New Delhi, Nov 22 (UNI) ING Investment Management India today launched its Global Real Estate Fund for Indian investors, monies which will be invested in commercial properties in 21 counries.
The scheme, which is open ended, will primarily invest in Cayman Islands registered ING Global Real Estate Securities Fund that seeks to provide invesors with diverified returns consising of income and capital appreciation over time.
"This is India's first open ended real estate fund to offer investors access to global property markets," CEO ING Investment Management India Vineet K Vohra told reporters here.
Talking about the advantages of investing in such a Fund, Mr Vohra said it will offer returns tha are better than a fixed income product but with lower volatility than an equity fund.
The commercial properties where the monies are to be invested include offices, shopping malls, healthcare facilities, hotels and apartments.
ING Global Real Estate Fund will act as a feeder fund for the Cayman registered Real Estate Fund which is sub-advised by ING Clarion Real Eseate Securities, a part of ING Real Estate.
ING Real Estate is the largest real estate investment manager in the world with almost 145 billion dollars in real estate assets under management, Mr Vohra said.
The Fund has alarge allocations to Asia-Pacific, followed by North America and Europe. The Fund is mandated not to invest directly in properites but in Real Estate Investment Trusts (REITs) and Real Estate Operating Companies (REOCs).
Mr Vohra said the Minimium application amount to invest in ING Global Real Estate Fund is Rs 5,000 and in multiples of Rs one thereafter. The Minimum additional purchases are of Rs 1,000, in multiples of Rs one thereafter.
The Fund opended for subcription on November 20, 2007, and closes on December 14,2007. The earliest closure date is December 7,2007.