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Invesco Mutual Fund has launched the 'India ESG Equity Fund' new fund offer, which aims to generate capital appreciation by investing 80-100 per cent of the net assets in the equity of companies based on Environmental, Social and Governance criteria.
The new fund will close on March 12. It will adopt a bottom-up approach to select stocks. While the fund will invest most of its assets in large-cap companies, it will also have up to 35 per cent exposure to mid-and small-cap companies. The fund is benchmarked to the Nifty 100 Enhanced ESG Index.
Saurabh Nanavati, Chief Executive Officer, Invesco Mutual Fund, said it is important to analyse a company through the ESG lens while governments and society penalise irresponsible companies.
On the other hand, he said companies with strong ESG proposition are creating value through increased top-line growth, lower production costs, better financing terms, government support and subsidies besides enhanced returns on capital invested.
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