OptiMix, the multi-manager division of ING Investment Management (India) Private Limited has announced the launch of its maiden multi-manager product-"OptiMix Income Growth Multi-Manager Fund of Funds Scheme (OIG FoF)".
The scheme will primarily invest in a portfolio of debt, liquid, money market and equity funds.
The product has two plans:
15% Equity Plan: Here, 85 per cent of the assets will be invested in debt, liquid, money market funds and money market securities and the balance of about 15 per cent in equity funds. The maximum exposure of this plan to equities is 20 per cent.
30% Equity Plan: Here, approximately 70 per cent of the net assets will be invested in debt, liquid, money market funds and money market securities and the balance of about 30 per cent in equity funds. The maximum exposure of this plan to equities is 35 per cent.
The new fund offer commences on March 9 and closes on April 7, 2006. The entry load during the new fund offer as well as on-going sales for both the plans would be: 1 per cent per application less than Rs 5 crore and nil for applications of Rs 5 crore and above. No exit load will be charged. The minimum investment in the fund is Rs 5,000.
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