ING Mutual Fund has collected Rs 200 crore through its ING Fixed Maturity Fund- Series 42 during its initial offer period from 14 February 2008 to 19 February 2008. The ING Fixed Maturity Fund- Series 42, which is a close-ended bond scheme 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 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.
ING Fixed Maturity Fund- Series 42 will offer two plans i.e. retail and institutional plan with a sub-option of growth, dividend. The scheme shall invest up to 100% in debt securities and money market instruments including call money and reverse repo. The debt securities may include securitised debt up to 100% of the net assets. The investments in derivatives instruments shall be to a maximum of 50% of the net assets of the scheme.
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