| ING Investment Management India has launched a global real estate fund that will invest in REITs and real estate operating companies abroad. |
| It is an open-ended feeder fund that will primarily invest in Cayman Islands and is registered as ING Global Real Estate Securities Fund. |
| The fund will invest in global property markets. ING Clarion Real Estate Securities will be sub-advisor to the fund. The fund will have a large allocation to Asia-Pacific followed by North America and Europe. |
| In selecting investments for the fund, the investment manager seeks out companies that derive at least 50 per cent of their total revenues or earnings from owning, operating, developing and/or managing real estate. |
| Vineet K Vohra, managing director and CEO, ING Investment Management, said, “This fund opens up a new asset class for Indian investors. It aims to offer returns that are better than a fixed income product but with lower volatility than an equity fund. Till date, the fund does not have any exposure to US sub-prime housing problem.” |
| The new fund offer opens on November 20 and closes on December 14. |
Source: Business Standard