Background: The ING Group established its presence in India in 1992, when it opened a representative office of the ING Bank. It opened its first branch in Mumbai in 1994. ING Group has promoted ING Investment Management (India) Private Limited as a company incorporated in India for the purpose of carrying on asset management activities. The group has a 75% holding in this company. The fund house manages assets worth Rs. 2353.08 crore at the end of April 2009.
ING Dividend Yield Fund (G) an open-ended equity scheme launched in September 2005. The objective of the scheme to provide long-term capital appreciation by investing in a diversified portfolio of high quality equity and equity related securities. The minimum investment amount is Rs 5000 and in multiples of Re 1 thereafter. The unit NAV of the scheme was Rs 10.76 as on 11 May 2009.
Portfolio: The total net assets of the scheme increased by Rs 2.07 crore to Rs 18.30 crore in April 2009.
ING Dividend Yield Fund (G) took fresh exposure to two stocks in April 2009. It purchased 59956 units (2.24%) of Deepak Fertilizers & Petrochemicals Corporation and 30041 units (1.97%) of HEG in April 2009.
The scheme completely exited from Tata Power Company by selling 9300 units (4.40%) and Andhra Bank by selling 1.08 lakh units (3.02%), and Thermax by selling 25730 units (2.86%) among others in April 2009.
Sector-wise, the scheme took fresh exposure to Electrodes-Graphites at 1.97% among others in April 2009.
Sector-wise, the scheme exited completely from Engineering at 2.86%, Steel-Large at 2.26%, Automobiles-LCVs/HCVs at 2.12% and Finance-Housing at 1.80% among others in April 2009.
The scheme had highest exposure to Bharat Petroleum Corporation with 20020 units (4.24% of portfolio size) followed by Indian Oil Corporation with 17468 units (4.23%), Indraprastha Gas with 64946 units (4.15%) and Oil & Natural Gas Corporation with 7952 units (3.76%) among others in April 2009.
It reduced its exposure to Colgate-Palmolive (India) by selling 7494 units to 8006 units (by 2.42%), Power Finance Corporation by selling 9059 units to 18451 units (0.89%) and ICICI Bank by 4973 units to 9027 units (0.51%) among others in April 2009.
Sector-wise, the scheme had highest exposure to Fertilizers at 11.14% (8.17% in March 2009), followed by Refineries at 8.47% (9.00%), Banks-Public Sector at 6.46% (8.27%), Personal Care-Multinational at 5.28% (5.96%) among others in April 2009.
Sector wise, the scheme had reduced exposure in Power Generation and Supply to 2.85% (by 2.66%), Banks-Public Sector to 6.46% (by 1.81%) and Finance-Term-Lending Institutions to 1.56% (by 0.89%) among others in April 2009.
Performance: The scheme underperformed the Sensex over most of the time periods.
Over three-month period ended as on 11 May 2009, the scheme posted returns of 16.45% underperforming the Sensex that posted returns of 21.46%. Over 6 month period, the scheme's returns surged 12.08% underperforming the Sensex that rose 18.73%.
The returns of the scheme over one year period fell 26.10% outperforming the Sensex that plunged by 30.20%.
ING Dividend Yield Fund (G) an open-ended equity scheme launched in September 2005. The objective of the scheme to provide long-term capital appreciation by investing in a diversified portfolio of high quality equity and equity related securities. The minimum investment amount is Rs 5000 and in multiples of Re 1 thereafter. The unit NAV of the scheme was Rs 10.76 as on 11 May 2009.
Portfolio: The total net assets of the scheme increased by Rs 2.07 crore to Rs 18.30 crore in April 2009.
ING Dividend Yield Fund (G) took fresh exposure to two stocks in April 2009. It purchased 59956 units (2.24%) of Deepak Fertilizers & Petrochemicals Corporation and 30041 units (1.97%) of HEG in April 2009.
The scheme completely exited from Tata Power Company by selling 9300 units (4.40%) and Andhra Bank by selling 1.08 lakh units (3.02%), and Thermax by selling 25730 units (2.86%) among others in April 2009.
Sector-wise, the scheme took fresh exposure to Electrodes-Graphites at 1.97% among others in April 2009.
Sector-wise, the scheme exited completely from Engineering at 2.86%, Steel-Large at 2.26%, Automobiles-LCVs/HCVs at 2.12% and Finance-Housing at 1.80% among others in April 2009.
The scheme had highest exposure to Bharat Petroleum Corporation with 20020 units (4.24% of portfolio size) followed by Indian Oil Corporation with 17468 units (4.23%), Indraprastha Gas with 64946 units (4.15%) and Oil & Natural Gas Corporation with 7952 units (3.76%) among others in April 2009.
It reduced its exposure to Colgate-Palmolive (India) by selling 7494 units to 8006 units (by 2.42%), Power Finance Corporation by selling 9059 units to 18451 units (0.89%) and ICICI Bank by 4973 units to 9027 units (0.51%) among others in April 2009.
Sector-wise, the scheme had highest exposure to Fertilizers at 11.14% (8.17% in March 2009), followed by Refineries at 8.47% (9.00%), Banks-Public Sector at 6.46% (8.27%), Personal Care-Multinational at 5.28% (5.96%) among others in April 2009.
Sector wise, the scheme had reduced exposure in Power Generation and Supply to 2.85% (by 2.66%), Banks-Public Sector to 6.46% (by 1.81%) and Finance-Term-Lending Institutions to 1.56% (by 0.89%) among others in April 2009.
Performance: The scheme underperformed the Sensex over most of the time periods.
Over three-month period ended as on 11 May 2009, the scheme posted returns of 16.45% underperforming the Sensex that posted returns of 21.46%. Over 6 month period, the scheme's returns surged 12.08% underperforming the Sensex that rose 18.73%.
The returns of the scheme over one year period fell 26.10% outperforming the Sensex that plunged by 30.20%.
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