience that helps people get more out of life. Our distinctive investment teams deliver a comprehensive range of active, passive and alternative investment capabilities. With offices in more than 20 countries, Invesco managed $1.7 trillion in assets on behalf of clients worldwide as of June 30, 2024.

For more information, visit https://www.invesco.com/corporate 

Note: The above product labelling assigned during the New Fund Offer (NFO) is based on internal assessment of the Scheme characteristics or model portfolio and the same may vary post NFO when the actual investments are made.

*Note - The Scheme will not invest in Overseas securities / Overseas ETFs during a period of six months from the date of closure of New Fund Offer. On an ongoing basis, the Scheme may make investments in overseas securities (i.e. ADRs, GDRs etc.) upto the available limit at the Fund level. Investments in Overseas ETFs is temporarily suspended and will be allowed once the communication is received from SEBI / AMFI.

Mutual Fund investments are subject to market risks, read all scheme related documents carefully.