ING IM launches China Access Fund

Hague-headquartered ING Investment Management Asia/Pacific (ING IM) launched the ING China Access Fund on Tuesday for investing only in Chinese companies listed on international exchanges.

This fund will focus on a portfolio of about 30 to 40 mainland stocks, whose share prices nearly 35 times of the earnings.

According to the statement of the company, the China Access Fund will target the leading companies, and invest in small- and mid-size companies which have strong fundamentals or develop much faster than other similar companies.

ING IM expects that China will continuously benefit from rapid and steady economic growth, developing urbanization and industrialization and rising purchasing power.

The fund will provide investors with opportunities to access unlisted Chinese companies, listed companies trading at a steep discount, well-established global companies with large revenue gains from China, and well-estimated China's IPOs on international markets.

ING expects to raise about US$250 million within six months to a year. The China Access Fund will be marketed to private banking clients. It will also be available for general retail sales in Hong Kong.