ING Vysya Mutual Fund has introduced an Institutional Plan under its ultra short-term debt scheme - ING Vysya Liquid. The initial offer will be open for one day on June 8, 2004.
The Institutional Plan offers three investment options - dividend option (weekly and daily), dividend reinvestment option and growth option. The minimum amount required to invest in the fund is Rs 5 crore.
The annual recurring expenses chargeable under the plan have been capped at 0.5 per cent of per annum average net assets. Both the retail fund (the existing ING Vysya Liquid scheme) and the institutional fund will maintain a common portfolio.