ING MF launches ING Long Term FMP- 1

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Name of Fund: ING Long Term FMP- 1

Scheme: ING Long Term FMP- 1 is a close-ended bond scheme offering an investment plan of 393 days maturity. The scheme shall mature on 7 April 2009.

Objective: The scheme will be investing in a portfolio of government securities or highly rated corporate bonds maturing close to the maturity of the scheme so as to generate returns comparable with alternative fixed-income instruments of similar maturity. The scheme will invest in debt securities with maturity coinciding closely with the maturity of the scheme, so as to minimise the impact of price fluctuation of such securities on the value of the security at maturity.

Fund Opens: 5 March 2008

Fund closes: 10 March 2008

Face Value: Rs 10 per unit

Investment Options: The scheme provides two plans i.e. retail and institutional plan with a sub-option of growth and dividend option.

Asset allocation: The scheme shall invest up to 100% in debt securities and money market instruments including call money and reverse repo. The debt securities may include securitised debt up to 100% of the net assets. The investments in derivatives instruments shall be to a maximum of 50% of the net assets of the scheme.

Entry load: The scheme does not charge an entry load as it is of close-ended nature.

To provide liquidity to investors, the fund proposes to provide repurchase facility in the scheme on monthly basis. The investors can submit their repurchase requests at any official points of acceptance of transactions on any date after the allotment.

If repurchase request is submitted after the date of allotment and on or before 11 March to 8 June 2008 the applicable Contingent Deferred Sales Charge (CDSC) will be 4.00%. CDSC will be reduced to 3.00% if repurchase request is submitted from 8 June 2008 to 6 September 2008. If repurchase request is submitted after 6 September 2008 and on or before 5 December 2008, the applicable CDSC will come down to 2.00%. If repurchase request is submitted after 5 December 2008 and on or before 6 April 2009 the applicable CDSC will be further come down to 1.00%.

If repurchase request is submitted after 6 April 2009 and on 7 April 2009 (maturity) there will be no CDSC.

Minimum Investment Amount: The minimum investment amount under retail plan is Rs 5,000 and in multiple of Re 1 thereafter. Under institutional plan, the minimum investment amount is Rs 1 crore in multiple of Re 1 thereafter.

Minimum subscription amount: Rs 1 lakh

Benchmark index: CRISIL Liquid Fund Index

Fund Manager: Mr. Prashant Singh

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