ING Mutual Fund has announced that changes in name of scheme, investment objective, asset allocation pattern of ING MIP Fund with effect from 19 April 2008.
ING MIP Fund was launched on 12 January 2004. The scheme has 2 portfolios viz. MIP Plan A and MIP Plan B.
The changes are done as follows:
Name of the scheme: The name of ING MIP Fund – Plan A changes to ING Dynamic Duration Fund and ING MIP Fund – Plan B to ING MIP Fund.
Investment objective ING MIP Fund: Presently the investment objective of ING MIP Fund is to generate regular income by investing in a diversified portfolio of debt and money-market instruments of varying maturities and at the same time provide continuous liquidity along with adequate safety. Under plan ‘B’, the scheme will also seek to generate capital appreciation by investing a smaller portion of its corpus in equity and equity related securities.
Investment objective of ING MIP – Plan A: The primary investment objective of the scheme is to seek to generate in the form of interest, income and capital gains through active management of the portfolio by investing in debt securities and money market securities/instruments. However there can be no assurance that the investment objective of the scheme is achieved.
Asset allocation of ING MIP – Plan A: It may invest 0-100% in money market securities and 0-100% in debt securities Debt securities may include securitized debt up to 75% of the net assets.
The asset allocation and investment objective of ING MIP – B remain unchanged.
Since the above is a change in the fundamental attributes of ING MIP Fund – Plan A, the unit holders under the said scheme are given an option to exit without any Exit Load / CDSC for all redemption of units made from 19 March 2008 to 17 April 2008.
All other terms and conditions of the offer document remains unchanged.
ING MIP Fund was launched on 12 January 2004. The scheme has 2 portfolios viz. MIP Plan A and MIP Plan B.
The changes are done as follows:
Name of the scheme: The name of ING MIP Fund – Plan A changes to ING Dynamic Duration Fund and ING MIP Fund – Plan B to ING MIP Fund.
Investment objective ING MIP Fund: Presently the investment objective of ING MIP Fund is to generate regular income by investing in a diversified portfolio of debt and money-market instruments of varying maturities and at the same time provide continuous liquidity along with adequate safety. Under plan ‘B’, the scheme will also seek to generate capital appreciation by investing a smaller portion of its corpus in equity and equity related securities.
Investment objective of ING MIP – Plan A: The primary investment objective of the scheme is to seek to generate in the form of interest, income and capital gains through active management of the portfolio by investing in debt securities and money market securities/instruments. However there can be no assurance that the investment objective of the scheme is achieved.
Asset allocation of ING MIP – Plan A: It may invest 0-100% in money market securities and 0-100% in debt securities Debt securities may include securitized debt up to 75% of the net assets.
The asset allocation and investment objective of ING MIP – B remain unchanged.
Since the above is a change in the fundamental attributes of ING MIP Fund – Plan A, the unit holders under the said scheme are given an option to exit without any Exit Load / CDSC for all redemption of units made from 19 March 2008 to 17 April 2008.
All other terms and conditions of the offer document remains unchanged.
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