ING Global Real Estate Fund Increased Due to Overwhelming Response
ING Funds Berhad today announced that due to an overwhelming response to the initial ING Global Real Estate (ING RE) fund size of 300 million units had been fully subscribed since the Fund was launched on 18 July 2006. We have obtained approval from the Securities Commission to increase the ING RE fund size to 700 million units.
Steve Ong, its Chief Executive Officer stated: “The Fund has been very well received in the market because the Fund offers an attractive proposition as it aims to provide investors with high potential total returns, consisting of regular dividend income distribution and capital appreciation. Investors seeking to diversify their investment portfolios have found an attractive alternative in this latest Fund, an opportunity for investors to take advantage of property market cycles around the world.”
Ong added: “In distributing quarterly income, the fund managers have to work hard to ensure that the fund is profitably managed, since the fund can only make distributions from its realized gains and income. The ING RE is probably the only fund in the market that has a quarterly income distribution mandate, based on the targeted dividend yield of 4 - 5% per annum. The Company expects to announce its first distribution next month for the quarter ending September 2006.”
Another benefit to the unit holders is that returns of the ING RE fund is tax exempted. This is because the ING RE invests in a feeder fund known as ING Global Real Estate Securities Fund, which is domiciled in the Cayman Islands . Currently there is no corporation, income, capital gains, profits or other taxes in the Cayman Islands which would apply to the profits in respect of ING Global Real Estate Securities Fund. This benefit is passed on to the ING RE unit holders.

National Entreprenuers Convention is being held on the 7th October 2006 at the Berjaya Time Square Hotel in Kuala Lumpur. They are expecting a turn out crowd of 1,500 people. Invitation of top speakers from Pensonic Malaysia MD, Mr. Lewre of Roondy (M) S/B with other 3 speakers from Taiwan. These event is the so call main motivational talks organised by Great Vision with these experts speakers in their related field of business. The following day is a workshop on Blue Ocean Strategies by the great speaker from Taiwan.
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