ING Mutual Fund Launches Close-Ended Bond Scheme

ING Mutual Fund has rolled out a close-ended bond scheme, ING Fixed Maturity Fund Series XXVIII. The new fund offer opens on July 24 and closes on July 27. The minimum application amount is Rs 5,000. The fund provides dividend option, bonus option & growth option.ING Fixed Maturity Fund Series XXVIII is a close-ended scheme investing in a portfolio of government securities or highly rated corporate bonds maturing close to the maturity of the scheme - 367 days - so as to generate returns comparable with alternative fixed-income instruments of similar maturity. The scheme will invest in debt securities with maturity coinciding closely with the maturity of the scheme, so as to minimise the impact of price fluctuation of such securities and the value at maturity.