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Friday, January 16, 2009

ING MF announces the change in load structure

With effect from 19 January 2009

ING Mutual Fund has announced changes in load structure of ING Income Fund –Regular Plan and Institutional Plan, with effect from 19 January 2009.

Hereafter, the scheme will not charge any entry load. The scheme will charge an exit load of 1% for applications of Rs 1 crore and below if redeemed within an including 365 days from the date of investment and nil if redeemed after 365 days from the date of investment. The scheme will not levy any exit load for applications more than Rs 1 crore.

The institutional option will not ask exit load.

ING Income Fund is an open-ended income scheme, with an investment objective to generate attractive income by investing in a diversified portfolio of debt and money-market instruments of varying maturities and at the same time provide continuous liquidity along with adequate safety.

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