ING FMP Series XXIX And XXV Garner Rs 458 crore

ING Mutual Fund has garnered Rs 458 crore in its recently launched ING Fixed Maturity Fund - Series XXIX (FMP-29) & ING Fixed Maturity Fund -Series XXV (FMP-25). FMP - Series XXIX scheme was opened for subscription between 25 June -28 June 2007. ING Mutual Fund total assets under management (AUM) under various schemes have been consistently over the Rs. 5000 crore marks with Rs. 5346.13 crore in June 2007.

ING Fixed Maturity Fund - Series XXIX and series XXV are close-ended schemes offering an investment plan of 91 days maturity, investing in a portfolio of government securities or highly rated corporate bonds maturing close to the maturity of the scheme so as to generate returns comparable with alternative fixed-income instruments of similar maturity. The schemes will invest in debt securities with maturity coinciding closely with the maturity of the scheme, so as to minimize the impact of price fluctuation of such securities and the value at maturity.

The schemes shall invest up to 100% in Debt securities and Money market instruments including call money (as and when permitted by RBI) and reverse repo. Debt securities may include securitised debt up to 90% of the net assets. Investments in Derivatives Instruments shall be to a maximum of 50% of the Net Assets of the Scheme.