ING Global Real Estate Fund launched

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Kolkata, Nov 20 (UNI) ING Global Real Estate Fund, the country's first open ended real estate fund and the first fund to offer Indian investors access to global property markets, was launched here today by ING Investment Management India.

The scheme, which will close on December 14, will primarily invest in the Cayman Islands registered ING Global Real Estate Securities fund that seek to provide investors with diversified returns consisting of income and capital appreciation over time.

Speaking on the occasion Managing Director and CEO, ING Investment Management India, Vineet K Vohra said, '' This fund opens up a new asset class for Indian investors. It aims to offer an investor returns that are better than a fixed income product but with lower volatility than an equity fund.'' '' 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 co-relation with Indian equity and bond markets,'' Mr Vohra observed.

He informed that this product diversifies across 21 countries and invests in commercial properties such as offices, shopping malls, healthcare facilities, hotels and apartments.

This scheme would invest overseas via the SEBI guidelines which allow investments by the mutual fund industry to the extent of 5 billion dollars, Mr Vohra maintained.


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