Date:17/08/2006 URL: http://www.thehindubusinessline.com/2006/08/17/stories/2006081704261500.htm

Back ING Vysya to re-position fund

Nilanjan Dey

Kolkata , Aug. 16

ING Vysya MF is exploring the possibility of re-positioning ING Select Debt Fund, which was launched in late 2004 as an open-end income scheme for investing inter alia in AA- and AAA-rated bonds.

Benchmarked against the Crisil Composite Bond Fund Index, the scheme tries to generate income by allocating to higher yielding fixed-income securities. It particularly chooses AA-rated paper.

"The corpus is relatively small, Rs 20 crore... but we hope to get our point across to the market,", Mr Sachdeva said.

As on June 30, it had 36.8 per cent in corporate debt and 49.2 per cent in FDs and various liquid assets.

It has provided 4.47 per cent since allotment (as on June 30).