ING Savings Trust Mutual Fund has introduced a Short-term Plan under the ING Income Portfolio Scheme. It was initially open for subscription from August 12 to August 16, 2002. The fund will reopen for ongoing sale and repurchase from August 22, 2002 onwards.
The fund offers growth and dividend options. The minimum application amount is Rs 2000 and in multiples of Rs 1000 thereafter. Entry in the fund is on a no-load basis. However, the fund will charge an exit load of 0.5% for investment upto and including Rs 50 lakhs, if redeemed within 3 months. And for investment above Rs 50 lakh, an exit load of 0.25% would e charged if redeemed within 7 days.
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