Friday, December 4, 2009

ING Funds doing well, one of the 23 giving 30% returns


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

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