ING Vysya Mutual Fund has launched two new funds ING Vysya
Nifty Plus Fund and ING Vysya MIP Fund. The offer closes
on February 6, 2004 at a price of Rs.10 per unit. According
to the company the first net asset value (NAV) will be
declared on February 24,2004 after which the investors
can purchase or redeem the units.
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 fund will invest around 70 per cent
of the corpus in S&P CNX Nifty Index itself and the
remaining will be invested in Nifty stocks.
ING Vysya MIP Fund offers two options viz. Plan 'A' invests
only in debt market securities and Plan 'B' invests at
least 80 per cent in debt and up to 20 per cent is invested
in equities, primarily through the ING Vysya Nifty Plus
MIP scheme investors also get additional benefits like
having a savings bank account with ING Vysya Bank at no
minimum balance, a free ATM cum debit card, drawing of
demand drafts upto Rs.2 lakh free of charge, accident
insurance for Rs.3 lakh for three years.