The NFO opened on January 15 and closes on January 29.
Europe funds seem to be the flavor of the season. After DWS and JP Morgan announced the launch of their Europe funds, Religare Invesco Mutual Fund is also launching its open end fund of fund scheme called Religare Invesco Pan European Equity Fund.
The NFO opened for subscription on January 15 and closes on January 29. The fund will invest in Invesco Pan European Equity Fund. This fund is domiciled in Luxembourg and invests largely in large companies operating in Europe. Launched in 1991, this underlying fund manages EUR 2.23 billion (Rs. 18922 crore), states a press release.
“Diversification is the key and one of the basic building blocks for a solid portfolio. As different markets perform differently diversifying your investments across markets helps to reduce risk and enhance portfolio performance. Given the low correlation between Indian and European markets the fund will help investors achieve diversification by investing in European companies which are available at attractive valuations,” said Saurabh Nanavati, Managing Director & CEO, Religare Invesco Mutual Fund.
“Actions taken by the
European Central Bank supplemented by individual governments have laid a solid
foundation for gradual economic recovery, which has boosted investor
confidence. 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 valuations,” he added.
The
minimum investment under lump sum is Rs. 5000 and under SIP is Rs. 500. An exit
load of 1% will be payable on investments redeemed on or before 18 months from
the date of allotment. The fund is benchmarked to MSCI Europe - ND.
Going ahead, Religare plans to launch more international funds by leveraging its partner Invesco’s strength in the overseas markets. The fund house currently manages Rs. 13706 crore.
