 In
its continuous endeavour to provide retail investors with safe investment
options, ING Vysya Mutual Fund, one of the leading players in the Indian mutual
fund industry, has launched two new products. The ING Vysya Nifty Plus Fund,
offers a comprehensive approach to partidpating in the robust growth in the
Indian economy. The ING Vysya MIP Fund is an Monthly Income Plan that addresses
worries of earning regular returns and provides significant additional
value-added benefits, said IVMF Chief Marketing Officer Sushil K Sharma in
Chennai on January 13.
The initial offer opened on
January 12, 2004 and closes on February 6, 2004; during this period, units are
available at Rs. 10 per unit at par. The first NAV will be dedared on February
24, 2004 and investors can purchase or redeem units every Business Day at
NAV-based prices thereafter.
The ING Vysya Nifty Plus Fund
is an open-ended equity scheme, which invests only in companies that are part of
the S&P CNX Nifty Index. The ING Vysya Nifty Plus Fund allows investors to
ride the wave of the index going up, by investing atleast 70% in S&P CNX
Nifty Index itself the remaining (upto 30%) will be invested in Nifty stocks. By
investing in Nifty stocks, ING Vysya MF ensures the quality of the companies and
the liquidity of the shares. The investment in the other Nifty stocks creates
the possibility of beating the market.
The ING Vysya MIPFund offers
two unique options viz. Plan 'A' invests only in debt market securities of high
quality. Since maturities are calibrated based on the interest rate outlook, it
is essentially a carefully managed fund with a single focus - regular returns.
Plan 'B' invests at least 80% in debt and up to 20% is invested in equities,
primarily through the ING Vysya Nifty Plus Fund.
Apart from addressing the
return requirements, the MIP also offers an attractive range of additional
features, which enable investors to better harness their earnings.
Through the offer of the Orange
Savings account - at no minimum balance to Investors In the IPO - investors can
get a free ATM cum Debit card, which enables transactions at 5000 ATMs across
the country without transaction charges. Investors can avail demand drafts up to
Rs 2 lakh without paying DD charges. To offer protection the MIP offers accident
insurance of Rs 3 lakh for three years and accident hospitalisation insurance of
Rs 35,000/- also through the Orange Savings Account. Internet Banking is also
available free.
Commenting on the launch of the
two new schemes, Sushil K Sharma - Chief Marketing Officer, ING Vysya Mutual
Fund, said; "The NIFTY Index is a capsule that mirrors the growth and state
of the economy. If you want to participate in the rally brought about the
economy, investing in the ING Vysya Nifty Plus Fund is the worry-free
choice."
Added Sharma, "Investors
who wish to improve the yield on their investments are now posed with the
challenge on achieving desired returns without compromising on their risk
appetite. This has led to the popularity of MIPs- Monthly Income Plans that
typically invest predominantly in debt with a touch of equity to boost returns.
Then there are investors who are completely averse to exposure in equities and
would prefer to stay invested in pure debt investments. Even such investors have
to decide between short-term and long-term debt schemes, keeping in mind the
interest rate scenario. The ING Vysya MIP Fund offers plans which meet the
investor needs in both the cases."
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ING Vysya launches new schemes
