The Hindu Business Line : Fund Update

The scheme seeks to invest predominantly in ING Global Real Estate Securities Fund and also in other similar overseas mutual fund schemes. The fund can also invest a certain portion of its corpus in money markets securities.

Asset allocation: Under normal condition the fund will invest 65-100 per cent of the assets in ING Global Real Estate Securities Fund, a fund managed by ING Investment Management Asia-Pacific. Investments of 0-35 per cent can be made in overseas mutual funds and 0-20 per cent in money market instruments including call money.

ING Global Real Estate Securities Fund (in which the Indian fund will predominantly invest) operates as a non diversified fund with mandate to invest at least 80 per cent of its assets in a portfolio of equity securities of companies or real estate investment trusts. During the NFO and on-going sales the fund will charge an entry load of 2.5 per cent up to 1 crore.

There will be no entry load over and above one crore. The fund will charge an exit load of 1 per cent if redeemed within 180 days from the date of allotment.

The minimum one time investment is Rs 5,000 and multiplies of Rs 1,000.The fund closes for subscription on December 14 and the earliest closing is December 7.

Canara Robeco Mutual Fund has declared dividend of 7 per cent in its Canara Robeco CIGO scheme under its income plan. The record date for the same is December 3.

DBS Chola Mutual Fund has announced a dividend of 40 per cent under DBS Chola Global Advantage Fund. The record date for the purpose is December 3.

Tata Mutual Fund has announced a dividend of 10 per cent under the dividend option of its close-ended scheme Tata Equity Management Fund. The record date for the purpose is fixed as December 4.

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