ING Vysya Mutual Fund has launched ING Vysya Dividend Yield Fund. The fund would invest in the stocks that are known to consistently deliver a high dividend yield. Initially the fund would be available for subscription from September 9 to October 6, 2005.
Benchmarked against the BSE 100 Index, the fund will invest 65-100 per cent of its assets in high dividend yielding stocks, while up to 35 per cent of the assets will be invested in other equity stocks. The fund can also invest up to 25 per cent of its assets in money market instruments.
During the initial subscription period, no entry load will be charged. However, the fund would charge an exit load of 2.25 per cent for investments below Rs 1 crore, if redeemed within 180 days from the date of allotment. For investments of Rs 1 crore and above but below Rs 5 crore, an exit load of 1 per cent will be charged if redeemed within 90 days from the date of allotment. No exit load will be charged for investments of Rs 5 crore and above.