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ING reports growth in stable value business


ING’s US retirement services division has reported growth in its stable value business throughout 2010.

The surge has been fuelled by a sharpened focus on ING’s synthetic and separate account contracts, and by leveraging the fixed income strength of its asset management operations, ING Investment Management. 

Stable value investment options have always been popular with defined contribution plan participants. 

Throughout the first three quarters of 2010, ING posted stable value sales at USD3.6bn. This represented a three-fold increase over the same period in 2009.

While the company writes business for employers of all sizes, several key relationships in ING’s institutional plan recordkeeping market contributed significantly to these new sales. 

"We believe that stable value offers the security and conservative approach many investors are looking for to help meet their goals as they work towards a positive retirement outcome," says Rick Mason, president of corporate markets for ING US Retirement Services. "ING has been providing stable value solutions to plan sponsors and their employees for over three decades, building up leadership and expertise in this space. While many wrap providers have reduced their appetite or left the business in the past two years, we’ve strategically positioned ourselves to grow in response to market demand."

Stable value investment options, which are available exclusively to defined contribution savings plans, are designed to preserve capital and provide steady returns for participants. Their significance became evident in the wake of the 2008 economic downturn, when many equity and bond fund balances were impacted by the volatile market conditions. Stable value was one of the only asset classes to avoid losses and even deliver positive returns for participants throughout this period.

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