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. 2422.31 crore at the end of May 2009.
ING Domestic Opportunities Fund (G) an open-ended equity scheme launched in July 2004. The objective of the scheme to provide long term capital appreciation from a portfolio that is primarily invested in companies which derive a significant portion of their revenues from the Indian market place or economy. The minimum investment amount is Rs 5000 and in multiples of Re 1 thereafter.
Portfolio: The total net assets of the scheme increased by Rs 19.60 crore to Rs 97.15 crore in May 2009.
ING Domestic Opportunities Fund (G) took fresh exposure to four stocks in May 2009. It has purchased 1.24 lakh units (1.60%) of Infrastructure Development Finance Company, 53971 units (1.54%) of Cummins India and 75106 units (1.39%) of Everest Kanto Cylinder and 64902 units (1.10%) of GMR Infrastructure.
The scheme exited completely from Infosys Technologies by selling 26890 units (5.23%), Bajaj Auto by selling 13336 units (1.10%) and Shree Renuka Sugars by selling 80163 units (1.01%) among others in May 2009.
Sector-wise, the scheme took fresh exposure to Engines at 1.54%, Diversified-Medium/Small at 1.10% in May 2009.
Sector-wise, the scheme exited completely from Computers-Software-Large at 5.23%, Automobiles-Scooters and 3-Wheelers at 1.10%, and Transmisson Line Towers/Equipment at 0.29% among others in May 2009.
The scheme had highest exposure to Reliance Industries with 34914 units (8.18% of portfolio size) followed by Bharti Airtel with 56134 units (4.74%), ICICI Bank with 58455 units (4.46%) and Oil & Natural Gas Corporation with 33310 units (4.03%) among others in May 2009.
It reduced its exposure to Bharat Heavy Electricals by selling 4013 units to 4006 units (by 0.81%), Bharti Airtel by selling 174 units to 56134 units (by 0.70%), ITC to 2.10 lakh units (by 0.54%) and Colgate-Palmolive (India) by selling 71 units to 42464 units (by 0.54%) among others in May 2009.
Sector-wise, the scheme had highest exposure to Telecommunications-Service Provider at 10.45% (from 9.78% in April 2009), followed by Refineries at 10.31% (10.00%), Banks-Private Sector at 7.43% (6.45%) and Banks-Public Sector 6.31% (6.12%) among others in May 2009.
Sector wise, the scheme had reduced exposure to Personal Care-Indian to 1.25% (by 1.19%), Electric Equipment to 0.90% (by 0.81%), Sugar to 1.44% (by 0.56%) and Cigarettes to 3.98% (by 0.54%) among others in May 2009.
Performance: The performance of scheme is benchmarked against BSE 100. The scheme has underperformed the benchmark index over most of the time periods.
The scheme has posted returns of 22.94% underperforming the BSE 100 that gained 26.00% over 1 month period ended 8 June 2009.
Over 3 months period, the scheme advanced by 70.50% underperforming the benchmark index that gained 80.03%. It fell 6.16% less than the benchmark index that declined by 7.12% over 1 year period.
The group has a 75% holding in this company. The fund house manages assets worth Rs. 2422.31 crore at the end of May 2009.
ING Domestic Opportunities Fund (G) an open-ended equity scheme launched in July 2004. The objective of the scheme to provide long term capital appreciation from a portfolio that is primarily invested in companies which derive a significant portion of their revenues from the Indian market place or economy. The minimum investment amount is Rs 5000 and in multiples of Re 1 thereafter.
Portfolio: The total net assets of the scheme increased by Rs 19.60 crore to Rs 97.15 crore in May 2009.
ING Domestic Opportunities Fund (G) took fresh exposure to four stocks in May 2009. It has purchased 1.24 lakh units (1.60%) of Infrastructure Development Finance Company, 53971 units (1.54%) of Cummins India and 75106 units (1.39%) of Everest Kanto Cylinder and 64902 units (1.10%) of GMR Infrastructure.
The scheme exited completely from Infosys Technologies by selling 26890 units (5.23%), Bajaj Auto by selling 13336 units (1.10%) and Shree Renuka Sugars by selling 80163 units (1.01%) among others in May 2009.
Sector-wise, the scheme took fresh exposure to Engines at 1.54%, Diversified-Medium/Small at 1.10% in May 2009.
Sector-wise, the scheme exited completely from Computers-Software-Large at 5.23%, Automobiles-Scooters and 3-Wheelers at 1.10%, and Transmisson Line Towers/Equipment at 0.29% among others in May 2009.
The scheme had highest exposure to Reliance Industries with 34914 units (8.18% of portfolio size) followed by Bharti Airtel with 56134 units (4.74%), ICICI Bank with 58455 units (4.46%) and Oil & Natural Gas Corporation with 33310 units (4.03%) among others in May 2009.
It reduced its exposure to Bharat Heavy Electricals by selling 4013 units to 4006 units (by 0.81%), Bharti Airtel by selling 174 units to 56134 units (by 0.70%), ITC to 2.10 lakh units (by 0.54%) and Colgate-Palmolive (India) by selling 71 units to 42464 units (by 0.54%) among others in May 2009.
Sector-wise, the scheme had highest exposure to Telecommunications-Service Provider at 10.45% (from 9.78% in April 2009), followed by Refineries at 10.31% (10.00%), Banks-Private Sector at 7.43% (6.45%) and Banks-Public Sector 6.31% (6.12%) among others in May 2009.
Sector wise, the scheme had reduced exposure to Personal Care-Indian to 1.25% (by 1.19%), Electric Equipment to 0.90% (by 0.81%), Sugar to 1.44% (by 0.56%) and Cigarettes to 3.98% (by 0.54%) among others in May 2009.
Performance: The performance of scheme is benchmarked against BSE 100. The scheme has underperformed the benchmark index over most of the time periods.
The scheme has posted returns of 22.94% underperforming the BSE 100 that gained 26.00% over 1 month period ended 8 June 2009.
Over 3 months period, the scheme advanced by 70.50% underperforming the benchmark index that gained 80.03%. It fell 6.16% less than the benchmark index that declined by 7.12% over 1 year period.
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