In a recent development, Invesco Mutual Fund has announced a change in the names of eight of its schemes across equity and debt categories. The modifications were communicated to investors through a notice cum addendum, and the new names will come into effect from January 31.
List of Invesco Mutual Funds whose Names will Be changed from 31st January 2024
Here’s a comprehensive table detailing the old and new names of the affected schemes:
|Invesco India Focused 20 Equity Fund
|Invesco India Focused Fund
|Invesco India Banking & PSU Debt Fund
|Invesco India Banking and PSU Fund
|Invesco India Ultra Short-Term Fund
|Invesco India Ultra Short Duration Fund
|Invesco India Treasury Advantage Fund
|Invesco India Low Duration Fund
|Invesco India Short-Term Fund
|Invesco India Short Duration Fund
|Invesco India Growth Opportunities Fund
|Invesco India Large & Mid Cap Fund
|Invesco India Equity & Bond Fund
|Invesco India Aggressive Hybrid Fund
|Invesco India Gold Fund
|Invesco India Gold ETF Fund of Fund
This move comes as part of a strategic decision by Invesco Mutual Fund to rebrand these schemes. Notably, these schemes span various categories including focused funds, banking and PSU, ultra-short duration, low duration, short duration, large & mid cap, aggressive hybrid funds, and fund of funds (domestic).
The article also highlights that the Securities and Exchange Board of India (SEBI) has granted its no-objection for the name changes, indicating regulatory approval for the move. The approval was conveyed to the fund house through an email dated January 12.
Importantly, the article reassures investors that beyond the alteration in names, there will be no changes in the features, terms, and conditions of the affected schemes. All other aspects specified in the Statement of Additional Information (SAI) of the fund, Scheme Information Documents (SIDs), and Key Information Memorandums (KIMs) will remain unchanged.
The fund house has committed to updating the necessary documents, including the SAI, SIDs, and KIMs, to reflect the changes in names. The addendum accompanying the notice is deemed an integral part of these documents.
In conclusion, Invesco Mutual Fund’s decision to rename these schemes reflects a strategic effort to better align with its business objectives. Investors can be assured that the fundamental attributes of the schemes remain intact, and regulatory approvals have been obtained for this rebranding initiative. The table above provides a concise overview of the old and new names of the affected schemes.