ING Investment Management launches global real estate fund

Mumbai, Nov 19 (UNI) ING Investment Management India has announced the launch of the ING Global Real Estate Fund, an open ended fund of Funds (FoF) scheme for the Indian investors, which opens on November 20 and closes on December 14.

The minimum application amount to invest in ING's global real estate fund is Rs 5,000 and in multiples of Rupee one thereafter.

The minimum additional purchases are of Rs 1,000, in multiples of Rupee one thereafter.

The units will be available for Rs ten per unit during the NFO and at applicable NAV thereafter.

''This fund opens up a new asset class for Indian investors,'' ING Investment Management India Managing Director Vineet Vohra said while addressing reporters here today.

''It aims to offer an investor, returns that are better than a fixed income product but with lower volatility than an equity fund,'' he added.

It is the right time to bring such a product to India, as in today's volatile markets it potentially helps to lower an investor's portfolio risk due to its low correction with Indian equity and bond markets, Mr Vohra said.

This product diversifies across 21 countries and invests in commercial properties such as offices, shopping malls, healthcare facilities, hotels, apartments and others. As on date, the fund does not have any exposure to the US sub-prime housing sector.

UNI