ING MF Introduces Institutional Plan

ING mutual fund has approved the introduction of institutional plan under ING Global Real Estate Fund, an open-ended scheme launched with effect from 19 March 2008. ING Global Real Estate Fund was launched on 20 November 2007.

The present investment option will be termed as “retail plan”, and an additional plan will be introduced under the same portfolio and the same will be termed as “institutional plan”.

Minimum application amount: The minimum application amount under the institutional plan is Rs 1 crore and in multiples of Re 1 thereafter. The minimum additional purchase is Rs 1000 and multiples of Re 1 and minimum redemption amount is Rs 1000 or 100 units.

Investment option: Institutional plan will have 3 options, viz dividend, growth and bonus option. The default option would be growth and in case of dividend option, the default sub - option will be dividend re-investment.

In case the investment value is less than Rs 1 crore and the plan is not mentioned the default plan would be retail plan and if value is Rs. 1 crore or more and no plan is mentioned the default plan would be institutional plan.

Load structure: There is no entry and exit load for investments made under the institutional plan of ING Global Real Estate Fund. The load structure of the retail plan remains unchanged.