6th quarterly distribution for ING Global Real Estate

KUALA LUMPUR: ING Funds Bhd (ING Funds) has declared another 0.5 sen income distribution for its ING Global Real Estate fund for the quarter ended December, 2007, the sixth quarterly income distribution.

In a statement yesterday, ING Funds said the distribution represented a yield of 1% based on the par value of 50 sen.
The fund has given out a total of 3.5 sen since its launch in July 2006, representing a 7% yield.

ING Funds chief executive officer Steve Ong said: “Although banks and mortgage companies in the global financial sector have cut their dividends, we continue to deliver our annual target of 4-5% distribution yield for the fund.”

Registered unitholders as at Jan 21, 2008 are entitled to the distribution. Those who opted for reinvestment of distribution had their units credited into their account yesterday.

By The EDGE MALAYSIA