Invesco Mutual Fund seeks SEBI nod for equity savings fund

Invesco Mutual Fund has sought the Securities and Exchange Board of India's approval to launch Invesco India Equity Savings Fund, according to the draft offer document on SEBI’s website.

The open-ended scheme will invest 25-75 percent of its asset in derivatives including index futures, stock futures, index options and stock options, among others. The fund will also deploy 15-40 percent of its corpus in equities and 10-35 percent in debt and money market instruments.

Other features:* Plans: Regular and direct
* Options: Growth and dividend
* Minimum investment: Rs 5,000 and in multiples of Re 1 thereafter
* Exit load: 1 percent if units are redeemed or switched-out on or before one year from the date of allotment
* Performance benchmark: NIFTY Equity Savings Index
* Fund managers: Taher Badshah, Amit Ganatra, Krishna Cheemalapati, and NeeleshDhamnaskar