Comments
ING Investment Management India has announced the launch of an open-ended multi-manager scheme – ING Optimix Financial Planning fund.
The new fund offer will open for subscription on April 19 and close on May 3, said a company release.
The minimum subscription amount is Rs 5,000 and subscription is in multiples of Re 1 thereafter.
A multi-manager scheme is a fund of funds scheme that invests in selected funds from various asset management companies. This gives the investor exposure to not only fund managers of various fund houses but also to different asset classes.
In the ING Optimix Financial Planning fund, investors will have exposure to four asset classes – equity, debt, liquid and gold. The fund will invest in three to six equity funds, two to three debt funds, one or two liquid funds and one gold exchange traded fund. “The idea is to choose funds with the best risk-adjusted portfolio,” said Mr Arvind Bansal, VP and Head-Multi Manager Investment, ING Investment Management India and manager of the scheme.
For the purpose of investment, the fund has tie-ups with fund houses such as HDFC, ICICI Prudential, Sundaram and Benchmark. The universe of the funds selected is expandable, said Mr Bansal.
Investors can choose from four risk plans: cautious, conservative, prudent and aggressive.
Comments
COMMENT NOW
Comments
Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.
We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.