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The new fund offer of Invesco India Focused 20 Equity Fund, a multi-cap fund, has mopped up ₹602 crore.
The focussed fund, which will have a 20-stock portfolio, received 29,240 applications from investors across 855 cities and towns in India. The fund will reopen for ongoing subscription from October 5.
Also read: Invesco India Focused 20 Equity NFO: A concentrated bet
Saurabh Nanavati, Chief Executive Officer, Invesco Mutual Fund, said the consistent track record of performance across equity schemes of the fund house has helped garner assets during the NFO.
All the collections received during the NFO came from third party distributors, including banks, national distributors, independent financial advisers and the fund house's digital partners, he added.
The fund seeks to generate capital appreciation by investing in up to 20 stocks with a flexibility to move across the market capitalisation range. It will adopt a high conviction approach to investing with meaningful allocation to each stock idea yet maintaining a balance between conviction and diversification, said a company release.
The fund is benchmarked to the S&P BSE 500 TRI.
Invesco Asset Management has over ₹34,614 crore of assets under management across mutual funds, PMS and offshore advisory as of the June quarter.
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