ING Mutual Fund has collected Rs 9.691 crores via ING Fixed Maturity Fund- Series 44 during their initial offer period from 19 March to 24 March 2008. It is a close-ended bond scheme offering an investment plan of 91 days maturity.
The scheme will be 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 on the value of the security at maturity.
The scheme provides two plans i.e. retail and institutional plan with a sub-option of growth, dividend.
To provide liquidity to investors, the Fund proposes to provide repurchase facility in the scheme on 23 April, 23 May 2008, and 22 June 2008. If repurchase request is submitted after the date of allotment and on or before 22 June 2008 the applicable Contingent Deferred Sales Charge (CDSC) will be 1.00%. If repurchase request is submitted on 22 June 2008 and on or before 23 June 2008 there will be no CDSC.
The scheme will be 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 on the value of the security at maturity.
The scheme provides two plans i.e. retail and institutional plan with a sub-option of growth, dividend.
To provide liquidity to investors, the Fund proposes to provide repurchase facility in the scheme on 23 April, 23 May 2008, and 22 June 2008. If repurchase request is submitted after the date of allotment and on or before 22 June 2008 the applicable Contingent Deferred Sales Charge (CDSC) will be 1.00%. If repurchase request is submitted on 22 June 2008 and on or before 23 June 2008 there will be no CDSC.
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