ING MF files an offer document- ING Fixed Maturity Fund Series 47-50
26 Apr 2008 | 12:39 ING MF files an offer document
Name of Fund: ING Fixed Maturity Fund Series 47-50
Scheme: It is a close-ended bond scheme.
Objective: A close-ended scheme 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 and the value at maturity. However, there can be no assurance that the investment objective of the scheme will be achieved.
Plans: The scheme will have retail plan and institutional plan with a common portfolio.
Investment option: The investors will have the choice of two options viz. Dividend Option and Growth Option
Dividend Option
ING Fixed Maturity Fund Series 47 and 48:
Under this option the dividend will be declared on a quarterly basis or at such frequencies as may be decided by Trustees, to Unitholders whose names appear in the Register of Unitholders on the record date. The AMC/Trustees shall decide on the record date for quarterly dividend option as they deem fit.
ING Fixed Maturity Fund - Series 49 and 50:
Under this option the trustees may declare dividends at such frequencies as may be decided by them, to unitholders whose names appear in the register of unitholders on the record date.
Growth Option
The income earned by the scheme will normally remain invested in the scheme and will be reflected in the NAV. This option is attractive to those investors aiming for capital appreciation.
Asset Allocation: The fund will invest 100% in debt securities and money market instruments including reverse repo. Debt securities may include securitised debt up to 100% of the net assets. Investments in derivatives instruments shall be to a maximum of 50% of the net assets of the scheme.
Face Value: Rs 10
Entry Load: It will not charge an entry load.
Exit Load: To provide liquidity to investors, the Fund proposes to provide repurchase facility in the scheme on 90th, 180th, 270th, 365th day from the date of allotment. The investors can submit their repurchase requests at any official points of acceptance of transactions on any date after the allotment. The repurchase requests, subject to being complete in all respects and received on or before business hours of the stipulated repurchase dates will be deemed to have been received for the stipulated repurchase dates. All such valid repurchase requests will be processed for redemption at the applicable NAV on the scheduled repurchase dates, subject to payment of the applicable Contingent Deferred Sales Charge (CDSC) as given below:
| ING Fixed Maturity Fund Series 47 and 48: | ||
| Units repurchased / redeemed | Applicable NAV | Applicable |
| If repurchase request is submitted after the date of allotment and on or before the 90th day from the date of allotment | NAV as on 90th day | 3% |
| If repurchase request is submitted after the 90th day and on or before the 180th day from the date of allotment | NAV as on 180th day | 2% |
| If repurchase request is submitted after the 180th day and on or before the 270th day from the date of allotment | NAV as on 270th day | 1% |
| If repurchase request is submitted after the 270th day and on or before the 365th day from the date of allotment | NAV as on 365th day | 0.75% |
| On 366th day (date of maturity) | NAV as on 366th day | Nil |
| ING Fixed Maturity Fund Series 49: | ||
| Units repurchased / redeemed | Applicable NAV | Applicable |
| If repurchase request is submitted after the date of allotment and on or before the 30th day from the date of allotment | NAV as on 30th day | 1% |
| If repurchase request is submitted after the 30th day and on or before the 60th day from the date of allotment | NAV as on 60th day | 1% |
| If repurchase request is submitted after the 60th day and on or before the 90th day from the date of allotment | NAV as on 90th day | 1% |
| On 91st day (date of maturity) | NAV as on 91st day | Nil |
| ING Fixed Maturity Fund Series 50: | ||
| Units repurchased / redeemed | Applicable NAV | Applicable |
| If repurchase request is submitted after the date of allotment and on or before the 30th day from the date of allotment | NAV as on 30th day | 1% |
| If repurchase request is submitted after the 30th day and on or before the 60th day from the date of allotment | NAV as on 60th day | 1% |
| If repurchase request is submitted after the 60th day and on or before the 91st day from the date of allotment | NAV as on 91st day | 1% |
| On 92nd day (date of maturity) | NAV as on 92nd day | Nil |
Minimum Investment Amount: Minimum investment under retail plan is Rs 5,000 and in multiples of Re 1 thereafter. Under institutional plan, the minimum investment amount is Rs 5 lakh in multiples of Re 1 thereafter.
Target Amount: During the New fund offer period, the Fund seeks to collect Rs. 1 lakh as the minimum subscription and will retain any excess subscription collected.
Benchmark Index: Crisil Liquid Fund Index
Fund Manager: Mr. Prashant Singh
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