ING MF Launches Zoom Investment Pac

Mumbai: ING Vysya Mutual Fund is unveiling an investment plan called Zoom Investment Pac (ZIP), in an attempt to raise its assets in equity holdings. Under the scheme, systematic transfers from the fund house's liquid (debt) scheme to equity scheme will take place on a daily basis instead of the current once-in-a-month transfers. The fund house has also brought down the minimum investment under the plan to Rs 99 a day. The fund house would be shifting the money to the equity scheme on a daily basis, based on the denomination decided by the investor.
The open-ended investment option will have an entry load of 2.25 per cent and the minimum investment size is Rs 5,000. ING Vysya MF has an asset size of around Rs 3,100 crore of which nearly 80 per cent (around Rs 2,500 crore) comes from fixed income schemes, while the share of equity corpus stands at around Rs 580 crore. The fund house is soon to be renamed as ING Mutual Fund, following the sale of ING Vysya Bank's 39 per cent stake in the AMC to real estate tycoon Rajan Raheja. ZIP accentuates the same virtues of disciplined investing, Vikaas Sachdeva, country head, business development.