Invesco EQQQ Nasdaq-100 ETF has been launched


Invesco Mutual Fund has created a new open-ended fund of fund scheme, Invesco EQQQ Nasdaq-100 ETF Fund of Fund, which invests in the Invesco EQQQ Nasdaq-100 UCITS ETF. The Invesco EQQQ Nasdaq UCITS ETF fund, which tracks the Nasdaq 100 index, will get 95 percent of the fund’s net assets.

The New Fund Offer (NFO) is now open for subscription and will close on April 13. The underlying fund is based in Ireland and has been around for over 19 years. As of February 28, 2022, the fund had assets under administration of around Rs. 45,873 crore (US$6.09 billion).

“The NASDAQ-100 is more than simply an index; it is home to the world’s most prominent and inventive companies* including Apple, Amazon, Microsoft, Tesla, Alphabet, and others,” said Saurabh Nanavati, Chief Executive Officer, Invesco Mutual Fund, speaking at the launch. Furthermore, the NASDAQ-100 is not just for technology companies; it also includes disruptors and top names from a variety of industries, including consumer discretionary, healthcare, and others. It’s no wonder that these businesses are changing the world and represent a good investment.”

“Our worldwide firm alone manages over US$ 423 billion in global ETFs (overall AuM of US$1.5 trillion)1 and one of the largest Nasdaq-100 Index funds. By using our parent’s worldwide investing expertise, we are committed to bringing novel investment techniques to India for our Indian investors.” Nanavati continued.

The fund will give exposure to the 100 largest US and foreign non-financial companies listed on the Nasdaq Stock Market based on market capitalization, according to the fund company.

During the NFO, the minimum investment amount is Rs 1,000, with further investments in multiples of Rs 1. The minimum application amount for SIP investments is Rs 500, with subsequent payments in multiples of Rs 1. On redemptions, the fund will not charge an exit load.

A mutual fund is a type of financial vehicle that pools money from multiple investors to invest in securities such as stocks, bonds, money market instruments, and other assets.

Mutual funds are managed by professional money managers who allocate assets and try to generate capital gains or income for the fund’s investors. A mutual fund’s portfolio is constructed and managed to achieve the investment objectives stated in the prospectus.

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