ING Vysya Mutual launches two funds
By Venkatachari Jagannathan | 14 Jan 2004
Chennai: The ING Vysya Mutual Fund has launched two new funds ING Vysya Nifty Plus Fund and ING Vysya MIP Fund. The offer closes on February 6, 2004 at a price of Rs.10 per unit. According to the company the first net asset value (NAV) will be declared on February 24,2004 after which the investors can purchase or redeem the units.
The ING Vysya Nifty Plus Fund is an open-ended equity scheme, which invests only in companies that are part of the S&P CNX Nifty Index. The fund will invest around 70 per cent of the corpus in S&P CNX Nifty Index itself and the remaining will be invested in Nifty stocks.
The ING Vysya MIP Fund offers two options viz. Plan 'A' invests only in debt market securities and Plan 'B' invests at least 80 per cent in debt and up to 20 per cent is invested in equities, primarily through the ING Vysya Nifty Plus Fund.
The
MIP scheme investors also get additional benefits like
having a savings bank account with ING Vysya Bank at no
minimum balance, a free ATM cum debit card, drawing of
demand drafts upto Rs.2 lakh free of charge, accident
insurance for Rs.3 lakh for three years.