Kochi, Aug 6: ING Investment Management India today introduced the ING Optimix Global Commodities Fund, an open ended fund of funds (FoF) here, with the objective of achieving long-term capital growth by investing primarily in units of global commodity-oriented mutual funds.
The country's first multi-manager global commodity equity fund, which opened in July 29 and closes on August 25, seeks to look at portfolio of funds to create a risk-adjusted solution that was optimal for investors looking to lower their risk for a given investment, Company CIO-Multi Manager Investments Arvind Bansal told reporters.
The multi-manager investment process involves strategic and tactical asset allocation, and helps to reduce risk by diversification of investment styles and processes used by various underlying managers, he said.
Mr Bansal noted that the commodities were expected to continue to be driven by a strong fundamental demand from emerging economies due to the on-going urbanisation, infrastructure development and improved consumption habits of growing middle-class population.
Under the multi-manager concept, the scheme would invest in some of the largest and best performing global commodity funds and the underlying manager would include established names like Credit Suisse, First State, Martin Currie, Societe Generale, Fortis and J P Morgan.