ING Latin America Equity Fund tops MF schemes last week

Bangalore: The open ended ING Latin America Equity Fund which recorded a growth of 3.48 percent has topped the mutual fund schemes last week. As on February 26, 2010, the scheme has a fund size of 61.37 crore.

The MF schemes which followed ended ING Latin America Equity Fund are JPMorgan JF Greater China Equity Offshore Fund, HSBC Emerging Markets Fund, Mirae Asset China Advantage Fund and Kotak Global Emerging Market Fund with growth rates of 3.2, 2.6, 2.5 and 2.43 percent, respectively.

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The primary investment objective of the Scheme is to seek capital appreciation by investing predominantly in ING (L) Invest Latin America Fund. The scheme may, at the discretion of the Investment Manager, also invest in the units of other similar overseas mutual fund schemes, which may constitute a significant part of its corpus. The scheme may also invest a certain portion of its corpus in money market securities, in order to meet liquidity requirements from time to time. However, there is no assurance that the investment objective of the Scheme will be realized. Deepak Arackal is the Fund Manager of the scheme.