ING Mutual launches global real estate fund
ING Investment Management India will launch ING Global Real Estate Fund, an open ended fund of funds scheme, on Nov 20. The scheme closes on Dec 14.
By INDIATIMES NEWS NETWORK |
MUMBAI: ING Investment Management India will launch ING Global Real Estate Fund, an open ended fund of funds scheme, on Nov 20. The scheme closes on Dec 14.
The scheme will primarily invest in the Cayman Islands registered ING Global Real Estate Securities fund that seeks to provide investors with diversified returns consisting of income and capital appreciation over time. This will be India's first open ended real estate fund and the first fund to offer Indian investors access to global property markets.
“ING Global Real Estate Fund aims to offer an investor returns that are better than a fixed income product but with lower volatility than an equity fund. This product diversifies across 21 countries and invests in commercial properties. As on date, the fund does not have any exposure to the US sub-prime housing sector,” said Vineet K Vohra, managing director and CEO, ING Investment Management India.
ING Global Real Estate fund will act as a feeder fund for the Cayman registered real estate fund which is sub-advised by ING Clarion Real Estate Securities, a part of ING Real Estate.
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 net asset value thereafter. The earliest closure date is Dec 7.
Investors will have a choice of three options: Dividend, Growth and Bonus. The scheme may 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.
The scheme will primarily invest in the Cayman Islands registered ING Global Real Estate Securities fund that seeks to provide investors with diversified returns consisting of income and capital appreciation over time. This will be India's first open ended real estate fund and the first fund to offer Indian investors access to global property markets.
“ING Global Real Estate Fund aims to offer an investor returns that are better than a fixed income product but with lower volatility than an equity fund. This product diversifies across 21 countries and invests in commercial properties. As on date, the fund does not have any exposure to the US sub-prime housing sector,” said Vineet K Vohra, managing director and CEO, ING Investment Management India.
ING Global Real Estate fund will act as a feeder fund for the Cayman registered real estate fund which is sub-advised by ING Clarion Real Estate Securities, a part of ING Real Estate.
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 net asset value thereafter. The earliest closure date is Dec 7.
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Investors will have a choice of three options: Dividend, Growth and Bonus. The scheme may 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.
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