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.
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