Post by Sapphire Capital on Jul 29, 2008 3:36:39 GMT 4
MUMBAI: July 28, 2008
ING Investment Management India today launched a commodities fund that aims to achieve long-term capital growth by investing primarily in units of global commodity-oriented mutual funds.
ING Optimix Global Commodities Fund, an open-ended fund of funds (FoF) scheme, opens for subscription tomorrow and closes on August 25.
The fund would be offered under its multi manager investment engine, ING OptiMix. Its main objective is to achieve long-term capital growth by investing primarily in units of global commodity-oriented mutual funds, which invest in commodity-related securities.
"Commodities are expected to continue to be driven by a strong fundamental demand from emerging economies. The fund would invest in some of the best commodity-oriented global companies," ING Investment Management India Managing Director and CEO Vineet Vohra told reporters here.
In the long-run, commodity equities have tended to outperform pure commodities often with lower volatility. A commodity equity exposure also helps the investor to leverage the sound fundamentals of these successful multinational commodity companies, Vohra said.
Under the multi-manager concept, the scheme will invest in some of the largest and best-performing global commodity funds. ING IM has selected Credit Suisse, First State, Martin Currie, Societe Generale, Fortis and J P Morgan, which have vast experience in managing commodity strategies.
ING Investment Management India today launched a commodities fund that aims to achieve long-term capital growth by investing primarily in units of global commodity-oriented mutual funds.
ING Optimix Global Commodities Fund, an open-ended fund of funds (FoF) scheme, opens for subscription tomorrow and closes on August 25.
The fund would be offered under its multi manager investment engine, ING OptiMix. Its main objective is to achieve long-term capital growth by investing primarily in units of global commodity-oriented mutual funds, which invest in commodity-related securities.
"Commodities are expected to continue to be driven by a strong fundamental demand from emerging economies. The fund would invest in some of the best commodity-oriented global companies," ING Investment Management India Managing Director and CEO Vineet Vohra told reporters here.
In the long-run, commodity equities have tended to outperform pure commodities often with lower volatility. A commodity equity exposure also helps the investor to leverage the sound fundamentals of these successful multinational commodity companies, Vohra said.
Under the multi-manager concept, the scheme will invest in some of the largest and best-performing global commodity funds. ING IM has selected Credit Suisse, First State, Martin Currie, Societe Generale, Fortis and J P Morgan, which have vast experience in managing commodity strategies.