NETHERLANDS – Institutional client assets under management at ING rose 27.5% to €104.9bn in 2005.

It came amid an increase in total third-party assets under management at ING Investment Management of 11.7% to €193.7bn.

“The net inflow amounted to €5.7bn, of which ING IM Europe contributed €2.8bn,” the bank said.

Total assets under management for third-party clients increased to €352.7bn in 2005, ING added.

It said the higher assets “were mainly driven by growth at ING Real Estate (+68.0%), private banking (+21.7%) and ING Investment Management (+11.7%).

The total portfolio of ING Real Estate, including the finance activities, increased 39.5% to €69.9bn, driven mainly by investment management activities.

This portfolio grew by 52% to €47.1bn, driven by the acquisitions of the Gables Residential Trust and Abbey National portfolios, “along with a strong inflow into 13 new funds that were created in 2005”.

The real estate finance portfolio increased to €20.3bn from €17.1bn a year before.

Total assets under management, which includes insurance and real estate, rose 23.5% to €547.4bn, ING said in its 2005 earnings report.