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ING Investment Management US raises USD385m in IPO for the ING Emerging Markets High Dividend Equity Fund


ING Investment Management US has launched the ING Emerging Markets High Dividend Equity Fund, a newly organised, diversified, closed-end fund. The fund invests principally in a portfolio of dividend producing equity securities, primarily of issuers in emerging market countries.

ING Emerging Markets High Dividend Equity Fund raised USD385 million in an initial public offering led by Morgan Stanley, Citi, BofA Merrill Lynch, UBS Investment Bank, Wells Fargo Securities and Ameriprise Financial Services, Inc. The Fund began trading on the New York Stock Exchange today under the ticker "IHD".

"We are very excited to offer this new fund to financial advisers and their clients," says Mark Weber (pictured), Executive Vice President and Head of Investment Services.  "We believe IHD’s research-driven approach to investing in high dividend emerging market equities is a differentiated approach to investing in some of the world’s fastest growing economies. The Fund will seek to leverage ING’s high dividend investment experience and its global emerging market research expertise with analysts based in 18 emerging market countries in Asia, Latin America and Eastern Europe."

The fund is managed by ING Investments, LLC and draws upon a team of experienced investment professionals at ING Investment Management Advisors BV, the Fund’s sub-adviser. The investment management team is led by Moudy El Khodr and Manu Vandenbulck, who are responsible for the overall security selection and portfolio construction of the fund.
Under normal market conditions the portfolio managers will invest in 60 to 120 dividend producing equity securities of issuers in emerging markets. The Fund will also normally seek to secure gains and enhance the stability of returns over a market cycle by writing (selling) options on selected ETFs and/or international, regional or country indices of equity securities, and/or on equity securities. The portfolio managers will seek to construct a portfolio with a weighted average gross dividend yield that exceeds the dividend yield of the MSCI Emerging Markets Index. The MSCI Emerging Markets Index is a free float-adjusted market capitalization index that is designed to measure equity market performance of emerging markets and is composed of approximately 750 companies.

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