OptiMix launches multi-manager FOFs

Ahmedabad, Mar 20 (UNI) OptiMix, the multi-manager division of ING Investment Management (India) Private Limited, has come out with country's first Fund of Funds (FoFs) scheme ''OptiMix Income Growth Multi-Manager FOF (OIGMMFOF)''.

Optimix chief R&D officer Uma Shashikant told reporters here today the primary objective of the scheme is to generate returns by investing primarily in a portfolio of debt funds, liquid funds, money market funds and equity funds accessed through the diversified investment styles of underlying schemes selected in accordance with the OptiMix Multi Manager Investment process.

She said the product features two plans. The first is a 15 per cent Equity Plan wherein the plan invests approximately 85 per cent of its net assets in debt funds, liquid funds, money market funds and money market securities and the balance of about 15 per cent in equity funds. The maximum exposure of this plan to equities is 20 per cent.

The second is called 30 per cent Equity Plan wherein the plan invests approximately 70 per cent of its net assets in debt funds, liquid funds, money market funds and money market securities and balance of about 30 per cent in equity funds. The maximum exposure of this plan to equities is 35 per cent, Ms Shashikant added.

She said the OIGMMFOF Scheme is the first true multi-manager, zero-bias FoFs in the Indian mutual fund market. The fund seeks to put together best of breed equity and debt managers without any bias or limitations.

UNI MP MAZ SKB1849