Invesco Global Consumer Trends – FOF – should you invest ?

December 11th, 2020

Invesco India Mutual fund launches a Fund of Fund offer for Invesco India Global Consumer Trends.

The Fund will invest in Invesco Global Consumer Trends fund, a Luxembourg domiciled Invesco Fund, which invests in a global portfolio of equities focussed on discretionary consumer needs of Individuals.

The underlying fund offers the investors exposure to global companies that may benefit from changing consumer trends, over the long term.  The fund has invested currently in a wide range of investment themes like e-commerce, entertainment, internet services, autonomous driving to active lifestyles.

The fund managers follow a continuous process of identifying companies with high-quality earnings growth and potential for favourable capital appreciation by gaining share in discretionary demand.

Do read my earlier article on why you should invest in a global fund here.

Let’s understand and review the underlying fund: Invesco Global Consumer Trends fund

AUM : USD 2.76 Billion – INR 20,416.60 Crores.

Benchmark: MSCI World Consumer Discretionary Index – Net Dividend

Fund Domiciled: Luxembourg

Portfolio Managers –  Ido Cohen (Lead PM since May 2011) & Juan Hartsfield, CFA, January 2009

Other Highlights:

1. Flexible approach – The fund is Flexible with a concentration towards companies that are expected to profit from changing consumer discretionary trends: currently eCommerce, digital media consumption, demographic shifts towards experiences over material goods or towards healthier lifestyles, and global consumer durable and non-durable goods cycles.

2. Rigorous investment approach – The team’s investment approach is a bottom-up, research-driven process that enables them to narrow the field of stocks to identify those companies best able to capitalize on key themes driving consumer spending.

3. Experienced team – The fund managers of underlying fund, Ido Cohen (lead) and Juan Hartsfield offer clients an average of 22 years’ fund management

Performance of the fund

Invesco Global Consumer Trends fund - Performance in USD

Fund C- ACC Shares
1 year35.18%19.35%
3 years14.88%13.04%
5 years16.12%11.05%
10 years16.51%12.83%
Since Inception9.57%6.49%

Invesco Global Consumer Trends fund - Performance in INR

Fund C-Acc Shares
1 year41.23%24.70%
3 years20.16%18.23%
5 years19.08%13.89%
10 years22.62%18.75%
Since Inception12.37%9.21%


Top 10 Holdings as on 31st October 2020

Top Holdings
% of Net Assets
Alibaba 7.9
Penn National Gaming 6.4
Lowe's 3.9
Caesars Entertainment 3.8
SEA 3.7 3.5
Farfetch 3.1
Nintendo 3.0
Activision Blizzard 2.7



Should you invest in the NFO ?

Investing Globally not only provides you the much needed access to the business which are truly global but also adds diversification that’s neccesary to build a healthy Investment portfolio. The fund gives you the access to invest in the successful companies which are at the forefront of the changing consumer trends.

The fund remains dominated by digital lifestyle themes, which currently represent majority of the portfolio.

Everything is changing during the tough Covid times, i.e. the way we shop, travel, consume entertainment and connecting with the world through social media…

What we are witnessing is a generational shift in consumer behaviors and most of these trends are here to stay.

We Recomend Investment in the Fund for a long term, and benefit from consumer trends driven by changes in standards of living, demographics, connectivity and digital lifestyle.

Claim your Unpaid Dividends, Shares From Investor Education & Protection Fund

July 16th, 2020

Investor Education and Protection Fund (IEPF)

IEPF stands for Investor Education and Protection Fund. IEPF is a government entity set up under the Ministry of Corporate Affairs.

For Administration of the IEPF Government of India on the 7th September 2016 established as Investor Education and Protection Fund Authority under the provisions of section 125 of the Companies Act, 2013.

The Authority is entrusted with the responsibility of administration of the Investor Education Protection Fund (IEPF), make refunds of shares, unclaimed dividends, matured deposits/debentures etc. to investors and to promote awareness among investors.

The IEPF is to be utilized for

  • The refund in respect of unclaimed dividends, matured deposits, matured debentures, the application money due for refund and interest thereon
  • Promotion of investors’ education, awareness and protection
  • Distribution of any disgorged amount among eligible and identifiable applicants for shares or debentures, shareholders, debenture-holders or depositors who have suffered losses due to wrong actions by any person, in accordance with the orders made by the Court which had ordered disgorgement
  • Reimbursement of legal expenses incurred in pursuing class action suits under sections 37 and 245 by members, debenture-holders or depositors as may be sanctioned by the Tribunal and
  • any other purpose incidental thereto, in accordance with such rules as may be prescribed: Provided that the person whose amounts referred to in clauses (a) to (d) of sub-section (2) of section 205C transferred to Investor Education and Protection Fund, after the expiry of the period of seven years as per provisions of the Companies Act, 1956, shall be entitled to get refund out of the Fund in respect of such claims in accordance with rules made under this section.

Meaning & Concepts

Unpaid Dividend

Dividend which is not paid or claimed within 30 days from its date of declaration

Unpaid Dividend Account

Dividend which is not paid or claimed within 30 days from its date of declaration, then the company within 7 days shall transfer such amount to a special account namely “Unpaid Dividend Account” which will be opened by Company in a schedule bank.

As per the provisions in rules, any amount transferred to the Unpaid Dividend Account of the company pursuant to Section 124(1) of the Companies Act. 2013, which is unpaid or unclaimed for more than 7 years from the date of declaration dividend shall be transferred along with interest accrued, if any, to the Investor Education and Protection Fund (IEPF).

The company shall submit the statement stating the details of such transfer in the prescribed format to the IEPF Authority and the authority shall issue a receipt as a proof of the transfer.

In case of shares for which the dividend is not paid or claimed for more than 7 years continuously shall be transferred to the IEPF by the company attaching with it the statement providing details about the transfer

Procedure for Claiming Shares/Dividend from IEPF

Any person, whose unclaimed or unpaid amount has been transferred by the company to IEPF may claim their refunds to the IEPF authority. For claiming such amount, claimant needs to file form IEPF-5 alongwith requisite documents.

  1. Download the form IEPF-5 from the website of IEPF ( for filing the claim for refund. Read the instructions provided on the website/instruction kit along with the e-form carefully before filling the form.
  1. After filling the form save it on your computer and submit the duly filled form by following the instructions given in the upload link on the website. On successful uploading an acknowledgement will be generated indicating the SRN. Please note the SRN for future tracking of the form.
  1. Take a printout of the duly filled IEPF-5 and the acknowledgement issued after uploading the form.
  1. Submit indemnity bond in original, copy of acknowledgement and self-attested copy of e-form along with the other documents as mentioned in the Form IEPF-5 to Nodal Officer (IEPF) of the company at its registered office in an envelope marked “Claim for refund from IEPF Authority”.
  1. Claim forms completed in all aspects will be verified by the concerned company and on the basis of company’s verification report, refund will be released by the IEPF Authority in favor of claimants’ Aadhaar linked bank account through electronic transfer.

Only one Form can be filed for one financial year against one Aadhaar Number and one Company. User can enter more than one claim in single form, failing which the form is liable to be rejected

For Assistance or guidance do contact us.

Do leave your comments and feedback.

Important links :

  1. Search at IEPF for your unclaimed amount :
  2. Faqs :

The Article was originally published at by the author.

A Late Start to Retirement Planning – Strategies to catch up

May 20th, 2015

“A year from now you may wish you had started today.”  – Karen Lamb

Are you 40 plus.. and haven’t started your retirement savings yet.. don’t panic. You can still make solid progress toward your financial goals if you make the effort now

From a Retirement Planning perspective this decade (40 to 50 years) is of utmost importance. Your Career is probably blooming and the 50’s are always the best earning years in one’s career.

Retirement Planning

Getting Started Right now :

Forget the past and start by estimating the amount you would require for a comfortable retirement. Take a pen & paper and note down the assets or savings you have which you can allocate to retirement savings. Get a rough estimate of your monthly expenses you would require after your retirement.

Also estimate how much you can save every month which can be allocated to the long term savings.

Finding the money to save

Eliminate all unnecessary expenses. Spending is sometimes just a habit which you need to modify or divert yourself in habits which are more satisfying and enriching.Take a look at expenses you would like to give up today to make an investment for your future. You will find many of them especially the subscriptions which you end up paying which are of no real use, for e.g a magazine subscription you never find time to read, or a Gym membership where you rarely go. Negotiate for  better rates with telecom companies for telephone as well as internet usage.

Automate your savings

As soon as your pay-checque reaches your bank account, arrange for an auto-mated SIP/switch to Investment account. You will not miss – what you never had. The feeling of your retirement corpus being funded will offset the feeling of spending less.

Invest all extra funds to retirement account

Expenses tend to rise with rising income, but try to avoid it. Whatever increments you get, bonuses, incentives you get divert at least half of those funds to your retirement account.

If you get unexpected money such as by inheritance, stock options etc invest the same to the retirement corpus rather than buying a new car or going for a vacation.

This strategy would be the key to your retirement planning success.

Spend on yourself

The Decade of ages 40-50 are crucial in one’s career. Invest in upgrading and educating yourself to tap the opportunities to the fullest. Keep learning in 40’s, attending classes and training programs which would give up benefits in your 50’s while you reach the peak of your career.

Also spend on good health and food. Being a healthy person you will automatically save the high medical costs of the future.

Invest more Aggressively

Don’t be conservative with your retirement savings because at 40 you still are two decades away your retirement.  Invest in well researched equity shares and Mutual funds. It may expose your portfolio to some volatility but if you invest all your savings to fixed income you may not be able to keep up with Inflation.

Review your Portfolio and Re-balance

Asset allocation is the key to success of any investment. Review your portfolio at-least once in a year and make necessary adjustments keeping in mind the best you can do with the time you have.


Sandwich Generation & their Finances

May 7th, 2015

Sandwich Generation is the term used for people who care for their aging parents while supporting their own children.

India is known for it’s family values since ages, when an Indian speaks of family he does not limit it’s meaning to spouses and children. The Circle of Care in Indian families embraces all generations.

With Increase in Life expectancy and a generation of young adults struggling for financial independence the burden and responsibilities shift to the Middle Aged who still have to build their own retirement nest.

The phenomenon is not new, but the dynamics have changed considerably, families are smaller than they once were, so there might be fewer siblings to share the burden and with more women in the workforce having the extra responsibility of yet another person to care for squeezes their time which also leads to extra burden on the couple.

How should you Plan ?

As you have two sets of dependents leaning on your financial house, be sure it’s strong and sturdy.

  • Maintain a Decent Contingency/ Emergency Cash Reserve
  • Take appropriate Insurance covers for yourself – Protecting your family from the risk of your disability or death is more important than ever.
  • Take sufficient cover for long term health for yourself and your family – Proper Insurance coverage will reduce your burden financially in case of any eventuality
  • Do not belittle the importance of your own Retirement Planning, continue with your savings – If at all possible, don’t use your retirement savings—whether through loans or early withdrawals—to support your kids or parents. Withdrawing from your retirement funds could leave you inadequately prepared for retirement and force your children to support you financially. You should break the cycle.
  • For Eduction Cost of your child opt for Education Loan

How to deal with both sides ?

Your Children : Your children are watching and learning from you. Have an open dialogue with them on importance of financial planning. Children raised with money management skills will be better prepared for their own financial success.Prepare a Financial plan and save accordingly for children education and marriage.

Your Parents : Know your parents’ total financial picture, help them in managing their funds. Help them in their Estate Planning. Take special care that they are safe, make necessary changes in the house required for the elderly. Devote some quality time.

Above all, be realistic about what you can do. Don’t expect too much of yourself, either emotionally, physically or financially.

Getting on Track for Retirement

April 30th, 2015

No matter where you are on your life path, take a moment to stop and imagine what your retirement would look like. Even if it seems far away try to focus on the picture as it’s vital to get on track for your retirement journey.

Important factors you need to consider before starting your Retirement Journey :

A. Life Expectancy : As per the latest statistics from the Union Ministry of Health and Family Welfare Life expectancy in India has gone up by five years in 2011-15. The Life expectancy for males have gone up from 62.3 years to 67.3 years and for females from 63.9 years to 69.6 years. So to say an Average Male in India would live around 67 years and female 70 years.

Before you make any assumptions I would like to draw your attention to the fact that there is a significant life expectancy gap between the affluent and deprived communities worldwide. If you are a  normal healthy person, having above average financial status, with improved health care facilities in India you have a fair chance to be an octogenarian. So you need to plan for 20-25 years post retirement taking into consideration the age of retirement at 60.

B. Phases of Retirement : Retirement is a major life changing event which an individual has to pass through. A  research by Robert C. Atchley, professor emeritus at Miami University, Ohio has developed six descriptive phases of retirement that represent a transitional process individuals go through when they permanently exit the workforce.

Phase 1 : Pre-retirement – A Phase where an Individual has to disengage from his workplace and plan for retirement.

Phase 2 : Retirement – When an Individual retires, takes one of the following paths.

  • The honeymoon – path is characterized by feeling and acting as if one is on vacation indefinitely.Men and women become very busy doing many of the leisure activities they never had time for previously, especially travel.
  • The  Immediate Retirement Routine – This path is followed by an Individual who already had an active schedule in addition to his/her employment. These individuals easily establish comfortable yet busy schedules soon after retirement
  • Rest and Relaxation This path is described as a period of very low activity as compared to the “honeymoon” path. Persons who have had very busy careers with limited time to themselves frequently choose to do very little in their early retirement years. However, activity levels do increase after a few years of rest and relaxation.

Phase 3 : Disenchantment – For some people, adjusting to retirement is not an easy experience. Following the honeymoon period or a time of continued rest and relaxation, there may be a period of disappointment or uncertainty. A person may miss the feelings of productivity they experienced when working.

Phase 4 : Reorientation – After a period of rest and relaxation or feelings of disenchantment, it is common for people to “take inventory” of their retirement experience and outline ways that will improve their retirement role. Becoming more involved in community activities, taking up a new hobby or relocating to a more affordable setting may contribute to this “second chance” at retirement. A common goal of reorientation is to design a retirement lifestyle that is satisfying and enjoyable.

Phase 5 : Retirement Routine – Mastering a comfortable and rewarding retirement routine is the ultimate goal of retirement. Some adults are able to do this soon after they leave employment, while others take longer, only finding their way after years of extended leisure or a period of disenchantment. Once a fulfilling and comfortable retirement routine has been found, this phase of retirement can last for many years.

Phase 6 : Termination of Retirement – Eventually the retirement role becomes less relevant in the lives of older adults. When a person can no longer live independently due to disability or illness, the role of disabled elder becomes the primary focus of his or her life.

These phases do not apply to everyone, of course, because retirement is experienced on an individual basis; however, these phases do provide a guide for thinking about what some individuals may encounter when they transition into the retirement stage of life.

You can go through the research by Robert C. Atchley here

 C. Put time on your side : Getting started today will help you put time on your side. You must have invested in various instruments like the EPF, PPF, Mutual Funds, Bonds & Equity shares. It is important you first figure out the lifestyle you would like to live after retirement. Don’t forget to factor in Inflation as it does not retire..

You need to find out how much you will need for retirement, and later on determine how much you will need to save every month. An appropriate asset allocation strategy for your investments is also important.

Chart and review your progress once you start on your path..

More to continue on the Preparation of Retirement Plan in the next article…

Budget 2014 – Containing Fiscal Deficit

July 9th, 2014

invest in india

India is the 10th largest economy on the planet and one of the fastest growing economies. However, it
has a public debt-to-GDP ratio of 49.6%. The interest burden is quite high and can be seen every year in
the budget. But overall, India is currently in a better position than most countries in the world. It has a
new government which is supported by an overwhelming majority of people nation-wide. Following are
some economic indicators which tell us the current economic condition of India:

• Inflation at 8.28% (as per CPI)
• Rising unemployment
• Downtrend in savings as a % of GDP due to negative real returns on savings
• Inelastic demand for imports (oil and gold)
• Rising factor costs due to inflation
• Expected growth at around 5-5.9%
• 10 year Govt. bond yield 8.71%
• High interest rates and therefore, high costs of capital

Read the full report Budget 2014-15


Recommended Mutual Funds – Large Cap

February 18th, 2014

Equity is a powerful asset class that offers potential for long term wealth generation. However this potential is only realized for those investors that are able to maintain a diligent and disciplined approach towards it. The Investors should also select the schemes wisely wherein the fund managers are aligned in their long term approach to risk management and wealth creation.

Large Cap Equity Mutual Funds make a base for your equity portfolio and should weigh atleast 35-40% of your equity portfolio.

BIA Capital Recommends  following Large Cap Funds for your Mutual Fund Portfolio.

  Return as on 11-02-2014 (Returns above one year are CAGR) Ratios based on 3 years performance
Name of the Funds AUM (in crs.) as on 31-12-2013  YTD  1 month  3 month  1 year  3 year  5 years  10 year  Beta  Alpha  Sharpe Ratio
ICICI Prudential Focused Bluechip Equity Fund 4,705 -2.22% -0.75% 1.85% 7.48% 8.94% 22.36% 0.85 0.34 0.451
Birla Sl Frontline Equity Fund 3,586 -3.32% -1.59% 1.86% 5.41% 8.25% 20.59% 17.90% 0.90 0.36 0.38
Axis Equity Fund 603 -4.38% -2.67% 0.23% 7.64% 8.85% 0.83 0.35 0.47
Franklin India Bluechip Fund 4,958 -3.35% -1.41% 1.07% 0.28% 5.45% 19.17% 15.97% 0.87 0.08 0.273
Edelweiss Diversified Growth Equity Top 100 Fund 22 -4.10% -2.29% 0.83% 7.62% 9.39% 0.82 0.35 0.464

A brief note on the recommended funds :

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Economic Indicators – IIP or PMI data..

February 6th, 2014

Economic data or indicators provide measurements for evaluating the health of the economy. They also give us a fair view of the current business cycles, Investment and consumption patterns.

Economic Indicators are broadly categorized as Leading Indicators & Lagging Indicators.

Leading Indicators : These Indicators indicate a change even before the economy factors the adjustments. They are based on current data & are forward looking , discount the current values according to future expectations. Stock Markets are the perfect example of a Leading Indicator.

Lagging Indicators :  These Indicators reflect the economy’s  historical performance and confirm the trends with a time lag. They provide us a confirmation of where we are and where we have been.  Unemployment data is a lagging indicator. The unemployment rate may show increase even if the economy is recovering. Historically data suggests the Markets turn much before the Unemployment rate peaks.

Today we are going to discuss two important manufacturing data points

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Financial Planning Process by FPSB

February 3rd, 2014

The financial planning process consists of the following six steps:

  1. Establish and define the client-planner relationship.The financial planner should clearly explain and document the services that he or she will provide to you and define both his/her and your responsibilities during the financial planning engagement. The financial planner should explain fully how he or she will be paid and by whom. You and the planner should agree on how long the professional relationship should last and on how decisions will be made.
  2. Gather client data, including goals.The financial planner should ask for information about your financial situation. You and the planner should mutually define your personal and financial goals, understand your time frame for results and discuss, if relevant, how you feel about risk. The financial planner should gather all the necessary documents before giving you the advice you need.

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It’s not that hard to be a millionaire..take the first step to wealth

January 30th, 2014

Today’s article reminds of the following quote :

The First step is always the hardest, but it’s the only way to reach the second step. – Susan Gale

Being a Millionaire, a multi-millionaire or in the Indian Context being a Crorepati is always desirable. It is achievable too if you have disciplined savings approach.

Let’s analyse how one can achieve this wealth accumulation goal. As we know The First Step is always hardest – Accumulating the First Crore is hardest but later on the your savings have a multiplying effect.

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