Financial Daily from THE HINDU group of publications
Saturday, Aug 14, 2004
Financial Daily from THE HINDU group of publications Saturday, Aug 14, 2004 |
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Markets
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Mutual Funds ING Vysya plans to launch Medium Term Income Fund Our Bureau
Mumbai , Aug. 13 ING Vysya Investment Management (India) is launching the ING Vysya Medium Term Income fund, according to the offer document filed with Securities and Exchange Board of India. "The primary objective of the scheme is to generate income by investing in fixed income securities of medium term maturity and money market instruments of varying maturity dates with a view to maximise income while maintaining the optimum balance of yield, safety and liquidity," says the offer document of the fund. The asset allocation of the fund would be 70-100 per cent in debt instruments and 0-30 per cent in cash and money market instruments. The performance of the fund would be benchmarked against the Crisil Composite Bond Fund Index, according to the offer document. The fund is available in growth and dividend options. The scheme targets Rs 10 lakh to be raised during the initial public offerings, which open on September 20, according to the document.
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