Religare Invesco MF launches new fund of funds scheme

Religare Invesco Mutual Fund on Tuesday launched a new open-ended fund of funds scheme 'Religare Invesco Global Equity Fund'.

The new fund offer, which opens for subscription today, will close on April 28, 2014.

It seeks to provide capital appreciation by investing in Invesco Global Equity Income Fund, which is a Luxembourg domiciled fund that invests primarily in equities of companies worldwide, a company release said.

"The fund presents a perfect start for all investors seeking to invest in overseas equity markets and should be considered at the core of all offshore investments," Managing Director and Chief Executive Officer of Religare Invesco Mutual Fund, Saurabh Nanavati, said.

Religare Invesco Mutual Fund had an average assets under management of Rs 14,495.92 crore by the end of last fiscal.