Even as an increasing number of Asian and emerging market funds announce plans to liquidate, merge or change their mandates because of poor returns, INVESCO is starting a new international fund, the International Blue Chip fund.
The Denver-based mutual fund firm has hired Charles Schwab & Co. to solicit investors for its new fund. The offering runs through Oct. 28. Until then, the fund is only available through Schwab. INVESCO hopes to raise more than $30 million for the International and one other fund which it is registering. But this goal is subject to change in light of the current volatile markets. This effort marks the first time that Schwab and INVESCO have worked together on a subscription offering.