ING Global Real Estate Fund
By Research Desk | Dec 6, 2007
ING Investment Management has launched a global real estate fund- ING Global Real Estate Fund. It is an open-ended feeder fund that will predominantly invest (at least 65 per cent of its assets) in the ING Global Real Estate Securities Fund. The scheme may also invest in the units of other similar overseas mutual fund schemes.
Real Estate Investment Trusts (REITs) and Real Estate Operating Companies (REOCs) will be the two main securities that the fund will invest in. This makes it the first fund to be truly focused upon the real estate sector as well as diversified across geographies.
ING Real Estate is one of the largest real estate investment managers in the world with US$68 billion in assets as of 31 December 2004.
Issue Opens: November 20, 2007
Issue Closes: December 14, 2007
Fund Category: Open-End, fund of funds Scheme
Benchmark Index: Citigroup World Property Index
Minimum Investment: Rs 5,000
Entry Load: 2.75 per cent for investment less than Rs 2 crore
Exit Load: An exit load of 1.5 per cent would be charged upon redemption within 12 months from the date of allotment
About the Fund Manager
Ms. Jasmina Parekh is the designated fund manager for the scheme. Prior to joining ING Investment Management Pvt. Ltd in May, 2006 her last assignment was with ASK Raymonds James as a Senior Manager (Equity Sales). Parekh has a total experience of 8 years and has worked with companies like Buildwell Plant and Equipment, Hermes Securities (BRICS), Quantum Information Services and KR Choksey Shares and Securities.
Performance History: ING Mutual Fund
ING AMC started its operation in the year 1999. Currently they are managing assets worth Rs 9,763 crore out of which Rs 822 crore is contributed towards equity.
Historically, the fund house's equity funds have lacked strong performance records. However, there have been noticeable improvements of late. Particularly noteworthy are ING Domestic Opportunities which is currently rated four-star and ING C.U.B. which has delivered exceptional returns of over 73 per cent in the last one year.
ING Global Real Estate Fund is the first Real Estate investment avenue for individual investors. Its key plus point is diversification in a completely unrelated asset class besides the parent company's good performance track record with its existing fund. However, return from investment in the fund with be treated like a fixed income fund. The appreciating rupee may also lower the fund's return.