Financial Daily from THE HINDU group of publications
Friday, Apr 02, 2004
Financial Daily from THE HINDU group of publications Friday, Apr 02, 2004 |
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Markets
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Mutual Funds ING Vysya to launch WTO theme fund Our Bureau
Mumbai , April 1 ING Vysya Mutual Fund is seeking to launch a fund that would invest in companies that benefit from the World Trade Organisation's mandated changes in the business environment and increasing business opportunities in the generic pharmaceutical industries. This was stated in the draft offer document published by the Securities and Exchanges Board of India (SEBI), on Wednesday. The primary investment objective of the scheme is to seek capital appreciation from a portfolio that is primarily invested in companies which will benefit from increased global trade due to breaking down of trade barriers in 2005 and the opening up of an over $50 billion pharmaceutical market worldwide for generic companies, on expiry of product patents, states the draft offer. The scheme will be open for subscription in its initial offer period from April 19 to May 7 and a minimum application amount of Rs 2,000 has been specified. Units are available at Rs 10 per unit during this period, it said.
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