KUALA LUMPUR: ING Funds Bhd is building a strong investment platform in its efforts to make inroads into the global markets.
Chief executive officer Steve Ong said the company was formulating a series of ING global funds that would meet the investment objectives of its clients and ensure better returns for their investments.
It would be launching its second global fund, a feeder fund that would invest in real estate securities and real estate investment trusts, he added.
“We hope to launch the second global fund probably by end of July. Our applications have been approved by the Securities Commission (SC) and now we are in the process of submitting the final documents to the SC before launching it,'' he told StarBiz.
ING Funds is a unit trust management company under the Dutch ING group.
He said, would feed into the group's existing real estate global fund. He said the company was upbeat that the fund would be well received by local investors.
“The real estate market is dependent on the state of the economy. If it is charting good growth, then the demand for real estate and rental income will also surge,” he said.
Judging from the encouraging local economic growth, ING Funds feels it is the right time to launch a global real estate fund.
The two-year-old company is now in the 18th spot among 37 players in terms of funds under management. Currently, ING Funds manages RM480mil in funds and aims to hit the RM1bil mark by year-end.
Its first global fund, ING AsiaPac Capital Guaranteed, was fully subscribed at RM388mil on May 26, making it the country's largest capital guaranteed fund to be sold within the 45-day offer period.
Ong said ING Funds would continue to introduce innovative funds that met investors' risk profiles and promote awareness of the ING brand via investment seminars. He said the company's first Master Fund, the ING OneAnswer Investment Funds, was different from other funds in the market as it comprised nine different funds managed by five fund managers. The fund provides unlimited free switching among equity and balanced funds. Ong added that Employees Provident Fund members could now withdraw a certain portion of their contributions to buy ING's unit trust funds. This, he said, would help spur the company's unit trust sales and help it grow.
On ING's electronic financial portal, he said it allowed investors to transact, redeem and switch funds conveniently as well as helping them to better manage their investment portfolios.
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