ING IM merges emerging markets funds
ING Investment Management Emerging Markets fund has been merged into the manager’s Emerging Markets High Dividend fund, creating a single vehicle with some €190m of assets under management by senior investment manager Manu Vandenbulck.
Vandenbulck (pictured) said: “We truly believe in the combination of a high dividend investment strategy with the fundamental benefits of emerging markets. Strong earnings growth in emerging markets combined with improving balance sheets are driving increasing and sustainable dividends. Emerging market dividend stocks are an attractive asset class for the long term investor.”
“With China recovering and with China-insensitive stocks, sectors and countries having become expensive, we see a growing chance that these important multi-year trends will reverse. In the past months we have already seen some stabilisation in the BRIC’s relative performance. And meanwhile, some of the domestic demand-growth markets seem to have peaked relative to GEMs.”
“The better earnings momentum and easy financial conditions in EM, coupled with a pick-up in global trade growth should sustain EM outperformance in the coming quarters. The Emerging Markets High Dividend fund, managed by a team experienced in dividend and value investing, aims to take advantage of these trends, while maintaining focus on the important bottom-up factors and analysis that lead to high conviction investment ideas.”