Religare Invesco MF launches european equity fund

MUMBAI: Religare Invesco Mutual Fund today launched an open ended fund of funds scheme, which seeks to generate capital appreciation by investing in 'Invesco pan European Equity Fund', a company release said.

The new fund offer, which has opened for subscription from today, will close on January 29, 2014.

"Diversification is the key and one of the basic building blocks for solid portfolio...Given the low correlation between Indian and European equity markets, the new fund will help investors achieve diversification by investing in European equities," Managing Director and Chief Executive Officer of Religare Invesco MF, Saurabh Nanavati said.

"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 valuation," he said.

Nanavati also said the fund house plans to increase its feeder fund offerings in the future.

Religare Invesco MF has an average assets under management of Rs 13,706 crore by the end of December quarter of this fiscal.