ING'S FUND ASSETS IN CHINA DEPRECIATE 56% IN Q4

AsiaInfo Services, January, 2006

AsiaInfo Services 01-25-2006 ING's Fund Assets in China Depreciate 56% in Q4 BEIJING, Jan 25, 2006 (SinoCast via COMTEX) -- Holland-headed ING, a global leading financial group, suffers loss in the mutual fund market in China, reporting a 56% depreciation of all assets its Chinese joint venture fund managed in the forth quarter of 2005. The joint venture fund management firm discloses that the value of its managed assets declined by 56% in the last three months of 2005, from CNY 25 billion (or near USD 3 billion) to CNY 11 billion (USD 1 = CNY 8.06).

In fact, the fund firm is the third largest one in the Chinese money market and mainly invests in short-term bonds. Insiders point out that the fixed-return products, which have been strongly demanded since the...

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