ING floats India's first Latin America Equity Fund

The Scheme opens on June 19, 2008 and closes on July 10, 2008. The scheme will primarily invest in ING's existing Luxembourg domiciled fund
thereby seeking to provide an Indian investor long-term capital appreciation and exposure to countries which are amongst the fastest growing economies in the emerging market space. The Lux fund will try and achieve this by investing primarily in stocks of companies based out of Latin American countries or stocks of companies deriving a majority of their revenues from Latin American economies.

Vineet K Vohra, managing director and CEO, ING Investment Management India said,  "The emerging markets as a whole have held up fairly well considering that they are generally volatile than the US indices.

All emerging countries have some political risk associated with them, some much higher than others. However, what makes Latin America so attractive is the stable government in place in the recent years and their pro-growth policies. This is one part of the backdrop that isn't always visible to investors, but it plays an important role in medium & long term stability."

Latin America is a lucrative market on account of infrastructure investments, robust domestic demand, strong private consumption & surging commodity exports due to increasing demand from countries like India and China. Valuations for most of the Latin American economies look attractive as compared to their counterparts in the emerging markets.