ING MF files an offer document with SEBI

16 Apr 2008 | 17:35

ING MF files an offer document with SEBI

Name of Fund: ING Latin America Equity Fund

Scheme: The scheme is an open-ended fund of funds scheme.

Structure of the scheme: The scheme primarily will invest in ING (L) Invest Latin America Fund (a Luxembourg based fund) and seeks to provide long-term capital appreciation by investing primarily in a diversified portfolio of shares and/or transferable securities issued by companies, quoted or traded in Latin America (including the Caribbean). The fund (ING (L) Invest Latin America Fund Luxembourg based fund) is managed by ING Investment Management Luxembourg S.A.and sub managed by ING Asset Management BV.

Objective: The primary investment objective of the Scheme is to seek capital appreciation by investing predominantly in ING (L) Invest Latin America Fund. 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. The Scheme may also invest a certain portion of its corpus in money market securities, in order to meet liquidity requirements from time to time. However, there is no assurance that the investment objective of the Scheme will be realized.

Investment options: The investors will have the choice of three options viz. dividend option, bonus option and growth option.

Asset Allocation: The scheme will invest 65-100% of its portfolio in ING (L) Invest Latin America Fund. It may invest 0-20% in money market instruments including reverse repo. There will be 0-35% investment in other overseas mutual fund schemes.

Face Value: Rs 10 plus applicable entry load during NFO period.

Entry Load: For application below Rs 5 crore, the scheme may charge 2.5% an entry load. The scheme will not charge an entry load for application of Rs 5 crore and above.

Exit Load: The scheme will not charge any exit load.

Minimum Investment Amount: The minimum investment amount is Rs.5000 and in multiples of Re.1 thereafter.

Target Amount: The scheme seeks to raise a minimum target amount of Rs 1 lakh during the New Fund Offer Period.

Benchmark index: MSCI EM Latin America 10/40 Index.

Fund Manager: Ms Jasmina Parekh