mutual funds: Invesco Mutual Fund launches Invesco EQQQ Nasdaq-100 ETF Fund of Fund
The new fund offering (NFO) is now open and will close for subscription on April 13.
The underlying fund is domiciled outside Ireland and has a performance history of over 19 years. The fund has assets under management of over Rs. 45,873 crore ($6.09 billion) as of February 28, 2022.
Speaking at the launch, Saurabh Nanavati, Managing Director of Invesco Mutual Fund, said: “The NASDAQ-100 is more than just an index; it is home to the most influential and innovative companies* in the world such as Apple, Amazon, Microsoft, Tesla, Alphabet, etc. Moreover, the NASDAQ-100 is not limited to the technology sector alone, it is home to disruptors and big names from various sectors, including consumer discretionary, healthcare and others. It’s no surprise that these companies are transforming the world and presenting a strong investment opportunity.
“Our global company alone manages more than US$423 billion in global ETFs (global AuM of US$1.5 trillion)1 and manages one of the largest funds that track the Nasdaq-100 index. As a company, we are committed to bringing new investment strategies to India for our Indian investors by leveraging the global investment capabilities of our parent company. Nanavati added.
According to the fund house, the program will provide exposure to the 100 largest US and international non-financial companies listed on the Nasdaq stock market based on market capitalization.
The minimum investment amount during NFO is Rs 1,000 and in multiples of Rs 1 thereafter. For SIP investments, the minimum request amount is Rs 500 and in multiples of Re 1 thereafter. The fund will not charge any exit charges on redemptions.