ING Vysya MF unveils two products

ING Vysya Mutual fund has launched two new products, the Nifty Plus Fund and the MIP Fund in Ahmedabad on Thursday.

Sushil K Sharma, chief marketing officer, ING Vysya Mutual Fund, said, "The Nifty index is the capsule that mirrors the growth and the state of the economy. If you want to participate in the rally brought about in the economy, investing in the ING Vysya Nifty Plus Fund is the worry-free choice."

The Nifty Plus Fund offers a comprehensive approach to participating in the robust growth in the Indian economy, he said. The MIP Fund provides significant additional value-added benefits, he said.

The initial offer will open on January 12 and close on February 6. During this period, the units are available at Rs 10 per unit at par.

The first NAV will be declared on February 24 and the investors can purchase or redeem units every business day at NAV-based prices thereafter, he said.

The ING Vasya Nifty Plus Fund is an open-ended equity scheme, which invests only in companies that are part of the S&P CNX Nifty.

The Nifty Plus Fund allows investors to ride the wave of the index going up, by investing at least 70 per cent in S&P CNX Nifty index itself and the remaining 30 per cent in Nifty stocks, he said.

By investing in Nifty stocks, the company ensures the quality of the companies and the liquidity of the shareholders, he said.

The investment in the other Nifty stocks creates the possibility of beating the market, Sharma said.

The MIP Fund offers two options: Plan A invests only in the debt market securities of high quality.

Maturities are calibrated based on the interest rate outlook and the fund focuses on regular returns, Sharma said.

Plan B invests at least 80 per cent in debt and 20 per cent in equities, primarily through the ING Vysya Nifty Plus Fund.