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
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