ING targets RM300mil sales from latest investment funds


BY DALJIT DHESI

ING Funds Bhd expects to rake in RM300mil in sales from its ING OneAnswer Investment Funds by the year-end, said chief executive officer Steve Ong. 

He attributed the expected sales to cross-selling by sister company, ING Insurance, which has close to 9,000 agents and through banks acting as institutional unit trust agents. 

“Another way will be by targeting employer groups for the retirement purposes of their employees as our funds are designed to meet investors, irrespective of their age and risk profiles. 

“Our funds are able to meet investors' 'life-cycle' needs by taking them through the stages of accumulation, investment and retirement,'' he said in Kuala Lumpur yesterday at the launch of ING Funds Bhd and ING OneAnswer Investment Funds by Deputy Prime Minister Datuk Seri Mohd Najib Razak. 

From left: ING Insurance executive VP Rein Herman, Steve Ong, Datuk Seri Najib Razak, ING Funds chairman Tengku Abdullah Sultan Abu Bakar and ING Insurance president Datuk Christopher Davies.

Another factor that would boost sale is the international ING brand name and the new unit trust itself.  

ING OneAnswer is a master trust fund that provides a choice of nine trust funds and investment solutions through multiple fund managers based on investors' risk and return profiles.  

It provides investors a choice to five investment fund managers within a single investment product.  

For the first time in Malaysia, Ong said investors would be able to choose to allocate funds to be managed by ING itself or by the company's selected external third-party fund managers. 

Minimum investment is RM1,000 for the master trust fund which has a fund size of RM1.35bil.  

ING Funds is an associate company of Netherlands-based ING Group.  

In his speech, Najib said there must still be a concerted effort by the unit trust industry to develop new strategies to more efficiently mobilise the savings of investors.  

The players should make further inroads into the market and increase the appeal of unit trust to investors. 

In this regard, companies could and should increase investor awareness and interest through well-planned publicity campaigns and by introducing new and more innovative products suited to specific segments if the market, he said.  

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