ING Investment Management India launched ING Global Real Estate Fund, an open ended Fund of Funds (FoF) scheme for the Indian investors. The scheme opens on Nov. 20, 2007 and closes on Dec. 14, 2007. The earliest closure date is Dec. 7, 2007.
The minimum application amount to invest in ING`s global real estate fund is Rs 5,000 and in multiples of Re 1 thereafter. The minimum additional purchases are of Rs 1,000, in multiples of Re 1 thereafter. The units will be available for Rs 10 per unit during the NFO and at applicable NAV thereafter. The NFO opens on Nov. 20, 2007 and closes on Dec. 14, 2007. Investors will have the choice of three options: dividend option, growth option and bonus option. The Scheme may, at the discretion of the Investment Manager, also invest in the units of other similar overseas mutual fund schemes, which may constitute a significant part of its corpus and for liquidity requirement invest in money market securities.
This scheme will invest overseas via the SEBI guidelines which allow investments by the mutual fund industry to the extent of USD 5 billion.
This scheme will invest overseas via the SEBI guidelines which allow investments by the mutual fund industry to the extent of USD 5 billion.
Those who want to have exposure to Global real estate can apply. Can be added to diversify your portfolio.New investors with lesser MF exposure can look for better options.
It will be treated as debt fund for all taxation purpose. Tax benefits available to equity funds wont apply to this fund.
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