What was decided at the Extraordinary General Meeting on 1 August 2022 ?
ING Solutions Investment Management S.A. (“ISIM”), the company that manages the MSP fund, has proposed a merger of the Multi-Strategy Portfolio structure with the ING Fund structure, with the funds being managed by ING Belgium NV/SA*.
This proposal arose from the desire to consolidate the role of ING Belgium NV/SA in managing the fund and to further improve the value proposition of ING Private Banking. ISIM's proposal is also driven by the rapid changes in the market with regard to fund management and the resulting consolidation movements.
ISIM's proposal was approved by the Extraordinary General Meeting and will take effect on 1 October 2022.
This change has mainly two consequences:
- A change of name. For example, the "MSP Balanced" sub-fund of the "Multi-Strategy Portfolio" funds becomes the "ING Multi-Strategy Balanced" within the "ING Fund";
- Whereas the "Multi-Strategy Portfolio" fund was managed by NN Investment Partners, the sub-funds of the "ING Fund" are managed by ING Belgium NV/SA*.
*ING Solutions Investment Management S.A. (“ISIM”) is the management company that manages and administers the “ING Fund”. Its management is delegated to ING Belgium NV/SA.
To allow the merger described above, the sub-funds of Multi-Strategy Portfolio will no longer accept subscription, redemption or switch orders from September 22, 2022 from 3 p.m.
Subscription, redemption and switch orders will again be possible after the merger in the sub-funds of ING Fund from October 3, 2022. Orders received on October 3 before 3 p.m. will be executed at the following calculated net asset value.