EUROPE - ING Investment Management is pushing forward with the launch of its multi-manager programme in Europe, scheduled for later this year.
Angelien Kemna, the division’s European chief executive, based in The Hague, says: "We are currently developing this for the Dutch marketplace, which is a very important market for us. The programme is being tested to make sure we have it 100% operational."
She adds: "If this proves successful, it will be stage one of a roll-out elsewhere in Europe."
The multi-manager product will be targeted in the Netherlands at "our traditional medium and smaller pension fund market". The aim is to have a client-focused product, delivered in a straight and efficient manner.
"We are importing from Australia the fantastic product we have there," says Kemna. It is a well-established product in that market with a track record than can compete with the biggest providers in the world, she adds.
"This is a good fiduciary product. It will appeal to those investors who have all their assets with us, but are now looking for a wider range of managers, which is something we understand."
The new programme will be launched in November.
Currently, the product is running with ING's own pension fund in the Netherlands, which requested the opportunity to undertake this, she adds.
The group decided to bring the ING Investment Management Australian multi-manager programme to Europe, with its established raft of managers rather than develop a new one.
"With the track record and experience it has, we are well positioned. Next to our Australian experience we are also building on our extensive US manager research capabilities and we will add to the resources from a European base over time."