Business Daily from THE HINDU group of publications
Friday, Jun 20, 2008
ePaper | Mobile/PDA Version | Audio
Business Daily from THE HINDU group of publications Friday, Jun 20, 2008 ePaper | Mobile/PDA Version | Audio |
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Markets
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New Fund Offer Our Bureau Mumbai, June 18 ING Investment Management India on Wednesday announced the launch of its Latin America Equity Fund, an open ended fund-of-funds scheme for Indian investors. The scheme will open on June 19 and will close on July 10. The issue will comprise units of Rs 10 per unit plus applicable entry load during the new fund offer and at applicable NAV based prices plus applicable entry load upon re-opening. The minimum application amount is Rs 5,000 and in multiples of Rs 1 thereafter. The minimum additional purchases could be of value Rs 1,000 and in multiples of Rs 1 thereafter. The investors will have the choice of three options: dividend, bonus and growth. The scheme will mainly invest in ING’s existing Luxembourg-based fund, thereby seeking to provide the Indian investors the long-term capital appreciation and exposure to countries, which are amongst the fastest growing economies.
“The emerging markets as a whole have held up fairly well, considering that they are generally volatile than the US indices. All emerging countries have some political risk associated with them, some much higher than others. However, what makes Latin America so attractive is the stable Government in place in the recent years and their pro-growth policies. This is one part of the backdrop that isn’t always visible to investors, but it plays an important role in medium & long-term stability,” said Mr Vineet K. Vohra, Managing Director and CEO, ING Investment Management India. More Stories on : New Fund Offer
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