News: ING Vysya MF launches close-ended equity fund

(RTR 24/07/2006) Mumbai - ING Vysya Mutual Fund said on Monday it will launch a close-ended fund which will invest in small-cap companies, marking its tenth equity fund in India.

The ING Vysya C.U.B (Competitive Upcoming Businesses) Fund will be open for initial subscription between July 25 and August 21.

The fund will be managed by Chief Investment Officer Paras Adenwala who oversees eight other equity funds and one balanced fund.

The fund can invest 65-100 per cent of its assets in small-cap companies, up to 35 per cent in other equity and equity-related securities and up to 25 per cent in money market instruments, according to its offer document.

It will be converted into an open-ended fund after 3 years.

ING Vysya Mutual Fund had assets worth Rs 3,600 crore .Rs 3,800 8 crore on June 30.