25 Mar 2009

ING offers more options for repayment from frozen funds

11:10 am on 25 March 2009

ING is offering investors more options on how they are repaid, after freezing two of its investment funds last year.

The company says investors in its diversified yield fund and regular income fund can choose to take between 25% and 75% of their money this year, and the remainder in five years.

ING says it will hold investor meetings throughout the country in May before investors vote on the proposal at meetings in June.

Under an original repayment offer, investors could choose to be repaid less money this year or more in five years' time.

A group of investment advisers labelled the plan insulting, saying it could return as little as 15 cents in the dollar.