Religare Invesco Mutual Fund today announced the launch of its new fund ‘Religare Invesco Global Equity Income Fund (an - open-ended fund of funds scheme). The Fund seeks to provide capital appreciation and/or income by investing in Invesco Global Equity Income Fund (Underlying Fund); a Luxembourg domiciled fund, which invests primarily in equities of companies worldwide and with assets under management of USD 525.23 million (Rs 32.60 billion).

Further under the global equity income strategy of Invesco manages a total of USD 4.53 billion. The underlying fund follows an unconstrained, valuation-led, bottom-up investment approach focusing on constructing a portfolio of the best global quality income ideas, which offer a  compelling mix of income, dividend growth and capital appreciation. The New Fund Offer of Religare Invesco Global Equity Income Fund opens for subscription today and will close for subscription on Apr. 28, 2014.    

The New Fund Offer (NFO) opens for subscription today and will close for subscription on Apr. 28, 2014.The fund offers both Growth and Dividend options. Units will be issued at Rs.10 each. For Lumpsum purchase, the minimum application amount is Rs 5,000 and in multiples of Rs 1 thereafter.

For SIP investments, the minimum application amount is Rs 500 under the monthly SIP option and Rs 1500 under the quarterly SIP option and in multiples of Rs1 thereafter. An exit load of 1% will be payable on investments redeemed on or before 18 months from the date of allotment. The fund is benchmarked to MSCI World Index- Net Dividend.   

Commenting on the launch, Saurabh Nanavati, managing director & chief executive officer, Religare Invesco Mutual Fund 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.''

''A globally diversified portfolio benefits from the performance of various underlying markets and limits exposure to a single overseas market, theme or sector thereby reducing country-specific risks and volatility. Pursuing investments in global markets help in curbing portfolio volatility given their low correlation to Indian equity market,'' he said.