Invesco · Equity Savings

Invesco India Equity Savings Fund

Hybrid Schemes - Equity Savings Fund Direct plan, growth benchmark: Nifty Equity Savings Index launched 14 Feb 2019 open-ended

At a glance

the fund as it stands today, from public disclosures

NAV, 21 Sep 2026

₹18.92

+0.09% since 18 Sep 2026, the previous NAV

1 year

−0.4%

return

3 years

8.8%

a year

5 years

7.6%

a year

Since launch

8.7%

a year, over 7.5 years

Assets (AUM)

₹268 Cr

Jul 2026 factsheet

Expense ratio, Direct / Regular

0.78% / 2.07%

a year, as of Jul 2026

Holdings

top ten are 98% of the fund · Aug 2026

Disclosed history

7.4 yrs

Mar 2019 – Aug 2026 · 5 of 11 checks could run

Fund managers

Amey Sathe · since at least Jul 2026Deepak Gupta · since at least Jul 2026Krishna Cheemalapati · since at least Jul 2026

All managers →

As the Jul 2026 factsheet printed it: standard deviation 1.8% · portfolio turnover 4.54×. Exit load and minimum investment are not yet extracted from the scheme documents.

What only Anveshan can tell you

measured from the disclosures, not quoted from a brochure — each links to how it was done

P5Cost, measured

Regular plan costs 1.77% a year more than Direct

₹34,614 on ₹1 lakh over ten years. Same portfolio, two prices — the difference is what the Regular plan's distribution costs you, read from the two NAVs.

See how it is measured →

P7Whose record

Run by Amey Sathe for at least 1 mo

with Deepak Gupta, Krishna Cheemalapati · the factsheet archive starts Jul 2026, so this is a floor. A return earned before they arrived is the house's record, not theirs — the tenure table shows the fund against its category over exactly their months.

Amey Sathe's other funds →

NAVTracking gap

Not replicated: the portfolio cannot be priced line by line in this build.

Each day, the NAV the fund published against the NAV its last disclosed portfolio would have produced at that day's prices. A gap that opens and stays is a change the fund has made and not disclosed yet.

See the daily gap →

P4Consistency

Beat its category in 33% of three-year stretches, and averaged −1.2 points a year across all of them

55 rolling windows since 2019 · ahead by 0.6 points a year when it won, behind by 2.0 when it lost. A single five-year figure depends on the day you look; the share of stretches won does not — and the average margin says whether winning often was worth anything.

See every window →

NAV and drawdown

Direct plan, growth class · as of 21 Sep 2026

Month-end NAV, indexed to 100 at Mar 2019

91 month-ends · ₹10.17 → ₹18.92, 1.9× since Mar 2019

Deepest fall (max drawdown)

−6.8%

29 Oct 2025 → 30 Mar 2026

Worst month

−3.9%

Mar 2026

Days to recover

126

from the deepest trough back to the old high

Drawdown is measured on the last year of daily NAV; trailing returns are CAGR of the direct growth class. A single end date decides them — the consistency card (P4) below is the record that does not, and it reports both how often the fund beat its category and by how much, because the first without the second can point the wrong way.

Holdings

Aug 2026 disclosure · 98 lines · when each was first held and the change over the last three disclosures

#	Holding	Sector	Weight	First held	Held for	3-mo change
1	TREPS / cash equivalents Net Receivables / (Payables) · cash equivalent	—	49.22%	Mar 2019	7.5 yrs	+4.86%
2	Axis Bank Limited equity	Banks	9.49%	Aug 2023	3.1 yrs	+1.22%
3	HDFC Bank Limited equity	Banks	7.15%	Feb 2023	3.6 yrs	+0.67%
4	Kotak Mahindra Bank Ltd equity	Banks	6.07%	Jan 2026	8 mo	+1.21%
5	United Spirits Limited equity	Beverages	5.62%	Mar 2019	7.5 yrs	+1.48%
6	Reliance Industries Limited equity	Petroleum Products	5.45%	Aug 2024	2.1 yrs	+0.58%
7	Invesco India Liquid Fund - Direct Plan - Growth mutual fund unit	—	4.51%	Dec 2020	5.8 yrs	+0.67%
8	6.94% Government of India 2036 government security	—	3.92%	Aug 2026	1 mo	+3.92%
9	ICICI Bank Limited equity	Banks	3.91%	Aug 2024	2.1 yrs	+1.37%
10	Infosys Limited equity	IT - Software	2.86%	Aug 2019	7.1 yrs	+0.32%
11	Invesco India Short Term Fund - Dr Growth mutual fund unit	—	2.39%	Oct 2023	2.9 yrs	+0.37%
12	Hindustan Unilever Limited equity	Diversified FMCG	2.37%	Oct 2024	1.9 yrs	+0.12%
13	Hyundai Motor India Ltd equity	Automobiles	1.97%	Oct 2025	11 mo	+0.49%
14	Invesco India Ultra Short to Short Term Fund-Dr Gr mutual fund unit	—	1.92%	Jun 2025	1.3 yrs	+0.29%
15	7.32% Government of India 2030 government security	—	1.84%	May 2024	2.3 yrs	+0.26%
16	8.60% Manappuram Finance Limited 2028 ** corporate bond	—	1.78%	Jul 2026	2 mo	+1.78%
17	6.79% Government of India 2034 government security	—	1.78%	Dec 2024	1.8 yrs	+0.26%
18	7.51% Tata Housing Development Company Limited 2028 ** corporate bond	—	1.76%	Mar 2026	6 mo	+0.25%
19	Ambuja Cements Limited equity	Cement & Cement Products	1.72%	Sep 2021	5.0 yrs	+0.49%
20	State Bank of India equity	Banks	1.70%	Mar 2026	6 mo	-0.38%
21	Maruti Suzuki India Limited equity	Automobiles	1.62%	Apr 2026	5 mo	+0.26%
22	Bharti Airtel Limited equity	Telecom - Services	1.60%	Aug 2025	1.1 yrs	-0.79%
23	Mrs. Bectors Food Specialities Ltd equity	Food Products	1.58%	Dec 2025	9 mo	+0.55%
24	The Federal Bank Limited equity	Banks	1.50%	Nov 2024	1.8 yrs	+0.88%
25	Triparty Repo money market	—	1.25%	Mar 2019	7.5 yrs	-1.52%
26	UltraTech Cement Limited equity	Cement & Cement Products	1.23%	Feb 2025	1.6 yrs	+0.17%
27	Honeywell Automation India Limited equity	Industrial Manufacturing	1.14%	Dec 2020	5.8 yrs	+0.15%
28	Poly Medicure Limited equity	Healthcare Equipment & Supplies	1.13%	Sep 2025	1.0 yrs	+0.38%
29	Tata Steel Limited equity	Ferrous Metals	1.12%	Jul 2025	1.2 yrs	+0.03%
30	Tube Investments Of India Limited equity	Auto Components	1.09%	Sep 2025	1.0 yrs	-0.66%
31	Shriram Finance Limited equity	Finance	1.05%	Jan 2025	1.7 yrs	+0.28%
32	Metro Brands Limited equity	Consumer Durables	0.87%	Jul 2023	3.2 yrs	+0.03%
33	Cholamandalam Investment and Finance Company Ltd CCD equity	Finance	0.85%	Oct 2023	2.9 yrs	+0.13%
34	Power Grid Corporation of India Limited equity	Power	0.82%	Sep 2023	3.0 yrs	-0.94%
35	Bansal Wire Industries Limited equity	Industrial Products	0.80%	Sep 2024	2.0 yrs	+0.10%
36	NTPC Limited equity	Power	0.79%	Aug 2025	1.1 yrs	-0.02%
37	Sun Pharmaceutical Industries Limited equity	Pharmaceuticals & Biotechnology	0.74%	Aug 2020	6.1 yrs	-0.06%
38	The Phoenix Mills Limited equity	Realty	0.71%	Jun 2026	3 mo	+0.71%
39	AU Small Finance Bank Limited equity	Banks	0.66%	Apr 2026	5 mo	+0.14%
40	Mahindra & Mahindra Limited equity	Automobiles	0.66%	Aug 2024	2.1 yrs	-0.66%
41	Entero Healthcare Solutions Ltd equity	Retailing	0.65%	Sep 2024	2.0 yrs	+0.02%
42	Indus Towers Limited equity	Telecom - Services	0.57%	Jan 2025	1.7 yrs	+0.01%
43	Supreme Industries Limited equity	Industrial Products	0.54%	Feb 2025	1.6 yrs	+0.08%
44	IndusInd Bank Limited ^^^ equity	Banks	0.53%	Jun 2023	3.3 yrs	+0.12%
45	HDFC Life Insurance Company Limited equity	Insurance	0.53%	Oct 2020	5.9 yrs	-0.08%
46	Bajaj Finance Ltd equity	Finance	0.42%	Jun 2025	1.3 yrs	-1.86%
47	Polycab India Limited equity	Industrial Products	0.38%	Jun 2026	3 mo	+0.38%
48	Orchid Pharma Limited equity	Pharmaceuticals & Biotechnology	0.37%	Mar 2024	2.5 yrs	+0.11%
49	8.30% Godrej Properties Limited 2027 ** corporate bond	—	0.36%	Jan 2025	1.7 yrs	-2.72%
50	SBI Life Insurance Company Limited equity	Insurance	0.33%	Sep 2021	5.0 yrs	+0.16%
51	Bank of Baroda equity	Banks	0.32%	Aug 2024	2.1 yrs	-0.09%
52	The Indian Hotels Company Limited equity	Leisure Services	0.32%	May 2026	4 mo	+0.08%
53	InterGlobe Aviation Limited equity	Transport Services	0.30%	Dec 2022	3.8 yrs	-1.06%
54	Larsen & Toubro Limited equity	Construction	0.25%	Jul 2024	2.2 yrs	+0.03%
55	Jio Financial Services Limited equity	Finance	0.18%	Apr 2026	5 mo	+0.02%
56	Apollo Hospitals Enterprise Limited equity	Healthcare Services	0.16%	Jan 2025	1.7 yrs	+0.03%
57	Tata Consumer Products Limited equity	Agricultural Food & other Products	0.15%	Aug 2026	1 mo	+0.15%
58	ICICI Lombard General Insurance Company Limited equity	Insurance	0.15%	Aug 2026	1 mo	+0.15%
59	Cipla Limited equity	Pharmaceuticals & Biotechnology	0.11%	Jul 2024	2.2 yrs	+0.03%
60	Dabur India Limited equity	Personal Products	0.07%	Dec 2025	9 mo	0.00%
61	Pidilite Industries Limited equity	Chemicals & Petrochemicals	0.06%	Aug 2025	1.1 yrs	+0.01%
62	Hindalco Industries Limited equity	Non - Ferrous Metals	0.05%	May 2026	4 mo	0.00%
63	ICICI Prudential Life Insurance Company Limited equity	Insurance	0.02%	Dec 2024	1.8 yrs	+0.01%
64	ICICI Prudential Life Insurance Company Limited September 2026 Future derivative	—	-0.02%	Aug 2026	1 mo	-0.02%
65	Hindalco Industries Limited September 2026 Future derivative	—	-0.05%	Aug 2026	1 mo	-0.05%
66	Pidilite Industries Limited September 2026 Future derivative	—	-0.06%	Aug 2026	1 mo	-0.06%
67	Dabur India Limited September 2026 Future derivative	—	-0.07%	Aug 2026	1 mo	-0.07%
68	Cipla Limited September 2026 Future derivative	—	-0.11%	Aug 2026	1 mo	-0.11%
69	Apollo Hospitals Enterprise Limited September 2026 Future derivative	—	-0.16%	Aug 2026	1 mo	-0.16%
70	Jio Financial Services Limited September 2026 Future derivative	—	-0.18%	Aug 2026	1 mo	-0.18%
71	SBI Life Insurance Company Limited September 2026 Future derivative	—	-0.19%	Aug 2026	1 mo	-0.19%
72	Larsen & Toubro Limited September 2026 Future derivative	—	-0.25%	Aug 2026	1 mo	-0.25%
73	The Indian Hotels Company Limited September 2026 Future derivative	—	-0.31%	Aug 2026	1 mo	-0.31%
74	Bank of Baroda September 2026 Future derivative	—	-0.32%	Aug 2026	1 mo	-0.32%
75	Polycab India Limited September 2026 Future derivative	—	-0.37%	Aug 2026	1 mo	-0.37%
76	Bajaj Finance Limited September 2026 Future derivative	—	-0.43%	Aug 2026	1 mo	-0.43%
77	IndusInd Bank Limited September 2026 Future derivative	—	-0.53%	Aug 2026	1 mo	-0.53%
78	HDFC Life Insurance Company Limited September 2026 Future derivative	—	-0.54%	Aug 2026	1 mo	-0.54%
79	Indus Towers Limited September 2026 Future derivative	—	-0.56%	Aug 2026	1 mo	-0.56%
80	AU Small Finance Bank Limited September 2026 Future derivative	—	-0.66%	Aug 2026	1 mo	-0.66%
81	Mahindra & Mahindra Limited September 2026 Future derivative	—	-0.67%	Aug 2026	1 mo	-0.67%
82	The Phoenix Mills Limited September 2026 Future derivative	—	-0.71%	Aug 2026	1 mo	-0.71%
83	Sun Pharmaceutical Industries Limited September 2026 Future derivative	—	-0.73%	Aug 2026	1 mo	-0.73%
84	NTPC Limited September 2026 Future derivative	—	-0.78%	Jul 2026	2 mo	-0.78%
85	ICICI Bank Limited September 2026 Future derivative	—	-0.80%	Aug 2026	1 mo	-0.80%
86	Power Grid Corporation of India Limited September 2026 Future derivative	—	-0.83%	Jul 2026	2 mo	-0.83%
87	Shriram Finance Limited September 2026 Future derivative	—	-1.02%	Aug 2026	1 mo	-1.02%
88	Tata Steel Limited September 2026 Future derivative	—	-1.12%	Aug 2026	1 mo	-1.12%
89	The Federal Bank Limited September 2026 Future derivative	—	-1.47%	Aug 2026	1 mo	-1.47%
90	Maruti Suzuki India Limited September 2026 Future derivative	—	-1.62%	Aug 2026	1 mo	-1.62%
91	Bharti Airtel Limited September 2026 Future derivative	—	-1.65%	Aug 2026	1 mo	-1.65%
92	State Bank of India September 2026 Future derivative	—	-1.69%	Aug 2026	1 mo	-1.69%
93	Ambuja Cements Limited September 2026 Future derivative	—	-1.74%	Aug 2026	1 mo	-1.74%
94	Kotak Mahindra Bank Limited September 2026 Future derivative	—	-3.11%	Aug 2026	1 mo	-3.11%
95	HDFC Bank Limited September 2026 Future derivative	—	-3.39%	Aug 2026	1 mo	-3.39%
96	Reliance Industries Limited September 2026 Future derivative	—	-4.39%	Aug 2026	1 mo	-4.39%
97	United Spirits Limited September 2026 Future derivative	—	-5.65%	Aug 2026	1 mo	-5.65%
98	Axis Bank Limited September 2026 Future derivative	—	-9.28%	Aug 2026	1 mo	-9.28%

Showing 1–98 of 98 rows per page10 25 50all

Largest sectors, Aug 2026 · grey: a year ago

Banks31.3% · 14.4%

Beverages5.6% · 3.4%

Petroleum Products5.5% · 3.5%

Automobiles4.3% · 2.4%

Cement & Cement Products2.9% · 2.8%

IT - Software2.9% · 4.9%

Finance2.5% · 3.7%

Diversified FMCG2.4% · 2.8%

share of the book05%10%15%20%25%30%35%

By market cap, Aug 2026

Large cap61.1%

Mid cap8.5%

Small / micro cap4.3%

Cash & equivalents50.5%

Not classified0.9%

share of the book025%50%75%100%

"Not classified" is what no cap tier could be inferred for — newly listed names, or lines without an ISIN.

Composition by market cap, month by month — what the fund actually held against what its label says

Large cap 61%
Mid cap 8%
Small / micro 4%
Cash & other 50%

The seven checks, in full

each: the plain claim, where it sits in the category, and — folded — how it is measured and the case against. A flag fires only where headline and record disagree.

P4 Consistency, not a single end date

Beat its category in 33% of three-year stretches, and averaged −1.2 points a year across all of them

55 rolling windows since 2019 · ahead by 0.6 points a year when it won, behind by 2.0 when it lost

What this means. Take every three-year stretch since the fund had a NAV, one starting each month, and ask two things of each: did it beat the typical fund in its category, and by how much. Counting the wins tells you the record does not depend on when you happen to look; averaging the margin tells you whether winning often was worth anything, because four small wins do not pay for one large loss.

How often, and by how much. The count and the average agree. Ahead by 0.6 points a year in the 18 windows it won and behind by 2.0 in the 37 it lost, so the average across all 55 is −1.2 points. The worst window ended Apr 2023, 3.9 points behind.

No category distribution for this measure yet.

windows measured55windows won18average across every window−1.15 pts a year · median −1.00when ahead, by how much+0.57 pts a year over 18 windowswhen behind, by how much−1.99 pts a year over 37 windowsworst window−3.91 pts a year, ended Apr 2023best window+1.08 pts a year, ended Jul 2025non-overlapping windows in that span2 — the rolling count overlaps, this does not

Fund minus category, each rolling three-year window

ahead of categorybehind

Each bar is one window's margin in percentage points a year. The height of the bars, not the count of green ones, is what the average across every window measures.

How it is measured, and the case against

A fund that beats its category in most rolling three-year windows has a record; one that beats it in a few has an end date. How often it won and by how much are different questions, and this card answers both, because a fund can win four windows in five and still be behind across all five.

How often has it beaten its category, across every window?

Why this might matterRolling every three-year window forward month by month gives hundreds of overlapping observations instead of one. A single end date decides a headline five-year figure; the share of windows won cannot be flattered by when you happen to look. The average margin across every window is that share and the payoff multiplied together — win share x average beat plus loss share x average shortfall is exactly the average — so a high share bought with a few ruinous windows cannot hide behind the count.

Why it might notRolling windows overlap heavily, so they are not independent observations and the true sample is far smaller than the count suggests — the card says how many non-overlapping windows the same span holds, and it is usually a handful. A fund that changed manager or mandate carries a record that is only partly its own. The average margin is only as meaningful as the category: where a category is a grab bag (“Other ETFs” holds gold beside equity), a large shortfall says the comparison is wrong, not that the fund is. And none of this forecasts: our own study found the share of windows won does not predict the next three years, and weighting it by payoff gives no reason to think otherwise.

P5 Cost, measured

Regular plan costs 1.77% a year more than Direct

₹34,614 on ₹1 lakh over ten years

What this means. The Regular and Direct plans hold the same portfolio; the Regular one pays a distributor out of your money every day. The gap between the two NAVs is that cost, measured from the NAVs rather than quoted from a document.

1.77 pp a year

costliest in categorycheapest in category

14th percentile · bottom quartile of 8 funds · category median 1.27 pp

on ₹1,00,000 over ten years₹34,614Direct vs Regular, annualised8.6% vs 6.8%measured over7.5 years

How it is measured, and the case against

The Direct plan is the same portfolio, priced differently; the divergence of the two NAVs is the cost, measured rather than quoted.

What does the Regular plan actually cost against its Direct twin?

Why this might matterSame manager, same holdings, same day. The gap between the two NAV series is the one number on this page that is knowable today rather than hoped for, and it compounds for as long as the units are held.

Why it might notA Regular plan buys advice. If that advice stops someone selling in a drawdown it can be worth more than the fee — the cost is visible and the behavioural saving is not, which makes this comparison unfair in exactly one direction.

P1 Churn, and what it bought

Turns over 63% of the portfolio a year

−0.08 pts of excess return per unit of turnover

What this means. How much of the portfolio was bought and sold in a year, computed from what the fund disclosed each month. Trading costs something certain; the extra return it is meant to buy is not.

63% a year

costliest in categorycheapest in category

37th percentile · below median of 8 funds · category median 51%

excess return per unit of turnover−0.08 pts

How it is measured, and the case against

Turnover measured from consecutive disclosures — Σ|Δweight|/2 — costs something certain; the excess return it is meant to buy is not.

Is the trading paying for itself?

Why this might matterAMCs define their own turnover figure inconsistently. This one is computed from what the fund disclosed month to month, so two funds are comparable on it. Read it beside the excess return per unit of turnover.

Why it might notTurnover computed from month-end snapshots misses everything bought and sold inside a month, and a fund forced to sell by redemptions is charged for churn it did not choose.

P2 Conviction or inertia

Typical top-10 holding kept 31 months

What this means. How long a typical top-10 position has been in the top ten. Long-held positions are a decision; a top ten that changes every quarter is a reaction.

31 months

lowest in categoryhighest in category

28th percentile · below median of 8 funds · category median 51 months

active sharenot yet computable — needs index constituent files

How it is measured, and the case against

The median months a top-10 position has been held separates a portfolio somebody chose from one that drifted.

How long does a top-10 position stay a top-10 position?

Why this might matterConcentration is how a manager expresses conviction, and persistence is how long they keep it. Long-held positions with a rising weight are a decision; a top ten that turns over every quarter is a reaction.

Why it might notPersistence without active share is inertia: a portfolio of 166 names that tracks its category closely has diversified away the reason to pay for it. Active share needs index constituent files, which are not loaded yet.

P3 Hit rate of the top ten

5 of 10 top picks beat their peers over the next 6 months, and averaged 1.5 points ahead of them

818 positions judged, one disclosure at a time · ahead by 14.9 points when it won, behind by 12.1 when it lost

What this means. Take each month's ten largest holdings and check whether each one beat the typical stock its category holds over the next six months, and by how much. A blended return can hide two wins and eight losses; a count of wins can hide one position that lost half its value.

How often, and by how much. The count and the average agree. Ahead by 14.9 points in the 411 positions it won and behind by 12.1 in the 407 it lost, so the average across all 818 is +1.5 points. The worst position was INE397D01024 at the May 2020 disclosure, 43.0 points behind.

50%

lowest in categoryhighest in category

49th percentile · below median of 8 funds

positions judged818beat the median stock411average across every position+1.54 pts · median +0.08when ahead, by how much+14.91 pts over 411 positionswhen behind, by how much−12.11 pts over 407 positionsworst position−43.02 pts, INE397D01024 at the May 2020 disclosurebest position+135.88 pts, INE066F01012 at the Apr 2023 disclosure

How it is measured, and the case against

A manager's largest bets, judged one by one over the following six months, say more than the fund's blended return — and how far each one beat or missed the median stock says more than counting how many did.

Of its top-10 positions, how often did they beat the category-median stock?

Why this might matterA fund can beat its category on two positions and lose on eight; the hit rate shows the pattern the aggregate hides. The average margin then shows what the hit rate hides in turn: six winners worth a point each do not pay for four losers worth ten, and only the margin says which happened.

Why it might notSix months is short, sizing matters more than counting, and a manager who is right on the biggest position and wrong on nine small ones has done their job — the margins here are unweighted, so they answer the counting question better, not the sizing one. Overlapping disclosures judge the same position again each month it is held, so one long-held winner is counted many times. And this is a description of six months already past, not a forecast of the next six.

P6 Size against edge

₹268 Cr, 21st percentile in category; 72% of growth came from inflows

smaller than 79% of the funds in its category (7 funds) · AUM Sep 2023 → Jul 2026 · Regular plan expense ratio 2.97%

What this means. Where the fund sits by size in its category, and how much of its growth was money arriving rather than the portfolio compounding. A very large fund cannot buy what a small one can; size should buy a lower fee in return.

21th percentile by AUM

largestsmallest

79th percentile · top quartile of 7 funds

median holding weight, trendrisingexpense ratio, Regular / Direct2.97% / 1.52% · category median 2.75%AUM, Sep 2023 → Jul 2026₹133 Cr → ₹268 Cr (+28% a year)of that change, from flows rather than returns72% net inflows · NAV +29% over the window

Assets under management, ₹ crore, Mar 2019 – Jul 2026

31 points · months without a factsheet figure use AMFI's quarterly average · Regular-plan expense ratio 2.81% in Mar 2019 → 2.97% in Sep 2026

How it is measured, and the case against

Past a certain size the smaller end of a mandate becomes unreachable, and the fund starts to look like its index; what size should buy in return is a lower expense ratio.

Has the fund outgrown the universe it invests in — and did size buy a lower fee?

Why this might matterSize narrows what the manager can meaningfully hold and should lower what the investor pays. Read the AUM history beside the expense ratio: a fund that has tripled through inflows while its Regular-plan TER sits above the category median has kept the benefit of scale for the house. The flow decomposition says how much of the growth was money arriving rather than the portfolio compounding.

Why it might notScale funds research teams, and plenty of large funds have gone on compounding for decades. Inflows follow performance, so a fund growing fast is usually one that did well; the constraint is real but not automatically binding, and a TER is a ceiling the AMC can cut at any time.

P7 Whose record is this

Run by Amey Sathe for at least 1 mo

with Deepak Gupta, Krishna Cheemalapati · the factsheet archive starts Jul 2026, so this is a floor

What this means. How long the people running it now have been running it, read from the monthly factsheets. A five-year record earned under someone else is not evidence about these managers.

No category distribution for this measure yet.

running it nowAmey Sathe (since at least Jul 2026), Deepak Gupta (since at least Jul 2026), Krishna Cheemalapati (since at least Jul 2026)share of the fund's life under the current teamnot knowable — the archive starts Jul 2026, so the tenure is a floorchanges of hands in the archivenone

Who ran it, month by month · factsheets through Sep 2026

running it nowearlier

Manager	Role	From	To	Fund vs category, those months	3-yr stretches won in tenure
Amey Sathe	fund manager	by Jul 2026†	now	1.4% vs 1.1% (+0.25 pp)	—
Deepak Gupta	fund manager	by Jul 2026†	now	1.4% vs 1.1% (+0.25 pp)	—
Krishna Cheemalapati	fund manager	by Jul 2026†	now	1.4% vs 1.1% (+0.25 pp)	—

* dated by first appearance in the archive we hold, not by a date the factsheet printed. † already named on the first factsheet we hold: the stint is at least this long, and its start is not known. Co-managed months count for every manager named; a factsheet names the manager of record, not who made each call. All managers →

How it is measured, and the case against

A record earned under different people is not evidence about these ones.

Does the displayed record predate the people running it?

Why this might matterA five-year figure on a fund whose longest-serving manager joined two years ago is the house's record more than the person's. The tenure here comes from what each monthly factsheet named, so a change of hands is dated to the month it was disclosed, and the fund's return against its category can be read over exactly those months.

Why it might notFund houses have processes, research desks and mandates that outlast individuals, so a manager change is not a reset. Co-managed funds attribute the same months to every named manager, and a factsheet names the manager of record, not necessarily the person making the calls. And the archive we hold starts in Jul 2026: Amey Sathe was already named on its first sheet, so the tenure here is the floor of what is known, not the month anyone arrived — the record may well belong to the people running it now.

Tracking gap

the NAV the fund published, against the NAV its last disclosed portfolio would have produced at each day's prices

No signal. About 25% of this fund is outside listed Indian equity — a foreign or derivative sleeve, or debt — and there are no daily prices to replicate it with. A wrong signal would be worse than none.

Share classes

latest NAV per AMFI code

Plan	Option	NAV	Date
direct Invesco India Equity Savings Fund - Direct Plan - Growth	growth	₹18.92	21 Sep 2026
direct Invesco India Equity Savings Fund - Direct Plan - IDCW (Payout / Reinvestment)	idcw	₹18.86	21 Sep 2026
regular Invesco India Equity Savings Fund - Regular Plan - Growth	growth	₹16.70	21 Sep 2026
regular Invesco India Equity Savings Fund - Regular Plan - IDCW (Payout / Reinvestment)	idcw	₹16.70	21 Sep 2026

The Direct / Regular gap, in rupees

Direct growth NAV: ₹18.92
Regular growth NAV: ₹16.70
NAV divergence to date: 13.3% — same portfolio, priced differently
Regular costs more by: 1.77% a year
On ₹1,00,000 over ten years: ₹34,614

A Regular plan buys advice. The fee is visible and the behavioural saving is not; both are shown, neither is netted off.

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