ING Investment Management India, today said it is launching its ING Optimix Financial Planning Fund (an open-ended fund of funds scheme) aimed at simplifying investing in mutual funds.
The most unique feature of this fund is its ability to invest across carefully selected best-of-breed Funds from different asset management companies in one convenient fund.
In addition, investors can invest in four different asset classes -- liquid funds, debt funds, equity funds and gold ETFs, while getting the flexibility to choose from four convenient plans that cater to different risk tolerance levels investors may have, a press release issued here stated.
"Mutual fund investing today has become complex and stressful. Investors need to choose from thousands of funds, closely track their performance, take decisions to retain or change funds, attract tax liability if funds are changed before 12-months and finally, reconcile all these holdings at the end of the year.
ING IM's unique Multi Manager Fund of Funds capability simplifies all of this in an instant," ING Investment Management India Managing Director & CEO Navin Suri said.
"ING has been offering Multi Manager funds in India since 2006 and already manages close to Rs 347 crore from a wide base of nearly 30,000 investors," he said.
Investors can choose from four risk profiles -- cautious, conservative, prudent and aggressive -- each offering a different mix of asset classes, the release said.
"The product is an excellent way to start for first time mutual fund investors just as it is for those who are actively investing in mutual funds," ING Investment Management India's Vice-President & Head-Multi Manager Investment, Arvind Bansal, said.