Religare Invesco MF unveils Invesco Pan European Equity Fund

India Infoline News Service | Mumbai |

The New Fund Offer opens for subscription today and will close for subscription on Jan 29, 2014

Religare Invesco Mutual Fund today announced the launch of its new fund ‘Religare Invesco Pan European Equity Fund (an open-ended fund of funds scheme). The Fund seeks to generate capital appreciation by investing into Invesco Pan European Equity Fund (Underlying Fund); a Luxembourg domiciled fund, which invests primarily in equity securities of European companies with an emphasis on larger companies. The Underlying Fund launched in 1991 with assets under management of EUR 2.23bn1 (USD 3.03bn, INR 18,922 crores) has a long established track record and follows an active, valuation led bottom up investment approach to select stocks. The New Fund Offer of Religare Invesco Pan European Equity Fund opens for subscription today and will close for subscription on Jan 29, 2014.

Saurabh Nanavati, Managing Director & Chief Executive Officer, Religare Invesco Mutual Fund said, “Diversification is the key and one of the basic building blocks for a solid portfolio. As different markets perform differently, diversifying your investments across markets helps to reduce risk and enhance portfolio performance. Given the low correlation between Indian
and European equity markets, the Religare Invesco Pan European Equity Fund will help investors achieve diversification by investing in European Companies, which are available at attractive valuations."

“Actions taken by the European Central Bank supplemented by individual governments have laid a solid foundation for gradual economic recovery, which has boosted investor confidence. We believe, growth is slowly coming back in Europe. The new fund will provide investors’ an opportunity to invest in European companies, which are available at compelling valuations."

“Going forward, we plan to increase our feeder fund offerings by introducing a range of products investing across markets & strategies by leveraging the global investment expertise available with Invesco.”

The New Fund Offer opens for subscription today and will close for subscription on Jan 29, 2014.The fund offers both Growth and Dividend options. Units will be issued at Rs.10 each. For Lumpsum purchase, the minimum application amount is Rs. 5,000/- and in multiples of Re.1/- thereafter. For SIP investments, the minimum application amount is Rs. 500/- under the monthly SIP option and Rs.1500/ - under the quarterly SIP option and in multiples of Re.1/- thereafter. An exit load of 1% will be payable on investments redeemed on or before 18 months from the date of allotment. The fund is benchmarked to MSCI Europe -ND.


 

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