ING Vysya Mutual fund is launching another diversified equity fund: ING Vysya C.U.B. Fund, where C.U.B. stands for Competitive Upcoming Businesses. It will be a three year closed-end fund which will get converted into an open-ended fund at the end of third year. During the first three years, the fund will provide exit facility on a quarterly basis. It will be initially available for subscription from July 25 to August 21, 2006.
The scheme aims to invest in a diversified portfolio of equity and equity related securities of companies of small market capitalisation. The scheme would be benchmarked to the Nifty Junior Index. Small cap stocks will be defined as the ones which have market capitalisation falling within the range specified in the Nifty Junior Index.