Last Updated : Apr 20, 2018 10:50 AM IST | Source:

Invesco Mutual Fund's Sikand will cease to be fund manager of monthly income plan

Invesco India Monthly Income Plan Plus Fund will be re-classified as a regular savings fund from Apr 27

Moneycontrol News @moneycontrolcom

Post a change in asset allocation of Invesco India Monthly Income Plan Plus Fund, effective April 27, Nitish Sikand will cease to be one of the fund managers of the scheme, Invesco Mutual Fund said in an addendum.

On March 23, the fund house had said Invesco India Monthly Income Plan Plus Fund will be re-classified as a regular savings fund from April 27, and will no longer invest in gold exchange-traded funds as per its investment mandate.

Sikand currently manages the scheme's investments in gold-exchange traded funds.

However, Pranav Gokhale and Sujoy Das will continue to oversee equity and debt portion of the scheme, respectively.

The revision in asset allocation follows the Oct 6 norms on categorisation and rationalisation of schemes by the Securities and Exchange Board of India which require fund houses to harmonise all existing and future schemes into five broad categories and 36 sub-categories for ease in investing.

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First Published on Apr 20, 2018 10:50 am
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