ING Groep N.V.

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Publicatie datum 17 jul 2006 - 08:12

Statutaire naam ING Groep N.V.

Titel ING to buy ABN AMRO's local mutual funds business in Taiwan

Bericht ING Group today announced that it has reached an agreement with ABN AMRO Asset Management (Asia) Limited to acquire its Taiwanese domestic asset management business, ABN AMRO Asset Management (Taiwan) Ltd, a registered Securities Investment Trust Enterprise (SITE). Subject to regulatory approval, ING intends to merge ABN AMRO’s SITE with its existing domestic asset management venture, ING CHB Securities Investment and Trust Co., Ltd. ING will pay up to EUR 68 million (subject to final adjustments upon closing) for the ABN AMRO business, which is the fifth largest local mutual fund manager in Taiwan with assets under management (AUM) of EUR 2.9 billion (NTD 119 billion). The purchase will strengthen ING’s existing position as the economy’s largest overall asset manager, including local mutual fund assets and institutional mandates. The combined business will have assets under management of EUR 10.8 billion (NTD 446 billion), representing a market share of close to 17%. The transaction will have a slightly negative impact on the debt/equity ratio of ING Group of 12 basis points. The businesses provide a complementary offering in terms of products and distribution. ABN AMRO SITE’s fund portfolio primarily consists of Taiwanese dollar bond funds, a market segment in which it has built a strong reputation and a consistent performance track record. The company uses a wide range of distribution channels, including a strong direct sales team. ING CHB Securities Investment and Trust is Taiwan’s largest asset manager with total AUM of over EUR 7.9 billion (NTD 327 billion). It has a strong product portfolio of overseas investing equity funds as well as of Funds-of-Funds, and a convincing track record in the Taiwan equities segment. The company’s distribution is largely focused on banks, insurance and securities partners. The combination with ABN AMRO’s SITE will boost ING’s ranking in the local mutual funds industry, creating the industry leader in this market segme

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Datum laatste update: 21 februari 2026