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ING takes retail fund to wholesale market
ING Australiahas today launched a wholesale version of its Tax Effective Income Trust.
ING’s head of funds management, Anna-Maria Kwan-Emery says that in the retail sector,Morningstarhas rated the Tax Effective Income Trust has produced the best returns in the multi-sector growth category on a three, five, seven and ten year basis to December 2003.
She says the trust is well-placed to continue producing solid returns for investors, particularly those looking for regular income and some high growth from their investments, such as retirees.
“Now, in a wholesale version it is even more attractive as it offers solid, consistent performance with lower management fees,” Kwan-Emery says.
She says the fund aims to provide tax effective income with consistently above-average franking levels.
ING says investors can access the wholesale fund with a minimum investment amount of only $100,000 as well as through master funds and wrap accounts.
The wholesale version has a management fee of 0.95 per cent per annum.
AUTHOR
Mike Taylor
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