19 Apr 2008 | 10:37 ING MF changes in OptiMix Active Short Term Fund
ING Mutual Fund has approved changes in investment plan and exit load of OptiMix Active Short Term Fund, an open ended Fund of Funds. The changes are to be effective from 21 April 2008. The primary objective of the Scheme is to generate returns from a portfolio of debt funds (the average maturity period of the portfolio of these funds would be up to 18 months), accessed through the diverse investment styles of underlying schemes selected in accordance with the OptiMix Multi Manager Investment process.
The AMC introduces institutional plan under OptiMix Active Short Term Fund and the existing scheme would be termed as retail plan. Consequently, the scheme shall have two plans viz. retail and institutional. There shall be two sub options under both the plans-growth and dividend payout and reinvestment option.
Minimum application amount: The minimum application amount under the institutional plan is Rs 1 lakh and in multiples of Re 1 thereafter. The minimum additional purchase is Rs 1 lakh and multiples of Re 1 thereafter.
Load structure: There is no entry load for investments made under the institutional plan of OptiMix Active Short Term Fund.
The scheme will charge 0.10% an exit load if redemption within 7 days from the date of allotment.
The AMC has revised exit load structure for retail plan of the fund as follows:
| Particulars | Existing load Structure | Revised load structure |
| Exit load | 0.10% for redemptions within 15 days from the date of investment | 0.30% for redemptions within 90 days from the date of investment |
All the other terms and conditions of the scheme will remain unchanged.
Switch in facility from Multi Manager Scheme into retail plan of the fund stands rescinded with effect from 21 April 2008.