ING Vysya Mutual Fund has launched a diversified equity fund. Named as ING Vysya A.T.M. (Against The Market) Fund, it will be initially available for subscription from January 27 to February 20, 2006.
Basically, it is a contrarian fund which will invest in the stocks of companies that are fundamentally sound but are under-valued. The fund will be benchmarked against BSE 100 index. As per the fund's stated asset allocation, it will invest 75-100 per cent of its assets in equities, while it can also invest up to 25 per cent of its assets in cash and money market instruments.
During the new fund offer period, the fund will not charge any entry load. For investments below Rs 1 crore, there will be an exit load of 2.25 per cent, if redeemed within 180 days from the date of allotment. For investments of Rs 1 crore or above but less than Rs 5 crore, an exit load of 1 per cent will be charged upon redemption within 90 days from the date of allotment. For investments of Rs 5 crore and above, there will not be any exit load.
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