ING Group's advanced investment solutions provider
OptiMix, is launching its fourth fund-of-funds (FoF)
scheme in India. Called the OptiMix Dynamic Multi Manager,
this fund of funds (FoF) scheme is available through
ING Vysya Mutual Fund for initial subscription for a
month till September 28.
are relatively new instruments in the Indian asset management
business, and the total funds allocated to these funds
add up to less than Rs1,600 crore (as against the total
assets under management (AuM) of Rs2,88,500 crore).
invest their corpus in a plethora of funds, and are
hugely popular in developed markets. In India, just
eight of the 30 asset management companies offer FoFs.
fourth FoF, the three-year close-end Dynamic Multi Manager,
will invest in equity, debt and liquid funds, but not
in parent ING Vysya Mutual Fund schemes. The fund also
plans to launch the OptiMix Active Debt Multi Manager
to be invested only in debt funds shortly.
to an OptiMix spokesman, 'multi-manager' is the fastest
growing investment phenomenon in the world today. Multi-manager
AUMs topped $1.2 trillion in 2005, recording a 30 per
cent growth rate. Multi-manager AUMs have been growing
at a compounded annual growth rate (CAGR) of over 18
per cent, as against just five per cent of the mutual
invests its multi-manager funds in best-of-breed mutual
schemes of 10 asset management companies. Analysts have
described the performance of OptiMix schemes as 'middling.'