Mumbai: ING Investment Management (India) on Tuesday filed initial papers with the market regulator to launch a fund of funds that would invest in one of ING Group's existing fund targeting firms in Latin America.
ING Latin America Equity Fund will mainly invest in ING (L) Invest Latin America Fund, which invests in a diversified portfolio of stocks issued by companies listed or traded in Latin America, the firm said in its offer document.
The firm can also invest up to 35 percent of the assets in units of other overseas mutual funds and up to 20 percent in money market instruments.
ING Latin America Equity Fund will mainly invest in ING (L) Invest Latin America Fund, which invests in a diversified portfolio of stocks issued by companies listed or traded in Latin America, the firm said in its offer document.
The firm can also invest up to 35 percent of the assets in units of other overseas mutual funds and up to 20 percent in money market instruments.
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