TheStar
KUALA LUMPUR: ING Funds Bhd says most of its 23 funds performed well this year, with one paying out as much as 30 per cent returns a year despite the sluggish economic climate.
The funds under management now are worth RM3.4 billion, higher than last year's RM2.7 billion, said CEO Datuk Steve Ong to reporters on the sidelines of the two-day 14th Malaysian Capital Market Summit 2009 which began yesterday.
ING Funds is the Malaysian affiliate of ING Investment Management, the investment arm of the ING Group.
Launched in 2004, ING Funds had become one of the fast-growing private unit trust management companies.
Ong said the "appetite" for unit trust schemes was still there despite the projected slower pace of economic recovery next year.
"Demand is huge out there, but it is subject to investors' needs whether it is for wealth, education or even retirement," he said.
Ong said there was ample liquidity in the financial system to be tapped, namely the massive Employees Provident Fund and bank deposits.
"Even in post-retirement, retirees need someone to manage his or her money properly, if not their money will be gone in just two or three years if it is spent freely," he said.
Next year, besides offering new products, the company planned to focus more on unitholders in managing their investments.
"We will assist them in managing their investments so that they will know the progress of their investments.
"We may give them more fund choices to help them re-balance their position at any economic situation," he added. - Bernama
Disclaimer: Reading materials in this site are obtained from its respective website and it is for information purposes only. It is not Malaysia Unit Trusts - administrator view and it is not to be used against Malaysia Unit Trusts - administrator.
Showing posts with label ING. Show all posts
Showing posts with label ING. Show all posts
Friday, December 4, 2009
Thursday, September 11, 2008
ING to make Malaysia its regional hub for Islamic funds
TheStar
KUALA LUMPUR: ING Funds Bhd aims to make Malaysia its hub for syariah-compliant products in the Asia-Pacific.
This is in line with the Malaysia International Islamic Financial Centre’s campaign to strengthen the nation’s position as an international Islamic financial centre.
Chief executive officer and director Steve Ong said the group expected to launch the next syariah-compliant fund overseas early next year once it had obtained Bank Negara approval.
“This fund will not only cater to domestic but also international investors from markets such as China, India, Japan, Hong Kong and the United Arab Emirates.
KUALA LUMPUR: ING Funds Bhd aims to make Malaysia its hub for syariah-compliant products in the Asia-Pacific.
This is in line with the Malaysia International Islamic Financial Centre’s campaign to strengthen the nation’s position as an international Islamic financial centre.
Chief executive officer and director Steve Ong said the group expected to launch the next syariah-compliant fund overseas early next year once it had obtained Bank Negara approval.
“This fund will not only cater to domestic but also international investors from markets such as China, India, Japan, Hong Kong and the United Arab Emirates.
ING Funds Bhd chief executive officer and director Steve Ong (left) and Citigroup Global Markets Ltd head of structured products sales (ASEAN) and director Lee Shu Weng (right) during the launch of the ING Annual Income Climate Structured Fund in Kuala Lumpur on Wednesday. - Starpic by Azman Ghani
“We plan to produce and manage the fund locally, and distribute and market it through our 13 offices in the Asia-Pacific,” he said after launching ING Annual Income Climate Structured Fund (Climate) yesterday.
Climate is a syariah-based close-ended fund that offers 5% annual income distribution for three years plus potential capital gain with 100% capital preservation in Australian dollar-denominated underlying assets at maturity in 39 months.
Citigroup Global Markets Ltd is the guarantor of the 5% income and the capital invested.
Ong said ING Funds had developed Climate as a “safe” solution for investors following their concern over preserving assets under the current high inflation and uncertain market conditions.
Citigroup Global Markets head of structured products sales (Asean) Lee Shu Weng said Climate aimed to capitalise on companies that focused on alternative, efficient and renewable energy, fuel and transport development and technology.
This include nuclear power, battery, solar, biofuel and hybrid vehicles.
“Climate is based on Citi Climate Change Opportunities Index that contains 10 to 30 global stocks which are selected through stringent criteria.
“These stocks are quarterly rebalanced and must be rated ‘buy’ by Citi Investment Research,” she said, adding that the bulk of the stocks were from the US and European companies.
Next year, Ong said, ING Funds would introduce three or four products but that would depend on the results of its research and the needs of investors. There are no plans for other launches this year.
Currently, the group has RM2.6bil worth of funds under its management and it is on track to achieve its target of RM3bil this year.
Climate has an approved fund size of 500 million units and the entry price is 98.52 sen per unit.
Entry fee is 1.5% of the offer price per unit and the management fee is 1% per annum. The minimum initial investment is RM5,000.
Disclaimer: Reading materials in this site are obtained from its respective website and it is for information purposes only. It is not Malaysia Unit Trusts - administrator view and it is not to be used against Malaysia Unit Trusts - administrator.
Wednesday, July 23, 2008
ING Funds’ new global emerging market fund
TheEdge
KUALA LUMPUR: ING Funds Bhd has launched its latest global fund, the ING Global Emerging Markets Debt, a fund that provides investors with a regular income stream through investments in a diversified selection of fixed income securities, money market instruments, derivatives and deposits.
In a statement yesterday, ING Funds said the fund would be mainly denominated in the local currencies of the developing countries in Latin America, Asia, Central Europe, Eastern Europe and Africa.
It said those were markets where economic reforms had been carried out and where the economic growth had exceeded that of developed countries over the past decade.
ING Global Emerging Markets Debt fund feeds into a target fund — the ING (L) Renta Fund Emerging Markets Debt Local Currency (IRFEMD) which has a total asset under management (AuM) of more than US$2 billion (RM6.5 billion) and is domiciled in Luxembourg.
IRFEMD is managed by ING Asset Management in the Netherlands which is part of ING Investment Management (ING IM) Europe. ING IM has managed emerging markets local currency since 1993.
“Emerging markets represent an important growth opportunity. Strong domestic demand, high exports to developed markets and large populations with rising wages are just some of the factors which have been creating value and delivering higher returns for investors,” said Ismitz Matthew De Alwis, head of retail distribution of ING Funds.
Disclaimer: Reading materials in this site are obtained from its respective website and it is for information purposes only. It is not Malaysia Unit Trusts - administrator view and it is not to be used against Malaysia Unit Trusts - administrator.
KUALA LUMPUR: ING Funds Bhd has launched its latest global fund, the ING Global Emerging Markets Debt, a fund that provides investors with a regular income stream through investments in a diversified selection of fixed income securities, money market instruments, derivatives and deposits.
In a statement yesterday, ING Funds said the fund would be mainly denominated in the local currencies of the developing countries in Latin America, Asia, Central Europe, Eastern Europe and Africa.
It said those were markets where economic reforms had been carried out and where the economic growth had exceeded that of developed countries over the past decade.
ING Global Emerging Markets Debt fund feeds into a target fund — the ING (L) Renta Fund Emerging Markets Debt Local Currency (IRFEMD) which has a total asset under management (AuM) of more than US$2 billion (RM6.5 billion) and is domiciled in Luxembourg.
IRFEMD is managed by ING Asset Management in the Netherlands which is part of ING Investment Management (ING IM) Europe. ING IM has managed emerging markets local currency since 1993.
“Emerging markets represent an important growth opportunity. Strong domestic demand, high exports to developed markets and large populations with rising wages are just some of the factors which have been creating value and delivering higher returns for investors,” said Ismitz Matthew De Alwis, head of retail distribution of ING Funds.
Disclaimer: Reading materials in this site are obtained from its respective website and it is for information purposes only. It is not Malaysia Unit Trusts - administrator view and it is not to be used against Malaysia Unit Trusts - administrator.
Tuesday, July 22, 2008
ING unveils fund with focus on developing countries
TheStar
KUALA LUMPUR: ING Funds Bhd has launched the ING Global Emerging Markets Debt, a global fund that provides investors with regular income stream.
The fund invests in a diversified selection of fixed-income securities, money market instruments, derivatives and deposits mainly denominated in local currencies of developing countries in Latin America, Asia, central and eastern Europe and Africa.
The fund would feed into a target fund, ING (L) Renta Fund Emerging Markets Debt Local Currency.
The target fund had total assets under management of more than US$2bil and was domiciled in Luxembourg, the company said in a statement yesterday.
“Emerging markets represent an important growth opportunity,” said retail distribution head Ismitz Mattew De Alwis.
“Strong domestic demand, high exports to developed markets and large population with rising wages are just some of the factors which have been creating value and delivering higher returns for investors.”
It would give investors the chance to diversify their portfolio with an investment class that was lowly correlated with developed markets, he added.
The fund has an approved size of 300 million units. The minimum initial investment is RM5,000. – Bernama
Disclaimer: Reading materials in this site are obtained from its respective website and it is for information purposes only. It is not Malaysia Unit Trusts - administrator view and it is not to be used against Malaysia Unit Trusts - administrator.
KUALA LUMPUR: ING Funds Bhd has launched the ING Global Emerging Markets Debt, a global fund that provides investors with regular income stream.
The fund invests in a diversified selection of fixed-income securities, money market instruments, derivatives and deposits mainly denominated in local currencies of developing countries in Latin America, Asia, central and eastern Europe and Africa.
The fund would feed into a target fund, ING (L) Renta Fund Emerging Markets Debt Local Currency.
The target fund had total assets under management of more than US$2bil and was domiciled in Luxembourg, the company said in a statement yesterday.
“Emerging markets represent an important growth opportunity,” said retail distribution head Ismitz Mattew De Alwis.
“Strong domestic demand, high exports to developed markets and large population with rising wages are just some of the factors which have been creating value and delivering higher returns for investors.”
It would give investors the chance to diversify their portfolio with an investment class that was lowly correlated with developed markets, he added.
The fund has an approved size of 300 million units. The minimum initial investment is RM5,000. – Bernama
Disclaimer: Reading materials in this site are obtained from its respective website and it is for information purposes only. It is not Malaysia Unit Trusts - administrator view and it is not to be used against Malaysia Unit Trusts - administrator.
Wednesday, May 28, 2008
ING Funds sees RM50m sales from partnership
TheStar
KUALA LUMPUR: ING Funds Bhd is confident its tie-up with Perpetual Trustees Bhd to offer trust services will add RM50mil to its assets under management within the next six months.
Currently, the firm's assets under management stand at RM2.5bil.
Chief executive officer Steve Ong said the setting up of investment trusts with Perpetual Trustees provided investors with a one-stop wealth management solution for asset accumulation, protection and distribution.
“Having your money managed independently through a trust structure provides peace of mind to investors who can designate specific investment trusts to meet their personal and family financial obligations,” he said.
Ong said this at an agreement signing yesterday between ING Funds and Perpetual Trustees to formalise their alliance in offering ING Funds Investment Trusts.
He added that the launch of the service was “timely”, given that investors had become more sophisticated and “demanding”.
Perpetual Trustees general manager Sheela Vasuthevan said under the new offering, an investor could choose to create an educational investment trust plan, an inheritance retirement investment trust plan or a lifestyle investment trust plan.
“By doing so, the investor specifically invests for a particular purpose and the investment is protected and governed by a trust deed. This trust will then be administered by the trustee,” she said.
Perpetual Trustees is an associate company of ING Management Holdings Sdn Bhd, the holding company of ING Insurance Bhd and ING Funds.
Sheela said the tie-up was the first for Perpetual Trustees. “We will consider future tie-ups with other fund management firms, depending on the demand and response for this product,” she said.
ING Funds Investment Trusts is open to new and existing ING Funds investors, Ong said.
At least two new products were in the pipeline, he said, adding: “Capital-protected products are in demand now.”
Meanwhile, Ong said there were still investment opportunities in the current market.
“You are not buying the whole market. High-dividend stocks, especially those which have been sold down, remain attractive,” he added.
Disclaimer: Reading materials in this site are obtained from its respective website and it is for information purposes only. It is not Malaysia Unit Trusts - administrator view and it is not to be used against Malaysia Unit Trusts - administrator.
KUALA LUMPUR: ING Funds Bhd is confident its tie-up with Perpetual Trustees Bhd to offer trust services will add RM50mil to its assets under management within the next six months.
Currently, the firm's assets under management stand at RM2.5bil.
Chief executive officer Steve Ong said the setting up of investment trusts with Perpetual Trustees provided investors with a one-stop wealth management solution for asset accumulation, protection and distribution.
“Having your money managed independently through a trust structure provides peace of mind to investors who can designate specific investment trusts to meet their personal and family financial obligations,” he said.
Ong said this at an agreement signing yesterday between ING Funds and Perpetual Trustees to formalise their alliance in offering ING Funds Investment Trusts.
He added that the launch of the service was “timely”, given that investors had become more sophisticated and “demanding”.
Perpetual Trustees general manager Sheela Vasuthevan said under the new offering, an investor could choose to create an educational investment trust plan, an inheritance retirement investment trust plan or a lifestyle investment trust plan.
“By doing so, the investor specifically invests for a particular purpose and the investment is protected and governed by a trust deed. This trust will then be administered by the trustee,” she said.
Perpetual Trustees is an associate company of ING Management Holdings Sdn Bhd, the holding company of ING Insurance Bhd and ING Funds.
Sheela said the tie-up was the first for Perpetual Trustees. “We will consider future tie-ups with other fund management firms, depending on the demand and response for this product,” she said.
ING Funds Investment Trusts is open to new and existing ING Funds investors, Ong said.
At least two new products were in the pipeline, he said, adding: “Capital-protected products are in demand now.”
Meanwhile, Ong said there were still investment opportunities in the current market.
“You are not buying the whole market. High-dividend stocks, especially those which have been sold down, remain attractive,” he added.
Disclaimer: Reading materials in this site are obtained from its respective website and it is for information purposes only. It is not Malaysia Unit Trusts - administrator view and it is not to be used against Malaysia Unit Trusts - administrator.
Wednesday, April 9, 2008
ING sees up to 10% returns from new fund
TheStar
KUALA LUMPUR: ING Funds Bhd expects its latest product, the ING Annual Alpha Access Capital Protected fund, to provide annual returns of 7% to 10%.
Chief executive officer Steve Ong said the three-year close-ended capital-protected fund would provide investors with 100% capital protection while seeking to generate high returns.
“The fund’s capital-protected value is derived from investing in ringgit-denominated financial instruments from local financial institutions that will return 100% of the invested capital to investors at the end of the three-year period,” he told reporters at the launch of the fund yesterday.
To generate potential high returns, the fund will invest up to 10% of its net asset value in the ING Outperformance Alpha Option, a three-year ringgit hedged over-the-counter call option, consisting of global emerging markets ex-Asia and the Asia emerging markets indices versus the US S&P 500 index.
“The two global emerging markets’ basket of indices offers investors diversification as they are not correlated with one another. The composition of global emerging markets ex-Asia includes Russian Depository Index, Central and European Europe Index, iShares MSCI Brazil Index Fund and iShares MSCI Mexico Index Fund.
“The Asia emerging markets consist of Hang Seng China Enterprises Index, Kospi 200 Index, MSCI Taiwan Index and ASX 200 Index,” Ong said.
The interesting feature of the fund was its strategy, which aimed to provide investors with an annual payout regardless of bull or bear market conditions with the potential out performance of the two global emerging markets’ basket of indices versus the US S&P 500, he said.
Based on historical data, these markets have been registering higher returns than the US S&P 500.
According to ING Bank Singapore director for exotic equity derivatives trading Camiel Houwen, the US recession was likely to last up to 18 months, affecting the country’s growth, while the China economy was well geared to weather a global slowdown as it had demonstrated a lower degree of sensitivity to a downshift in the US demand.
The fund has an approved fund size of 500 million units with a minimum initial investment amount of RM5,000.
ING Funds targets to increase the size of its funds under management to RM3bil from about RM2bil as at end-2007 with the launch of three more products this year.
Disclaimer: Reading materials in this site are obtained from its respective website and it is for information purposes only. It is not Malaysia Unit Trusts - administrator view and it is not to be used against Malaysia Unit Trusts - administrator.
KUALA LUMPUR: ING Funds Bhd expects its latest product, the ING Annual Alpha Access Capital Protected fund, to provide annual returns of 7% to 10%.
Chief executive officer Steve Ong said the three-year close-ended capital-protected fund would provide investors with 100% capital protection while seeking to generate high returns.
“The fund’s capital-protected value is derived from investing in ringgit-denominated financial instruments from local financial institutions that will return 100% of the invested capital to investors at the end of the three-year period,” he told reporters at the launch of the fund yesterday.
To generate potential high returns, the fund will invest up to 10% of its net asset value in the ING Outperformance Alpha Option, a three-year ringgit hedged over-the-counter call option, consisting of global emerging markets ex-Asia and the Asia emerging markets indices versus the US S&P 500 index.
“The two global emerging markets’ basket of indices offers investors diversification as they are not correlated with one another. The composition of global emerging markets ex-Asia includes Russian Depository Index, Central and European Europe Index, iShares MSCI Brazil Index Fund and iShares MSCI Mexico Index Fund.
“The Asia emerging markets consist of Hang Seng China Enterprises Index, Kospi 200 Index, MSCI Taiwan Index and ASX 200 Index,” Ong said.
The interesting feature of the fund was its strategy, which aimed to provide investors with an annual payout regardless of bull or bear market conditions with the potential out performance of the two global emerging markets’ basket of indices versus the US S&P 500, he said.
Based on historical data, these markets have been registering higher returns than the US S&P 500.
According to ING Bank Singapore director for exotic equity derivatives trading Camiel Houwen, the US recession was likely to last up to 18 months, affecting the country’s growth, while the China economy was well geared to weather a global slowdown as it had demonstrated a lower degree of sensitivity to a downshift in the US demand.
The fund has an approved fund size of 500 million units with a minimum initial investment amount of RM5,000.
ING Funds targets to increase the size of its funds under management to RM3bil from about RM2bil as at end-2007 with the launch of three more products this year.
Disclaimer: Reading materials in this site are obtained from its respective website and it is for information purposes only. It is not Malaysia Unit Trusts - administrator view and it is not to be used against Malaysia Unit Trusts - administrator.
Thursday, January 24, 2008
Public Bank, ING launch PB-ING Baraka Commodities Plan
TheEdge
KUALA LUMPUR: Public Bank Bhd and ING Insurance Bhd have unveiled the PB-ING Baraka Commodities Plan in a move to diversify investment opportunities, and signifying the start to their 10-year strategic regional alliance forged recently.
In a joint statement on Jan 21, the two companies said the inaugural product jointly developed by them was a powerful capital guaranteed investment-linked plan that aimed to provide maximum capital growth and potential high performance bonus within three years.
The plan is invested in the Top 30 high-performing global stocks in basic materials and oil and gas sectors selected from the Dow Jones Islamic Markets World Index Universe. Public Bank and ING said these stocks were actively managed and re-balanced each quarter to maximise performance potential.
PB-ING Baraka Commodities Plan is a single premium plan with a minimum premium amount of RM30,000. Entry age is from 30 days to 65 years of age. The plan is open for subscription for an eight-week period starting from Jan 18, 2008, till March 18, 2008.
In the fourth quarter of 2007, Public Bank and ING sealed a 10-year strategic regional alliance to tap long term regional opportunities by jointly developing the bancassurance business, Takaful business and various other services such as wealth management, joint promotional activities and co-branded credit card services.
Public Bank managing director Datuk Seri Tay Ah Lek said the ever-increasing demand for basic materials, especially from fast developing nations in Asia, the Middle East and Eastern Europe, was expected to sustain high commodity prices in the foreseeable future.
“Coupled with the strong support for oil and gas prices, the PB-ING Baraka Commodities Plan is indeed an attractive investment option for all types of investors,” he added. It will allocate 95% of the premium paid as Invested Capital, apart from offering life insurance protection against death and total permanent disability.
The plan will be sold exclusively by Public Bank and underwritten by ING. The investments will be managed by the investment arm of ING Group, ING Investment Management (IIM) through its local affiliate, ING Funds Bhd (IFB), which had over RM2 billion assets under management as at end November 2007.
Dr Nirmala Menon, president and chief executive officer of ING Insurance Bhd, said: “The PB-ING Baraka Commodities Plan provides us with a great start to our strategic alliance. This plan allows us to tap into market segments that we have not captured while enabling Public Bank to widen its offerings for its customers.”
“Together with Public Bank, ING is already lining up many more products that are specially developed for the bank’s wide and varied clientele. We hope to be able to leverage on Public Bank’s multiple marketing channels to expand our bancassurance offerings further,” she said.
Disclaimer: Reading materials in this site are obtained from its respective website and it is for information purposes only. It is not Malaysia Unit Trusts - administrator view and it is not to be used against Malaysia Unit Trusts - administrator.
KUALA LUMPUR: Public Bank Bhd and ING Insurance Bhd have unveiled the PB-ING Baraka Commodities Plan in a move to diversify investment opportunities, and signifying the start to their 10-year strategic regional alliance forged recently.
In a joint statement on Jan 21, the two companies said the inaugural product jointly developed by them was a powerful capital guaranteed investment-linked plan that aimed to provide maximum capital growth and potential high performance bonus within three years.
The plan is invested in the Top 30 high-performing global stocks in basic materials and oil and gas sectors selected from the Dow Jones Islamic Markets World Index Universe. Public Bank and ING said these stocks were actively managed and re-balanced each quarter to maximise performance potential.
PB-ING Baraka Commodities Plan is a single premium plan with a minimum premium amount of RM30,000. Entry age is from 30 days to 65 years of age. The plan is open for subscription for an eight-week period starting from Jan 18, 2008, till March 18, 2008.
In the fourth quarter of 2007, Public Bank and ING sealed a 10-year strategic regional alliance to tap long term regional opportunities by jointly developing the bancassurance business, Takaful business and various other services such as wealth management, joint promotional activities and co-branded credit card services.
Public Bank managing director Datuk Seri Tay Ah Lek said the ever-increasing demand for basic materials, especially from fast developing nations in Asia, the Middle East and Eastern Europe, was expected to sustain high commodity prices in the foreseeable future.
“Coupled with the strong support for oil and gas prices, the PB-ING Baraka Commodities Plan is indeed an attractive investment option for all types of investors,” he added. It will allocate 95% of the premium paid as Invested Capital, apart from offering life insurance protection against death and total permanent disability.
The plan will be sold exclusively by Public Bank and underwritten by ING. The investments will be managed by the investment arm of ING Group, ING Investment Management (IIM) through its local affiliate, ING Funds Bhd (IFB), which had over RM2 billion assets under management as at end November 2007.
Dr Nirmala Menon, president and chief executive officer of ING Insurance Bhd, said: “The PB-ING Baraka Commodities Plan provides us with a great start to our strategic alliance. This plan allows us to tap into market segments that we have not captured while enabling Public Bank to widen its offerings for its customers.”
“Together with Public Bank, ING is already lining up many more products that are specially developed for the bank’s wide and varied clientele. We hope to be able to leverage on Public Bank’s multiple marketing channels to expand our bancassurance offerings further,” she said.
Disclaimer: Reading materials in this site are obtained from its respective website and it is for information purposes only. It is not Malaysia Unit Trusts - administrator view and it is not to be used against Malaysia Unit Trusts - administrator.
Tuesday, January 22, 2008
ING declares 0.5 sen income distribution
BusinessTimes
ING Funds Bhd has declared a 0.5 sen income distribution for its ING Global Real Estate fund for the quarter ended December 31 2007. The distribution represents a distribution yield of one per cent based on the par value of 50 sen. The fund has distributed a total of 3.5 sen since its launch in July 2006, which is equivalent to a seven per cent yield. ING Global Real Estate unitholders as at January 21 2008 will be entitled to the distribution.
Disclaimer: Reading materials in this site are obtained from its respective website and it is for information purposes only. It is not Malaysia Unit Trusts - administrator view and it is not to be used against Malaysia Unit Trusts - administrator.
ING Funds Bhd has declared a 0.5 sen income distribution for its ING Global Real Estate fund for the quarter ended December 31 2007. The distribution represents a distribution yield of one per cent based on the par value of 50 sen. The fund has distributed a total of 3.5 sen since its launch in July 2006, which is equivalent to a seven per cent yield. ING Global Real Estate unitholders as at January 21 2008 will be entitled to the distribution.
Disclaimer: Reading materials in this site are obtained from its respective website and it is for information purposes only. It is not Malaysia Unit Trusts - administrator view and it is not to be used against Malaysia Unit Trusts - administrator.
Wednesday, January 16, 2008
ING China Fund to generate 26% annual earnings growth
TheEdge
KUALA LUMPUR: ING Investment Management Asia Pacific (Hong Kong) Ltd expects its ING China Access Fund to generate 26% in annual earnings growth over the next three years.
Its senior investment manager Michael Chiu said the 26% growth was sustainable going forward due to China’s real and nominal gross domestic product (GDP) growth of 9% and 14% respectively.
“Earnings growth is a key driver for the rise in share price in the long term and we expect double-digit growth in the share price,” he said after the launch of the new fund.
The new fund has an approved fund size of 600 million units and was offered for sale until Jan 31, with a 50 sen per unit entry price and a minimum initial investment of RM5,000.
ING China Access would invest a minimum of 95% in the fund which offers investors access to premier Chinese companies not listed on China’s A-share market, as well as good quality China initial public offerings (IPOs) listed on international markets.
ING Investment Management Asia Pacific (Hong Kong) is the investment manager for the ING China Access Fund.
Chiu said strong earnings and economic growth as well as the listing of more world-class Chinese companies on Shanghai’s A-share market helped lower the overall valuation, although the market’s 2008 price earnings (PE) ratio of 31.2 times might be excessive.
He said the current high valuation for China’s A-share market was due to demand and supply factors, high savings rate and the lack of alternative investment vehicles.
Chiu said domestic sectors like consumption, real estate and infrastructure would benefit from the appreciation in the renminbi, which ING believed would continue over the next five to 10 years.
“We believe these (sectors) will be the major investment theme in 2008, and the property and infrastructure sectors are going to prosper as well,” he said.
ING Funds Bhd chief executive officer Steve Ong said the fund offered reasonably safe access to the Chinese market because ING Hong Kong would pick companies trading at a discount or with reasonable price valuations.
Disclaimer: Reading materials in this site are obtained from its respective website and it is for information purposes only. It is not Malaysia Unit Trusts - administrator view and it is not to be used against Malaysia Unit Trusts - administrator.
KUALA LUMPUR: ING Investment Management Asia Pacific (Hong Kong) Ltd expects its ING China Access Fund to generate 26% in annual earnings growth over the next three years.
Its senior investment manager Michael Chiu said the 26% growth was sustainable going forward due to China’s real and nominal gross domestic product (GDP) growth of 9% and 14% respectively.
“Earnings growth is a key driver for the rise in share price in the long term and we expect double-digit growth in the share price,” he said after the launch of the new fund.
The new fund has an approved fund size of 600 million units and was offered for sale until Jan 31, with a 50 sen per unit entry price and a minimum initial investment of RM5,000.
ING China Access would invest a minimum of 95% in the fund which offers investors access to premier Chinese companies not listed on China’s A-share market, as well as good quality China initial public offerings (IPOs) listed on international markets.
ING Investment Management Asia Pacific (Hong Kong) is the investment manager for the ING China Access Fund.
Chiu said strong earnings and economic growth as well as the listing of more world-class Chinese companies on Shanghai’s A-share market helped lower the overall valuation, although the market’s 2008 price earnings (PE) ratio of 31.2 times might be excessive.
He said the current high valuation for China’s A-share market was due to demand and supply factors, high savings rate and the lack of alternative investment vehicles.
Chiu said domestic sectors like consumption, real estate and infrastructure would benefit from the appreciation in the renminbi, which ING believed would continue over the next five to 10 years.
“We believe these (sectors) will be the major investment theme in 2008, and the property and infrastructure sectors are going to prosper as well,” he said.
ING Funds Bhd chief executive officer Steve Ong said the fund offered reasonably safe access to the Chinese market because ING Hong Kong would pick companies trading at a discount or with reasonable price valuations.
Disclaimer: Reading materials in this site are obtained from its respective website and it is for information purposes only. It is not Malaysia Unit Trusts - administrator view and it is not to be used against Malaysia Unit Trusts - administrator.
Wednesday, November 14, 2007
ING Funds seeks to raise Baraka capital protected fund size
TheEdge
KUALA LUMPUR: ING Funds Bhd has submitted its application to the Securities Commission (SC) to increase the fund size of the ING Baraka Commodities Capital Protected Fund, its syariah-compliant capital protected fund launched on Oct 2, from 200 million units to 300 millions units or RM300 million.
Its chief executive officer Steve Ong said the fund was well received as investors were drawn to its 100% capital protection feature and expected high capital growth from investments in the Societe Generale Asset Management (SGAM) Alternative Investments (AI) Baraka Commodity Index, comprising the top 30 global equities in the basic materials and oil and gas (O&G) sectors.
“We encourage investors to consider the ING Baraka Commodities Capital Protected Fund as it offers local investors a good alternative investment to the current low interest offered by banks’ fixed deposits,” he said.
He said companies that are linked to the basic materials and O&G sectors will potentially benefit from the upward trend in the commodity market as commodity prices will continue to increase, spurred by scarceness of resources and increasing demand.
The fund has an entry price of 98.52 sen per unit with a capital protected value of RM1 per unit. Its entry fee and annual management fee is 1.5% and 1% of net asset value (NAV) per unit respectively, with the minimum initial investment amount at RM5,000.
The offer period for this fund would end on Nov 15.
ING Funds said investors could purchase units of ING Baraka Commodities Capital Protected from its advisers or authorised distributors nationwide.
Disclaimer: Reading materials in this site are obtained from its respective website and it is for information purposes only. It is not Malaysia Unit Trusts - administrator view and it is not to be used against Malaysia Unit Trusts - administrator.
KUALA LUMPUR: ING Funds Bhd has submitted its application to the Securities Commission (SC) to increase the fund size of the ING Baraka Commodities Capital Protected Fund, its syariah-compliant capital protected fund launched on Oct 2, from 200 million units to 300 millions units or RM300 million.
Its chief executive officer Steve Ong said the fund was well received as investors were drawn to its 100% capital protection feature and expected high capital growth from investments in the Societe Generale Asset Management (SGAM) Alternative Investments (AI) Baraka Commodity Index, comprising the top 30 global equities in the basic materials and oil and gas (O&G) sectors.
“We encourage investors to consider the ING Baraka Commodities Capital Protected Fund as it offers local investors a good alternative investment to the current low interest offered by banks’ fixed deposits,” he said.
He said companies that are linked to the basic materials and O&G sectors will potentially benefit from the upward trend in the commodity market as commodity prices will continue to increase, spurred by scarceness of resources and increasing demand.
The fund has an entry price of 98.52 sen per unit with a capital protected value of RM1 per unit. Its entry fee and annual management fee is 1.5% and 1% of net asset value (NAV) per unit respectively, with the minimum initial investment amount at RM5,000.
The offer period for this fund would end on Nov 15.
ING Funds said investors could purchase units of ING Baraka Commodities Capital Protected from its advisers or authorised distributors nationwide.
Disclaimer: Reading materials in this site are obtained from its respective website and it is for information purposes only. It is not Malaysia Unit Trusts - administrator view and it is not to be used against Malaysia Unit Trusts - administrator.
Wednesday, October 3, 2007
ING mulls making Malaysia centre for Islamic funds
BusinessTimes
ING Funds Bhd is gearing itself to play a leading role in developing and marketing Islamic funds for the group in the Asia-Pacific.
Chief executive officer Steven Ong said ING Investment Management (IIM), an investment manager with US$535 billion (RM1.8 trillion) assets under management, is considering investing more resources to make Malaysia its centre for the issuing of global syariah-compliant funds.
Once the plan is in place, ING Malaysia will launch syariah-compliant funds, not only locally but also market them throughout the region, Ong said.
"For syariah-compliant funds, we want to position ourselves as the development hub for ING Asia Pacific," Ong told reporters after launching the company's latest fund, ING Baraka Commodities Capital Protected in Kuala Lumpur yesterday.
IIM has 13 locations with another due to start operations in Dubai.
"Malaysia is in very good position to support the rest of the ING's affiliate offices in the region. We are in the planning stage and looking at it seriously. The regional office has to approve the setting up. Obviously, we have to bring in more fund managers," he said.
"We can expect to start next year in the first quarter," Ong added.
ING Funds was launched in 2004, and has achieved this year's target of RM2 billion assets under management as at end of last month.
The fund manager is planning to offer at least one or two more Syariah-compliant funds next year.
Meanwhile, its latest fund offers exposure to two main board commodity sectors within the Dow Jones Islamic Market World Index (DJIMWI), namely basic materials (ranging from metals, chemicals to forestry) and oil and gas (reliable energy source).
The fund was designed to provide investors capital protection on their initial investment and potential aggressive capital growth through an actively managed commodity index.
The index, known as SGAM (Societe Generale Asset Management) Al Baraka Commodity Index, consists of top 30 global equities in the basic materials and oil and gas sectors selected from the DJIMWI.
The fund has an approved fund size of 200 million units and will be on offer for 45 days from October 2 to November 15 2007, with a minimum initial investment of RM5,000.
Disclaimer: Reading materials in this site are obtained from its respective website and it is for information purposes only. It is not Malaysia Unit Trusts - administrator view and it is not to be used against Malaysia Unit Trusts - administrator.
ING Funds Bhd is gearing itself to play a leading role in developing and marketing Islamic funds for the group in the Asia-Pacific.
Chief executive officer Steven Ong said ING Investment Management (IIM), an investment manager with US$535 billion (RM1.8 trillion) assets under management, is considering investing more resources to make Malaysia its centre for the issuing of global syariah-compliant funds.
Once the plan is in place, ING Malaysia will launch syariah-compliant funds, not only locally but also market them throughout the region, Ong said.
"For syariah-compliant funds, we want to position ourselves as the development hub for ING Asia Pacific," Ong told reporters after launching the company's latest fund, ING Baraka Commodities Capital Protected in Kuala Lumpur yesterday.
IIM has 13 locations with another due to start operations in Dubai.
"Malaysia is in very good position to support the rest of the ING's affiliate offices in the region. We are in the planning stage and looking at it seriously. The regional office has to approve the setting up. Obviously, we have to bring in more fund managers," he said.
"We can expect to start next year in the first quarter," Ong added.
ING Funds was launched in 2004, and has achieved this year's target of RM2 billion assets under management as at end of last month.
The fund manager is planning to offer at least one or two more Syariah-compliant funds next year.
Meanwhile, its latest fund offers exposure to two main board commodity sectors within the Dow Jones Islamic Market World Index (DJIMWI), namely basic materials (ranging from metals, chemicals to forestry) and oil and gas (reliable energy source).
The fund was designed to provide investors capital protection on their initial investment and potential aggressive capital growth through an actively managed commodity index.
The index, known as SGAM (Societe Generale Asset Management) Al Baraka Commodity Index, consists of top 30 global equities in the basic materials and oil and gas sectors selected from the DJIMWI.
The fund has an approved fund size of 200 million units and will be on offer for 45 days from October 2 to November 15 2007, with a minimum initial investment of RM5,000.
Disclaimer: Reading materials in this site are obtained from its respective website and it is for information purposes only. It is not Malaysia Unit Trusts - administrator view and it is not to be used against Malaysia Unit Trusts - administrator.
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