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Monday, February 09, 2009

ING Announces merger of units of two schemes

With effect from 7 March 2008

ING Mutual Fund has announced the merger of ING OptiMix Active Short Term Fund (AST) with ING OptiMix Active Debt Multi Manager FOF Scheme (AD), with effect from 07 March 2009.

After the merger, as there are no plans under the merged scheme, both the retail and institutional plan of merging scheme AST is proposed to be merged into the merged scheme. Dividend option of the merging scheme (AST) is proposed to be merged into the dividend option of the merged scheme (AD). Growth option of the merging scheme is proposed to be merged into the growth option of the merged scheme. And investment objective and asset allocation pattern of AD will remain the same.

The investors of ING OptiMix Active Debt Multi Manager FOF Scheme may exercise an exit option without any exit load from 6 February 2009 to 7 March 2009. If the investors do not exercise the exit option, it would be deemed that they have consented to the proposed change. All the unit holders of AST as at the end of 7 March 2009 will automatically become the unit holders of AD, with the units allotted in the later scheme at the prevailing NAV of the relevant option on that date.

The sales of the unit of AST will stand suspended with effect from 8 March 2009.

ING OptiMix Active Debt Multi Manager FOF is an open ended FoF scheme that shall invest primarily in debt funds which include income funds, gilt funds, floating rate funds, short term funds, fixed maturity plans and liquid funds.

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