Invesco Mutual Fund launches Invesco EQQQ Nasdaq-100 ETF Fund of Fund

Invesco Mutual Fund has launched a new fund, Invesco EQQQ Nasdaq-100 ETF Fund of Fund, an open-ended fund of fund scheme investing in Invesco EQQQ Nasdaq-100 UCITS ETF. The fund will invest 95% of its net assets in the Invesco EQQQ Nasdaq UCITS ETF fund, which tracks the Nasdaq 100 index.

The New Fund Offer (NFO) is now open and will close for subscription on April 13.

The underlying fund is domiciled out of Ireland and has a track record of over 19 years. The fund has assets under management of over Rs. 45,873 crore (US$6.09 bn) as on 28 February 2022.


Speaking at the launch, Saurabh Nanavati, Chief Executive Officer, Invesco Mutual Fund said, “The NASDAQ-100 is more than just an index; it is home to the world’s most influential and innovative companies* like Apple, Amazon, Microsoft, Tesla, Alphabet etc. Further, the NASDAQ-100 is not limited to the technology sector alone it is home to disruptors and leading names from diverse sectors, including consumer discretionary, healthcare and others. It is no surprise that these companies are transforming the world and present a strong investment opportunity.”

“Our global firm manages over US$ 423bn of global ETFs alone (Overall AuM of US$1.5 trillion)1 and manages one of the largest fund tracking the Nasdaq-100 Index. As a firm, we are committed to bring newer investment strategies into India for our Indian Investors by leveraging into our parent’s global investment capabilities.” Nanavati added.

According to the fund house, the scheme will provide exposure to 100 largest US and international non-financial companies listed on the Nasdaq Stock Market based on market capitalization.

The minimum investment amount during the NFO is Rs 1,000 and in multiples of Rs 1 thereafter. For SIP investments, the minimum application amount is Rs 500 and in multiples of Re 1 thereafter. The fund will not charge any exit load on redemptions.