Both New Fund Offers (NFOs) opened for subscription on September 15 and will close on September 29.
The Invesco India Nifty India Defence Index Fund is an open-ended scheme that will replicate the Nifty India Defence Index. It will invest in the index constituents in the same weights as the benchmark, subject to tracking error. The index provides exposure to companies across areas such as aerospace and defence manufacturing, defence electronics, shipbuilding and explosives.
The Invesco India Nifty Chemical Index Fund will track the Nifty Chemical Index. The index comprises companies operating across specialty chemicals, agrochemicals, commodity chemicals, fertilisers, industrial gases, explosives and related segments.
Both schemes will invest in equity and equity-related securities and aim to generate returns corresponding to the performance of their respective benchmarks, subject to tracking error.
The fund house said the defence sector is benefiting from higher defence spending, indigenisation initiatives and export opportunities, while the chemical sector is seeing growth opportunities from domestic consumption, value-added manufacturing and global supply-chain diversification.
Both schemes will be managed by Abhisek Bahinipati.The minimum investment during the NFO for both schemes is ₹100, followed by investments in multiples of ₹1. Investors can also opt for daily SIPs with a minimum investment of ₹20 through digital platforms, weekly and monthly SIPs of at least ₹100, or quarterly SIPs of at least ₹300.
The schemes will not charge any exit load, according to the fund house.
