ING OptiMix Equity Fund tops mutual fund last week


Bangalore: 'ING OptiMix Multi Manager Equity Fund' topped the list of mutual fund schemes in the week ended August 13, 2009. The value of ING went up by 10.21 percent with the net asset value (NAV) of 9.17. Arvind Bansal and Anand Shah Deepak are fund managers of this open ended fund, which has a market size of 88.73 crore as on July 31, 2009. Some of the key holdings of the fund are Reliance Industries, State Bank of India (SBI), Bharti Airtel and Bharat Heavy Electricals (BHEL). The primary objective of the scheme is to provide long-term capital appreciation by investing predominantly in equity and equity-related securities accessed on the basis of advice from a panel of third party investment advisors in accordance with the 'OptiMix Multi Manager' investment process. According to mutualfundsindia.com, other funds which followed ING OptiMix Multi Manager Equity Fund in top list for the last week are Reliance Pharma, which gained by 5.9 percent, Tata Equity P/E by 5.2 percent, Birla Sun Life New Millennium by 4.9 percent and DSP BlackRock Technology.com by 4.6 percent. With the deposit rates falling drastically over the past couple of months and the stock markets regaining its bullish trend, investors have begun to park their funds in mutual fund schemes. According to CRISIL (Credit Rating and Information Services of India), income and liquid funds saw strong inflows in July, with banks again parking money in mutual funds after withdrawals in June end to meet quarter end capital adequacy related requirements. The positive market momentum saw continued interest in equity funds. Rising FII (Foreign Institutional Investor) inflows helped in providing good liquidity to the equity markets as they bought secondary market equities worth 116 billion in July compared to 32 billion in June. The month of July also witnessed the second highest net inflows of 2009 of 1.2 trillion (the highest being in April 2009 at 1.5 trillion).