The Hindu Business Line : Update

OptiMix, the multi-manager division of ING Investment Management India, has launched a new fund of funds, OptiMix Equity Multi Manager. It is a closed-end scheme with a maturity of three years from the date of allotment. It will create a portfolio of equity funds accessed through the diversified investment styles of underlying schemes selected in accordance with the OptiMix Multi Manager Investment process.

The scheme will invest 65-100 per cent in equity funds, up to 35 per cent in debt funds, liquid funds and money market funds, and up to 10 per cent in money market securities. The offer closes on November 20.

ABN Amro Mutual has launched ABN AMRO Multi Manager Fund Series 3. It is a closed-ended fund of fund scheme with a maturity of three years from the date of allotment. The FoF will invest in a portfolio of equity funds and liquid/short term/floating rate funds. The offer closes on November 28. The minimum subscription amount is Rs 5,000. The scheme will provide for liquidity on the first Monday of every month.

SBI Mutual has launched SBI Debt Fund Series, a 13-month close-ended debt fund. The fund will invest in a portfolio of rated debt instruments, Government securities and money market instruments. The minimum investment amount is Rs 50,000. An exit load of 0.75 per cent will be charged for withdrawals before the maturity date.

JM Mutual has launched JM Financial Services Sector Fund and JM Telecom Sector Fund. The funds will invest predominantly in the banking/financial institution/NBFC and housing finance sector and the telecom sector respectively.

The offer will close on November 20. The minimum subscription amount is Rs 5,000 and dividend and growth options are on offer.

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