ING Vysya mutual fund has launched a medium term income fund. The scheme will be open for subscription from September 20 to October 15 with an earliest closing date of October 8. The scheme will be available under two options – growth and dividend. The minimum subscription amount in the scheme would be Rs 2,000.
There will be no entry load on investments in the scheme. However, in case investments are redeemed within one year there will be a contingent deferred sales charge of 1 per cent.
The scheme will invest at least 70 per cent of its net assets in medium to high-risk debt instruments while the remaining amount of the corpus will be invested in call and money market instruments. The performance of the scheme will be benchmarked against the Crisil Composite Bond Fund Index.