The Hindu Business Line : ING Vysya launches CUB fund

ING Vysya Mutual Fund has introduced `ING Vysya CUB (Competitive Upcoming Businesses) Fund', a close-ended diversified equity scheme that will be automatically converted into an open-ended scheme at the end of the third year. The scheme closes on August 21.

The minimum initial investment is Rs 5,000 and additional investments can be made for a minimum of Rs 1,000.

There is no exit load and units can be redeemed once every quarter at the applicable NAV. After the scheme goes open ended, the entry load will be 2.25 per cent for all Systematic Investment Plans and Systematic Withdrawal Plans.

Birla Sun Life has made the following changes for its Systematic Investment Plan facility and load structure. The minimum amount per cheque has been reduced to Rs 500 from Rs 5,000 for Birla Equity Plan and Birla Sun Life Tax Relief '96 for the monthly systematic investment plan.

The minimum investment amount per cheque has been reduced from Rs 7,500 to Rs 500 each for Birla Equity Plan and Birla Sun Life Tax Relief. For other schemes, minimum investment would be four cheques of Rs 2,000 each.

The entry load for SIPs of less than or equal to Rs 10 lakh will be waived only if investments are not redeemed or switched within two years as against the earlier stipulation of one year.

You can withdraw a minimum of Rs 1,000 against Rs 500 earlier under the Systematic Withdrawal Plan. Under Monthly Systematic Transfer Plans, a minimum of eight transfers of Rs 1,000 each will be allowed against Rs 500 each for 12 transfers or Rs 1,000 each for 6 transfers.

Under the quarterly Systematic Transfer plan, a minimum of four transfers of Rs 2,000 each will be allowed as against four transfers of Rs 1,500 each.

The New Fund Offer Period of DSP Merrill Lynch Liquid Plus Fund has been extended to July 31.

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