Girl Power: Instruments To Help You Achieve Your Daughter’s Financial Goals
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Covid-19 was raging and several parts of Mumbai were locked down, but that didn’t stop Sarika Sinha from giving her daughter the best gift a parent can. Last month, the Mumbai-based finance professional opened a Sukanya Samriddhi Yojana account for her daughter Praashvi, now two. “I will put the maximum Rs 1.5 lakh in this scheme every year,” she beams. Financial planners say the Sukanya scheme is a good option for parents with daughters below 10 years. “The scheme offers assured returns, so there is a predictable compounding of the investment every year,” says Prableen Bajpai, founder and managing partner, FinFix Research and Analytics. “What’s more, the interest is fully tax free. Parents should not let go of this opportunity,” she adds.
Invesco Mutual Fund bets on digital lifestyle with Global Consumer Trends Fund
The fund has 67% of its portfolio in the US, followed by 13% in other developed markets and 21% in emerging or frontier markets. Photo: iStockPremium
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Invesco Mutual Fund has launched its Global Consumer Trends Fund of Funds (FoF) focusing on global changes in standard of living, demographics, connectivity and lifestyle. The Fund will feed into the Invesco Global Consumer Trends Fund, a Luxembourg domiciled fund. The underlying fund is benchmarked to the MSCI Consumer Discretionary Index and has a size of $2.76 billion.
The fund, launched on 4 December, is dominated by e-commerce (31%), followed by restaurants, hotels and casinos (22%) and video games, entertainment and software (17%). It is underweight on traditional sectors like automobiles and textiles.