Invesco India Asset Management Company is changing the names and category of few of its mutual funds. Mutual funds of many Asset Management Companies are being changed after a recent circular by Securities and Exchange Board of India. This move by the regulator to make investing simpler for investors.
The new rule states that every mutual fund company can only have one mutual fund offering under each category.
In this article
Invesco India Mutual Fund Name & Category Changes
Few Invesco India Mutual Fund names are changing, few are being merged, and few funds are being recategorized.
Invesco India Mutual Fund Name Change
This table contains the names of the Invesco India Mutual Funds whose names have changed:
| Old Name | Old Category | New Name | New Category |
| Invesco India Active Income Fund | An open-ended Income Scheme | Invesco India Corporate Bond Fund | An open-ended debt scheme predominantly investing in AA+ and above rated corporate bonds. |
| Invesco India Bank Debt Fund | An Open ended Debt Scheme | Invesco India Banking & PSU Debt Fund | An open ended debt scheme predominantly investing in Debt instruments of banks, Public Sector Undertakings, Public Financial Institutions and Municipal Bonds |
| Invesco India Corporate Bond Opportunities Fund | An Open ended Income Scheme | Invesco India Credit Risk Fund | An open ended debt scheme predominantly investing in AA and below rated corporate bonds (excluding AA+ rated corporate bonds) |
| Invesco India Credit Opportunities Fund | An Open-ended Income Scheme | Invesco India Money Market Fund | An open ended debt scheme investing in money market instruments |
| Invesco India Gilt Fund | An Open ended Dedicated Gilt Fund | Invesco India Gilt Fund | An open ended debt scheme investing in government securities across maturity |
| Invesco India Medium Term Bond Fund | An Open-ended Income Scheme | Invesco India Ultra Short Term Fund | An open ended ultra-short term debt scheme investing in instruments such that the Macaulay duration^ of the portfolio is between 3 months to 6 months |
| Invesco India Monthly Income Plan (MIP) Plus | An Open Ended Income Scheme. Monthly income is not assured and is subject to availability of distributable surplus. The term ‘Plus’ has been used in terms of the asset allocation and not in terms of returns/yield. | Invesco India Regular Savings Fund | An open ended hybrid scheme investing predominantly in debt instruments. |
| Invesco India Ultra Short Term Fund | An Open-ended Debt Scheme | Invesco India Treasury Advantage Fund | An open ended low duration debt scheme investing in instruments such that the Macaulay duration^ of the portfolio is between 6 months to 12 months |
| Invesco India Arbitrage Fund | An Open-ended equity scheme | Invesco India Arbitrage Fund | An open ended scheme investing in arbitrage opportunities |
| Invesco India Banking Fund | An Open-ended Banking Sector Scheme | Invesco India Financial Services Fund | An open ended equity scheme investing in financial services sector |
| Invesco India Business Leaders Fund | An Open-ended Equity Scheme | Invesco India Largecap Fund | Large Cap Fund – An open ended equity scheme predominantly investing in large cap stocks |
| Invesco India Contra Fund | Invesco India Contra Fund | Invesco India Contra Fund | An open ended equity scheme following contrarian investment strategy |
| Invesco India Dynamic Equity Fund | An open ended equity scheme | Invesco India Dynamic Equity Fund | An open ended dynamic asset allocation fund |
| Invesco India Growth Fund | An Open ended diversified equity scheme | Invesco India Growth Opportunities Fund | Large & Mid Cap Fund – An open ended equity scheme investing in both large cap and mid cap stocks |
| Invesco India Mid Cap Fund | An Open ended equity scheme | Invesco India Midcap Fund | Mid Cap Fund – An open ended equity scheme predominantly investing in mid cap stocks |
| Invesco India Mid N Small Cap Fund | An Open ended equity scheme | Invesco India Multicap Fund | Multi Cap Fund – An open ended equity scheme investing across large cap, mid cap, small cap stocks |
| Invesco India PSU Equity Fund | An open ended equity Scheme | Invesco India PSU Equity Fund | An open ended equity scheme following PSU theme |
Invesco India Mutual Fund Names Changed: What should Investors do?
If Mutual Fund Name & Category Has Changed
If there is a change in category, an investor might have to change his strategy of investment in these funds. These extreme changes are largely in equity mutual funds. Debt funds category names have changed too but there is not much difference in their investment style.
If an investor is confused, he should contact his mutual fund advisor for his advice on this issue.
If Mutual Funds Are Being Merged
If mutual funds are being merged, investors should not worry as the Asset Management company will take care of the merger. Since in the mergers, there is no real change in category, so investors need not make any changes to his investment strategy.
If Only Mutual Fund Name Has Changed
If only the name of the mutual fund scheme has changed, then there is no need to be concerned or do anything. Investors can simply continue investing as they already were.
Why are Invesco Mutual Fund Names and Categories Changing?
There are many mutual funds offered by different Asset Management Companies. Many of these are in effect duplicates of each other. Further, they also have names that might confuse and intimidate a new investor.
Keeping this in mind, the Securities Exchange Board of India has decided to recategorize mutual fund schemes. It has also made compulsory that each Asset Management Company can only have one mutual fund under each category.
Thus, all Asset Management Companies are renaming, recategorizing, and merging mutual funds to comply with this directives by the regulator.
To see the best mutual funds to invest from every category, see: The 30 Best Mutual Funds to Invest in 2018 – Groww 30.
Happy investing!
Disclaimer: the views expressed here are of the author and do not reflect those of Groww.
Investment in securities market are subject to market risks, read all the related documents carefully before investing. Please read the Risk Disclosure documents carefully before investing in Equity Shares, Derivatives, Mutual fund, and/or other instruments traded on the Stock Exchanges. As investments are subject to market risks and price fluctuation risk, there is no assurance or guarantee that the investment objectives shall be achieved. NBT do not guarantee any assured returns on any investments. Past performance of securities/instruments is not indicative of their future performance.
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