NFO Alert: Invesco Mutual Fund launches technology fund

Invesco Mutual Fund has announced the launch of Invesco India Technology Fund, an open-ended equity scheme investing in technology and technology-related sectors.

The new fund offer or NFO of the scheme will open for subscription on September 3 and will close on September 17. The scheme will re-open for continuous sale and repurchase within five business days from the date of allotment.

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The investment objective of the scheme will be to generate capital appreciation by investing in equity and equity-related instruments of companies in the 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 the increased digital adoption.

The scheme will offer regular and direct plans both with growth and IDCW options. The minimum application amount for lumpsum purchase will be Rs 1,000 per application and in multiples of Re 1 thereafter. For switch-in, the minimum application amount will be Rs 1,000 per application and in multiples of Re 0.01 thereafter.

The scheme will be benchmarked against Nifty IT TRI. The scheme will be managed by Hiten Jain, and Aditya Khemani.

The scheme will allocate 80-100% in equity and equity-related instruments of companies in technology and technology-related sectors including those benefiting from increased digital adoption, 0-20% in other equity and equity-related instruments, 0-20% in debt and money market instruments, and 0-10% in units issued by REITs and InvITs.

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The maximum Total expenses ratio (TER) permissible under Regulation 52 (6) (c)(i) will be up to 2.25%. For each purchase of units through lumpsum/switch-in/Systematic Investment Plan (SIP), Systematic Transfer Plan (STP), and IDCW Transfer Plan, the exit load will be as follows:

• if units are redeemed/switched out on or before three months from the date of allotment: 0.50%
• if units are redeemed/switched out after three months: Nil
• Switch between the plans under the scheme: Nil

The scheme will be suitable for investors who are seeking capital appreciation over the long term and want investment predominantly in equity and equity-related instruments of companies engaged in the technology and technology-related sectors.