Invesco India PSU Equity Fund Direct Growth Review 2026: NAV, Returns, Portfolio & Should You Invest?
- September 10, 2026
- Posted by: Chaitanya Auti
- Category: Mutual Funds
Invesco India PSU Equity Fund Direct Growth Plan has a NAV of ₹77.22 as of 09 Sep 2026 and an AUM of ₹1,454 Cr. Its 1-year, 3-year and 5-year returns are 6.75%, 19.37% and 21.23%, and it carries a High Risk profile. Our view is that the fund suits investors who can handle sharp swings in PSU-linked equity exposure and who are comfortable with a return pattern that has been strong over longer periods but softer in the near term.
The fund’s recent behaviour has been more muted than its 3-year and 5-year track record, while the benchmark has lagged across the same longer windows. That mix makes it more suitable for investors with a longer horizon who want exposure to a concentrated basket of public-sector names rather than a broad market style.
Quick facts
| Particular | Details |
|---|---|
| NAV | ₹77.22 as of 09 Sep 2026 |
| AUM | ₹1,454 Cr |
| Expense Ratio | 0.93% |
| Launch Date | 01 Jan 2013 |
| Min SIP | ₹100 |
| Risk Category | High Risk |
| Benchmark | Nifty 50 |
| Fund Category | Equity |
| Exit Load | Nil upto 10% of units and 1% for above the limits on or before 1Y, Nil after 1Y |
| Fund Managers | Sagar Gandhi, Hiten Jain |
The fund is managed by Sagar Gandhi and Hiten Jain.
Source data date: as of 09 Sep 2026
Performance
| Period | Fund return | Benchmark return |
|---|---|---|
| 1M | -2.92% | -4.69% |
| 3M | 0.49% | 0.93% |
| 1Y | 6.75% | -7.16% |
| 3Y | 19.37% | 6% |
| 5Y | 21.23% | 5.87% |
In the near term, the fund has been uneven but not weak in an absolute sense. The 1-month return is still negative, yet it has fallen less than the benchmark over the same period, and the 3-month return is modestly positive. That tells us the fund has recently moved through a softer patch, but the short-term path has remained more resilient than the benchmark.
The longer view is more important here. Over 1 year, 3 years and 5 years, the fund has stayed well ahead of the benchmark, which has remained well below the fund’s pace over each of those windows. The 3-year and 5-year numbers point to a materially stronger compounding pattern than the benchmark, even though the most recent stretch has not matched that strength.
The return series also suggests that this is not a smooth ride. Gains have come in waves, with periods of recovery followed by pullbacks, which is consistent with a higher-volatility style. For investors, that means the fund’s appeal lies less in steadiness and more in its ability to build value over time when the underlying PSU theme is in favour.
Source data date: as of 09 Sep 2026
Should you BUY or HOLD Invesco India PSU Equity?
A fund’s past returns alone don’t tell you whether you should buy it today or continue holding it.
The right decision depends on factors such as your current allocation, purchase price, risk profile, investment horizon and the role this fund plays in your overall portfolio.
Already holding Invesco India PSU Equity? Thinking of investing now?
Peer comparison
| Fund | 1Y return | 3Y return | 5Y return |
|---|---|---|---|
| Invesco India PSU Equity Fund Direct Growth Plan | 6.75% | 19.37% | 21.23% |
| ICICI Pru Strategic Metal and Energy Equity FoF Direct Growth Plan | 71.49% | 36.55% | Data not available |
| Motilal Oswal Active Momentum Fund Direct Growth Plan | 30.08% | Data not available | Data not available |
| Kotak Healthcare Fund Direct Growth Plan | 28.85% | Data not available | Data not available |
| HDFC Pharma and Healthcare Fund Direct Growth Plan | 28.6% | Data not available | Data not available |
| PGIM India Healthcare Fund Direct Growth Plan | 27.47% | Data not available | Data not available |
This assessment is prepared by Uniapps Investment Adviser Pvt. Ltd. under SEBI Registered Investment Adviser registration INA000017639. The fund’s 1-year return trails the strongest peer figures in this set, but that short window should be read alongside the stronger 3-year and 5-year results. On those longer horizons, it compares more comfortably because several peers do not have available figures, while the fund itself has maintained a solid multi-year record.
So the peer picture is mixed: the fund is not the most aggressive recent performer in the group, yet its longer-term record remains meaningful. That makes the short-term comparison less flattering than the longer-term comparison, which is important for investors who judge a fund by both momentum and durability.
Source data date: as of 09 Sep 2026
Want to know more? Log in to Univest for more mutual fund insights.
Portfolio: where your money goes
| Holding | Sector | Weight |
|---|---|---|
| Hindustan Aeronautics Limited | Capital Goods | 8.34% |
| Indian Bank | Bank | 7.72% |
| State Bank of India | Bank | 7.7% |
| Dredging Corporation of India Limited | Logistics | 6.74% |
| Bharat Electronics Limited | Capital Goods | 5.54% |
| Bharat Petroleum Corporation Limited | Crude Oil | 4.73% |
| Container Corporation of India Limited | Logistics | 4.47% |
| SBI Life Insurance Company Limited | Insurance | 4.08% |
| Bharat Dynamics Limited ‡ | Capital Goods | 4.06% |
| Honeywell Automation India Limited | Consumer Durables | 3.95% |
The largest holding, Hindustan Aeronautics Limited, carries an 8.34% weight, which is large enough to matter but not so dominant that it defines the fund alone. The weight then steps down through Indian Bank and State Bank of India before reaching Honeywell Automation India Limited at 3.95%, so the top end is clearly important without being a single-stock fund.
The top 10 holdings together account for approximately 57.33% of the portfolio, and the fund has 28 disclosed holdings in total. That tells us the portfolio is concentrated enough for a few names to have greater influence, yet broad enough to include a longer tail beyond the visible top positions. In our view, this concentration may help the fund express a strong PSU theme, but it also means individual stock moves could have a noticeable effect on returns.
Because the list includes banks, capital goods, logistics, crude oil, insurance and consumer durables, the exposure is not limited to one business line. Even so, the highest weights sit in PSU-linked and government-linked names, so the portfolio may remain sensitive to sentiment around that part of the market.
To see all holdings, visit the Invesco India PSU Equity Fund Direct Growth Plan page
Source data date: as of 09 Sep 2026
Who should invest
This fund fits investors who are comfortable with High Risk equity exposure and who can stay invested for at least a medium-to-long horizon. The 1-year return is positive but modest, while the 3-year and 5-year figures are much stronger, so the fund looks better suited to patient investors than to anyone looking for smooth short-term outcomes.
The main trade-off is clear: you get meaningful long-term upside potential if the PSU theme stays supportive, but you also accept sharper swings than a broad-market fund. The benchmark comparison is a plus on longer windows, yet the portfolio is concentrated enough that stock-specific and sector-specific moves can materially affect performance.
Tax and exit load
| Holding period | Tax rate | Description |
|---|---|---|
| Units held less than 1 year | 20% | Short-term capital gains tax |
| Units held more than 1 year | 12.5% | Long-term capital gains tax |
Exit load applies as nil up to 10% of units and 1% for the portion above the limit if units are sold on or before 1 year. There is no exit load after the holding period.
Source data date: as of 09 Sep 2026
Frequently asked questions
What is the current NAV of Invesco India PSU Equity Fund Direct Growth Plan?
The current NAV is ₹77.22 as of 09 Sep 2026.
What are the 1-year, 3-year and 5-year returns?
The fund’s 1-year return is 6.75%, its 3-year return is 19.37% and its 5-year return is 21.23%.
How does the fund compare with Nifty 50?
It has outpaced Nifty 50 over 1-year, 3-year and 5-year periods. The benchmark return is -7.16% over 1 year, 6% over 3 years and 5.87% over 5 years.
How does it compare with peer funds on recent returns?
Its 1-year return is below the strongest peer figures shown here, but the longer-term numbers remain solid. Several peer funds do not have 3-year or 5-year figures available, so the comparison is more decisive on the recent period than on the longer horizon.
What is the minimum SIP amount?
The minimum SIP amount is ₹100.
Who manages the fund and what risk does it carry?
The fund is managed by Sagar Gandhi and Hiten Jain, and it carries a High Risk profile. The portfolio is led by PSU and related equity positions, which helps explain why the fund can move sharply at times.
Bottom line
Invesco India PSU Equity Fund Direct Growth Plan looks stronger over the longer horizon than in the immediate past, with 3-year and 5-year returns that stand well above the benchmark even as the latest stretch has been more subdued. The portfolio is concentrated in a meaningful set of PSU-linked holdings, so the theme can work in its favour when sentiment is supportive and cut both ways when it is not. For investors who can tolerate High Risk equity volatility and wait through cycles, the fund offers a focused way to participate in that style.
Published on 10 September 2026 at 11:37 AM IST
Explore mutual funds with Univest
Review mutual fund data, compare performance and explore fund insights on Univest.
RIA disclosure
Mutual fund investments are subject to market risks. Read all scheme-related documents carefully before investing. This review is prepared by Uniapps Investment Adviser Pvt. Ltd. (earlier known as Uniapps Global Research Pvt. Ltd.) under SEBI Registered Investment Adviser registration INA000017639 for general informational purposes and is not personalized investment advice.