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Scheme seeks to generate returns by investing in debt, liquid, money market and equity funds.

Mumbai , March 8

Investors who have been spoilt for choice about which mutual fund scheme to invest in can now have the option of handing their money over to a multi-manager. OptiMix, a division of ING Investment Management, has launched a multi-manager fund of funds that would invest in debt and equity schemes of other fund houses.

The OptiMix Income Growth Multi-Manager Fund of Funds scheme seeks to generate returns by investing in debt funds, liquid funds, money market funds and equity funds. The product offers two plans, one that would invest up to 15 per cent in equity and the rest in debt funds and another that would invest 30 per cent in equity funds and the remaining in debt funds.

The fund house is working with a long list of 10 asset management companies. Money invested in the fund would be further invested in mutual fund schemes of these 10 AMCs, said Mr Mugunthan Siva, Chief Investment Officer, OptiMix.

The company is positioned between asset management companies and distributors, and seeks to offer core propositions for investors for the long term, said Mr Ashvin Arora, its Director, speaking at the launch of the maiden fund.

It is awaiting regulatory approval on its `Manage the Manager' scheme and would be launching the Multi-Manager PMS scheme within the next two months, he added.

The schemes would be distributed by third party distributors as well as banks, said Mr Sumeet Vaid, Chief Marketing Officer, OptiMix.

The new fund offer of the scheme is open till April 7. The fund charges an entry load of one per cent for investments below Rs 5 crore.

More Stories on : New Fund Offer | Mutual Funds

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