Assets managed by ING Investment Management, the funds arm of the Dutch financial-services group, for outside clients dropped 10% in the fourth quarter of 2008 as retail investors, alarmed at volatile markets, withdrew a net âŹ1.1bn ($1.3bn). However, this was partially offset by a net âŹ600m of new money from institutional investors.
ING Investment Management runs âŹ333bn in total, though âŹ128bn of that is money it manages on behalf of the ING group. Assets under management for external clients stood at âŹ205bn at the end of 2008, it reported today, down 10% from the end the third quarter.
