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ING Investment Management’s ING IM Emerging Market Debt Local Currency Bond Fund has reached USD1bn in assets under management.
With strong inflows from institutional, private bank and retail clients throughout 2012, the fund has attracted investors with its exposure to emerging economy’s macro fundamentals, such as low debt/GDP ratios and expected strong growth dynamics.
Furthermore, ING Investment Management saw additional inflows of USD2bn on the back of segregated mandates awarded by institutional investors
Launched in February 2010, the fund was bolstered by further, significant inflows from Asia and Europe over the past 12 months. ING IM says emerging market local currency bonds have historically shown an attractive return when compared with other assets classes, including equities, and these returns have been accompanied by relatively low volatility.
Rob Drijkoningen, head of global emerging markets debt at ING IM, says: “Robust balance of payments should further strengthen the currencies of emerging economies versus G4 currencies. As institutional investors are still structurally underweight in the asset class we expect support for the asset class to remain strong over the long term. We believe that emerging market’s long term significance cannot be ignored.
“The relatively low offshore involvement in the regional local bond universe is not proportional to the strengths touched upon above. Emerging local currency bond markets have grown significantly over the last 5 years, and with more governments and corporations looking to issue an increasing amount of debt in their local currencies, we reasonably expect continued growth of the asset class supported by investor demand.”
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