Optimix launches multi manager fund of funds scheme

Bangalore, Mar 16: Optimix, the multi manager division of ING Investment Management (India) Private Limited, today (Mar 16, 2006) announced the launch of its maiden multi manager product 'Optimix income growth multi manger Fund of Funds scheme.' The scheme would generate returns by investing primarily in a portfolio of debt funds, liquid funds, money market funds and equity funds accessed through divesified investment styles, Optimix Director Ashvin Arora told newspersons here.

The product had been featured in two plans, the first one was a 15 per cent Equity Plan wherein the plan invested approximately 85 per cent of its net assets in debt funds, liquid funds, money market funds and securities with the balance in equity funds and the second one was a 30 per cent equity plan wherein 70 per cent of the assets would be invested in debt funds, liquid funds and money market funds, with the balance 30 per cent in equity.

Mr Arora said the scheme was the first true multi manager, zero bias scheme in the Indian mutual fund market. It sought to put together best of breed equity and debt managers without any bias or limitation. The scheme, which opened on March nine, would close on April seven. The minimum investment would be Rs 5,000.

UNI