Optimix has come out with its fourth fund: Optimix Dynamic Multi Manager FoF Scheme. The scheme would be open from August 30, 2006 to September 28, 2006. It will be a close ended scheme for a period of three years from the date of allotment.
The scheme aims to generate capital appreciation primarily from a portfolio of equity and debt funds accessed through the diversified investment styles of OptiMix Multi Manager investment process. The scheme will allocate investments dynamically between equity and debt/liquid/money market funds. It will only invest in third party mutual funds, and will not make any investments in schemes of the ING Vysya Mutual Fund. It would benchmark its performance against CRISIL Balanced Fund Index.
The minimum subscription amount in the scheme is Rs 5,000. To provide liquidity to investors, it proposes to provide repurchase facility on 1st and 16th day of every month. The total expenses of the scheme including management fees shall not exceed 0.75 per cent of the daily average net assets. These expenses are over and above the expenses charged by the respective underlying schemes.